We shared our checklist of tips and tricks while doing crypto accounting in our blog post – Crypto bookkeeping – our unmissable 6-point checklist
We have taken this a little further and shared a video that explains what we mean by our unmissable checklist. These processes have been iterated by Evalua8 over a period of three years. Hopefully this video can drive the methodology home better.
In summary our checklist says,
Point 1 – Don’t overhaul your legacy software like Xero and Quickbooks straight away
Point 2 – Supporting documents and audit trail are important and needs care
Point 3 – Transactions should be set to deduct the correct VAT % at source for UK companies
Point 4 – Have an understanding of crypto specific events such as forks and airdrops
Point 5 – Keep track of blockchain and transaction charges
Point 6 – Conduct periodic internal reviews
Happy listening!
