I evaluated cryptocurrency accounting software based on how effectively each platform tracks crypto transactions, converts crypto to fiat, supports multiple assets, and generates accurate tax reports. I also considered whether the system includes a general ledger to manage both crypto and fiat activity in one place.
Here are my top recommendations for the best cryptocurrency bookkeeping software:
| Provider | Best for | Starting monthly price |
|---|---|---|
| SoftLedger | Scalable, multi-entity crypto accounting | Quote-based |
| QuickBooks Online | Crypto accounting with Gilded integration | $38 |
| Cryptio | Users needing automated crypto workflows | Quote-based |
| Cryptoworth | Detailed crypto portfolio tracking without full accounting | $300 |
I evaluated cryptocurrency bookkeeping software based on how well each platform supports businesses handling digital assets. I focused on these key areas:
- Cryptocurrency management features: I looked at whether the system supports multiple cryptocurrencies, tracks portfolios in real time, and converts crypto to fiat accurately.
- Core accounting functionality: I checked for general ledger capabilities to manage both crypto and fiat transactions in one system.
- Integration and ecosystem fit: I reviewed integrations with platforms like QuickBooks and Xero, along with compatibility with exchanges and wallet tracking tools.
- Pricing and plan value: I compared pricing tiers to see how features align with cost at different business stages.
- Scalability and compliance: I examined how well each solution adapts to growth and whether it aligns with standards like GAAP and IFRS.
- Quick comparison of the best cryptocurrency bookkeeping software
- SoftLedger: Overall best cryptocurrency accounting software
- QuickBooks Online: Best cryptocurrency accounting software when integrated with Gilded
- Cryptio: Best cryptocurrency integration for Xero users
- Cryptoworth: Best for detailed portfolio tracking without the need for extensive general accounting
- Frequently asked questions (FAQs)
Quick comparison of the best cryptocurrency bookkeeping software
| Monthly pricing | General ledger | Supports multiple cryptocurrencies | Tracks portfolio in real-time | Auto-converts between crypto and fiat | |
|---|---|---|---|---|---|
| SoftLedger | Custom quote | ✓ | ✓ | ✓ | ✓ |
| QuickBooks Online | $38 to $275 (plus fee for Gilded integration) | ✓ | Via Gilded integration | Via Gilded integration | ✕ |
| Cryptio | Custom quote | ✕ | ✓ | ✓ | ✕ |
| Cryptoworth | $300 to $1,000 or custom quote | ✕ | ✓ | ✓ | ✕ |
SoftLedger: Overall best cryptocurrency accounting software
QuickBooks Online: Best cryptocurrency accounting software when integrated with Gilded
Cryptio: Best cryptocurrency integration for Xero users
Cryptoworth: Best for detailed portfolio tracking without the need for extensive general accounting
Frequently asked questions (FAQs)
Cryptocurrency accounting software is a specialized financial tool that is designed to help you manage and track cryptocurrency transactions, calculate capital gains or losses, and generate accurate tax reports.
The IRS considers cryptocurrency to be property. Capital gains and losses must be calculated by subtracting the cost of the crypto when purchased or earned from the value of the crypto when spent or sold. The capital gains and losses are then reported on Schedule D and Form 8949, if necessary.
QuickBooks Online itself has no tools for managing cryptocurrency, but it integrates with specialized software like Gilded to enable cryptocurrency features, like real-time portfolio tracking.
Cryptocurrency accounting software uses the transaction data imported from exchanges and wallets to calculate capital gains or losses. It considers factors such as the purchase price, sales price, holding period, and any applicable tax regulations to determine the tax obligations for each transaction.
Solutions like Cryptio and SoftLedger offer onboarding, certification courses, or in-app help to help accounting teams familiarize themselves with the software.
Public blockchains make all transactions transparent, but SoftLedger offers internal controls and permission settings that help protect confidential business or client information.
