Best Cryptocurrency Accounting Software 2023

If your SMB conducts business using cryptocurrency, then you need a fully customizable accounting solution that can handle cryptocurrency transactions. SoftLedger’s cryptocurrency accounting feature enables you to track and manage crypto-related transactions, and you can connect your crypto wallet directly to the software like a bank feed.

We selected SoftLedger as the best for consolidating entities with cryptocurrency transactions in our evaluation of the best multicompany accounting software:

• Crypto asset management: SoftLedger’s multiple dimensions and custom crypto asset management enables you to incorporate crypto transactions easily into your financials―in any jurisdiction. You can import crypto data from any source, manage multiple wallets and entities, and access consolidated reporting in fiat or crypto.
• Reporting: Detailed transactional accounting and reporting are available, which allows you to track your crypto transactions at scale automatically. When you transfer between multiple wallets and exchanges, cost basis will be tracked automatically. You can drill into reports quickly to view transactions in real time.
• Consolidated accounting: If you’re operating through a group of parent and subsidiary corporations, SoftLedger will allow you to merge all of your transactions and generate a single set of consolidated reports across subsidiaries and segments.
• General ledger (GL): All transactions are posted to the GL, which allows for streamlined financial reporting and management. The general provides insight into real-time financials, which allows you to make crucial business decisions. You can view it in either Summary or Detail modes.
• Inventory management: SoftLedger’s inventory management feature allows you to set up and track sales orders and inventory costs. You can track your stock in real-time, adjust quantities and costs as needed, and send purchase orders (POs) to vendors.

• Businesses with multiple entities and locations: SoftLedger lets you run separate or combined reports for multiple companies, offices, properties, or locations within a single platform.
• Manufacturing and other inventory-intensive businesses: SoftLedger allows you to track your inventory in real-time, increase or decrease the quantity on hand, and transfer stock between locations. You can track inventory by warehouses so that you’ll know where your stocks are located easily. Light manufacturing companies can also use SoftLedger to track the inventory of goods in multiple stages of production.
• Businesses with an in-house development team: The platform has a fully integrated application programming interface (API) that can be customized based on the exact needs of your business. This is particularly ideal for businesses working with in-house developers.

Bitcoin Sync by Blockpath is an integration that allows you to connect your QuickBooks Online account and sync your bitcoin transactions and capital gains reports into QuickBooks automatically. You can assign each of your bitcoin addresses to a QuickBooks account to organize transactions and view the cumulative balance and value in your home currency with current exchange rates synced with QuickBooks each day. A reconciliation tool that compares QuickBooks data against actual blockchain data will ensure that your accounts are accurate:

• Tax Prep tool: Bitcoin Sync’s Tax Prep tool provides year-end reporting with support for exchange trades and PDF/XLSX reporting. Your first-in, first-out (FIFO) capital gains will be calculated from incoming and outgoing transactions and imported into QuickBooks automatically, giving you a live view of your tax obligations.
• Customization of crypto transactions: You can set the QuickBooks customer, tax code, memo, and transaction type manually, or you can create a rule to set them automatically. You can also view bitcoin transactions as an invoice-style document and attach notes and customers to your payments.
• Automation: Bitcoin Sync creates accounts in your chart of accounts for each bitcoin address. Transactions are created in the account automatically when they occur, with the exchange rate attached. For outgoing transactions, the app also records the capital gain or loss in an income account.
• Reconciliation tools: You can use the reconciliation tools to view every transaction on the blockchain and within QuickBooks and can repair any discrepancies quickly. With auto-reconciliation, you can scan all QuickBooks account balances and transactions with one click and compare them with actual blockchain data.
• Contact book: Import your customers from QuickBooks, assign their names to bitcoin addresses, and link their payments to the customer records within QuickBooks for accurate customer tracking.

• QuickBooks Online users working with bitcoin: Bitcoin Sync by Blockpath connects to your QuickBooks Online account and imports your bitcoin transactions. You’ll also have access to your capital gains reports and a log of every change that has been made within the app.
• Businesses that want access to tax prep tools: With Bitcoin Sync, you’ll be able to use the Tax Prep tool to access year-round reporting. You’ll be able to view your FIFO capital gains and a live view of your tax obligations.
• Businesses that want to track customer data: Bitcoin Sync gives users access to a contact book, where you can assign your QuickBooks customers to bitcoin addresses and link their payments to the customer records.

Gilded is a cloud-based software that syncs crypto transactions to QuickBooks Online, allowing you to view all of your transactions in one place, send and receive crypto invoices, customize how crypto transactions are mapped to your chart of accounts, and view spot pricing in real time. You can also aggregate transactions from bitcoin and ethereum wallets along with leading crypto exchanges:

• QuickBooks compatibility: Gilded Premium users can sync all of their transactions to QuickBooks and reconcile them using a powerful dashboard. With this integration, you can map crypto addresses to the people and businesses that you interact with. Transactions can be classified as income, expenses, trades, and transfers.
• Crypto bill pay: Gilded allows you to accept both credit cards and crypto payments in one place with its noncustodial invoicing solution. Gilded supports both accounts receivable (A/R) and accounts payable (A/P) workflows and triple-entry accounting using Request Network.
• Compass: Gilded’s crypto accounting system, Compass lets you define rules for how crypto transactions are mapped to different accounts based on the counter-party and/or wallet. As new rules are created, it automates your reconciliation process increasingly.
• Crypto invoicing: An advanced invoicing and payment portal that’s powered by blockchain, Crypto Invoicing allows you to send invoices with an advanced scheduling option. You also can automate recurring invoices for subscription billing. Payments are detected in the memory pool (mempool) and reconciled automatically.
• Crypto mass pay: If you pay your employees in bitcoin or give bitcoin bonuses, then BTC Mass Pay is a good option. You can send bitcoin payments to up to 500 addresses in one batch transaction, and the tool updates each recipient with an email.

