3 Best Crypto Accounting Software

Founded in Chicago and recognized as one of the leading providers for blockchain and fintech startups, the firm combines CPA-level rigor with startup-savvy advisory to help companies scale responsibly. Their industry focus spans Web3, SaaS, fintech, and venture-funded software firms . Another challenge is how to determine the fair market value of your crypto assets at the time of the transaction. This can be tricky, especially when there are multiple exchanges or platforms that offer different prices for the same crypto asset, or when there is no established market for a particular crypto asset. You should consult with your accountant or auditor to determine the most suitable method for your crypto startup. One way to manage this complexity is by adopting appropriate accounting policies and procedures.

Web3 CFO & Cryptocurrency CPA Services Built for Startups, Digital Founders & Investors

Zeni Inc is not licensed, nor exempt to provide any payment services in the US. See why Forbes named Camuso CPA the only crypto‑native firm on this yearʼs Best‑in‑State Top CPA list. We commonly work with Cryptoworth, Bitwave, Cryptio, along with many other sub-ledgers and custom CSV parsers.

Track Every Transaction with Clear Audit Trails

With accrual accounting, you would recognize $10,000 of that revenue each month. The remainder would stay on https://ecommercefastlane.com/accounting-services-for-startups/ your balance sheet as deferred revenue. That makes your income more accurate and predictable, and investors prefer to see that regular revenue. Our CPAs are experts in startup accounting, and are experienced in leveraging AI accounting tools and automation.

$1M+ in potential tax exposure prevented

• Recognize revenue and expenses in line with real obligations rather than spreadsheet timing.
• As trusted crypto tax experts and Web3 CFOs, we help investors, founders, and digital asset companies minimize liabilities, stay audit-ready, and maintain clean, reliable books that support strategic decision-making.
• You may also need to keep receipts, invoices, contracts, or other documents that support your transactions.
• Public companies began investing in BTC, with some even investing their excess cash solely in BTC.
• For example, in October 2020, the FASB voted unanimously against adding a project to its technical agenda to address the accounting for digital asset holdings.
• It’s about more than just numbers; it’s about reclaiming your team’s valuable time and energy.

By 2018, cryptocurrency accounting services for startups was still on the rise, leading to a push for businesses big and small to accept cryptocurrency. We were the first CPA firms in the country to accept crypto payments. We continue to support founders with on-chain payment workflows and crypto-native invoicing options.

Reconciling your bank and exchange statements is an essential part of managing your accounting and bookkeeping for your crypto startup. By following these steps, you can balance your accounts and track your finances effectively and efficiently. You can also prevent or detect any errors or fraud that could affect your business performance and reputation. Under generally accepted accounting principles (GAAP), crypto assets are currently considered an intangible asset on balance sheets.

Overlooking DeFi and staking transactions

• There are other CRMs that are perfectly fine and good but if you’re going to be doing this you want to use the best in class.
• Founder’s CPA is a modern U.S.-based accounting firm specializing in early-stage and venture-backed startups.
• It helps you track, manage, and report all your company’s financial transactions, giving you a clear picture of your business’s financial health.
• For assets that lack clear market data, the onus is on the company to rigorously document its valuation methods.
• We’ll gather your data from all wallets, exchanges, and protocols first.
• The final step is to report and file your crypto taxes according to the rules and deadlines of your jurisdiction.

This includes developing financial models, creating budgets, and conducting regular variance analysis. By having a clear understanding of their financial position, crypto startups can adapt their strategies, allocate resources effectively, and optimize their operations. One of the main challenges for crypto startups is the volatility of the cryptocurrency market. The value of cryptocurrencies can fluctuate significantly within a short period, which can impact the financial position of a startup. Pre-accounting helps crypto startups monitor and analyze these fluctuations, allowing them to make informed decisions regarding their investments and financial strategies. Moreover, pre-accounting plays a crucial role in meeting regulatory requirements.

Web3 Sales Tax Compliance for NFT Platforms & Tokenized Marketplaces

Using automated accounting tools can sometimes be free of charge. Koinly is an automated crypto tax reporting and portfolio tracking software. Koinly lets you integrate cryptocurrencies like Bitcoin and Ethereum from blockchain into their software. In this guide, we’ll break down what crypto accounting really is, the hurdles you’ll face, how it impacts your business operations, and the solutions that simplify it. We’ll also show how Slash helps unify your financial stack, giving you financial visibility and accounting ease across both cash and crypto.

So, What Exactly Is a General Ledger Platform for Web3 Firms?

• We organize and reconcile your crypto transactions and wallet balances in alignment with top industry standards.
• Our team understands the nuances of DeFi protocols and NFT marketplaces.
• You juggle many hats and managing the books shouldn’t be one of them!
• It can get complicated quickly if you don’t know what you’re doing.
• You can also prevent or detect any errors or fraud that could affect your business performance and reputation.
• That makes your income more accurate and predictable, and investors prefer to see that regular revenue.

We’ve put together the ultimate finance and HR due diligence checklist for startups. Of course, having the right systems set up can dramatically lower the amount of effort required; we’ll get to those systems in a moment. As part of that commitment we offer a seamless option to pay us in a variety of cryptocurrencies. It’s a conservative approach, and yes, it means your books might look worse than reality if your assets appreciate. How you account for them depends on what they are and how your business uses them.