• Nonfungible token (NFT) platforms: Gilded allows you to generate auditable financial statements quickly for platform users, internal accounting purposes, regulatory agencies, and external stakeholders. Real-time performance insights give you full visibility into marketplace sales and collector engagement to grow revenue.
• Web-3-enabled companies: Gilded provides a single streamlined dashboard where you can view all wallets and crypto activity in one place. You can calculate exchange rates and historic pricing for each transaction automatically and include crypto transactions in financial statements.
• QuickBooks Online users: If you subscribe to Gilded Premium, you’ll be able to sync all of your transactions to QuickBooks and have access to a dashboard that allows you to reconcile them.

Cryptio lets you track all of your transactions from your wallets, crypto payment tools, exchanges, or custodians, and translate the data into records that are connected to your accounting software. Connecting your Xero account to Cryptio allows you to pull the chart of accounts directly from Xero. You can map your chart of accounts to your Cryptio transaction history, synchronize transactions, and export manual journals to Xero:

• Historical crypto-to-fiat valuation: The crypto-to-fiat valuation system provides complete transaction information, including exchange and time. Prices are sourced directly from exchanges at the exact time of the transaction.
• Dashboard: Cryptio’s dashboard provides real-time insights into which trades you should make to increase your tax refund. You can also export a cost basis report and send it to your tax advisor. Additional capabilities include tracking transaction history, reporting historical balances, and exporting ledger entries.
• Transaction labeling: You can categorize and resolve transactions at scale and set rules to assign your transactions automatically to the correct account. Cryptio also allows you to identify the counterparties of your transactions.
• Robust reporting: Cryptio’s powerful reporting capabilities allow you to access all the data you need to meet your accounting, audit, tax, and other financial reporting requirements. Reports include cost basis reports―FIFO and weighted average cost (WAC)―inventory tracking, and unrealized gains and losses tracking.
• 24/7 customer support: With Cryptio, you have access to 24/7 support and dedicated customer success teams. You also have access to a community of chief financial officers (CFOs), accountants, and auditors. Educational resources and events are offered so that you can stay on top of regulations.

• Treasury management teams: Whether you belong to a startup or enterprise company, if you’re a treasury manager who deals with crypto, then Cryptio is a good option. It automates the bookkeeping process, converting the data into traditional accounting reports needed for audits, compliance, and tax filings.
• Financial institutions, such as hedge funds and asset managers: Cryptio handles your digital asset accounting and reporting so that you can focus on preserving wealth. The platform is connected to every trade execution venue, custody solution, and DeFi application, giving you reliable insights on demand.
• Crypto native companies: Cryptio is the preferred accounting solution for companies building DeFi solutions, NFT marketplaces, metaverses, and blockchain games, staking platforms, and more.

Cryptoworth provides portfolio management and an accounting platform in one solution. The platform allows users to integrate their exchange accounts and wallets easily for the purpose of monitoring their assets on one interface. What sets Cryptoworth apart from other cryptocurrency monitoring platforms is that it provides the tools necessary for in-depth portfolio analysis while customizable charts and graphs organize the data in such a way that it showcases the portfolio’s performance history:

• Invoicing and billing: Cryptoworth allows you to send and receive crypto invoices and bills. You can receive payment in crypto in a few clicks while you control the wallets completely, and also attach bills and invoices to transactions.
• Scalability: Cryptoworth offers scalability from individual levels to enterprise levels so that you don’t have to change the software to meet the needs of growing cryptocurrency businesses. It’s connected to data points across the entire crypto ecosystem, enabling you to track millions of transactions and calculate cost basis as well as capital gains and losses.
• Cryptocurrency asset management platform: This platform is an intuitive crypto portfolio tracker, tax, and accounting module that serves to connect wallets and exchanges, synchronize transactions, and calculate taxes, among other things.
• Connectivity: Cryptoworth enables you to connect to blockchains, exchanges, DeFi protocols, custodians, NFT marketplaces, and traditional banks. It also offers transaction reconciliation and auditing and cost-based analysis.
• Strong security: Cryptoworth’s platform provides enhanced security features, such as two-factor authentication (2FA) to secure your financial data. Connections are also maintained through read-only data streams.

• Businesses that work remotely: Available for both iOS and Android users, Cryptoworth has a powerful mobile app that allows you to keep track of your portfolios and clients on the go. You’ll be able to track your wallets, exchanges, custody accounts, NFTs, and DeFi positions from within the app.
• Businesses seeking a scalable solution: Built with scalability in mind, Cryptoworth helps you run month-ends ten times faster through an automated crypto accounting software that adheres to Generally Accepted Accounting Principles (GAAP), International Accounting Standards (IAS), and International Financial Reporting Standards (IFRS).
• Miners: Cryptoworth lets you track and account for all mined digital assets from wallet to wallet