Accointing is the most advanced and user-friendly tracking, management and tax platform in the crypto space.
Cointracking was the first mover in the cryptocurrency tax space, and it helped the early adopters to organize their investments. Since then, the crypto space has become more mature, and there are new tracking methods that can help investors save on taxes.
Accointing is the new generation of tracking tools and allows investors to easily switch between the different tracking methods (multiple and single depot). It reduces the effort & time to set up a tracking platform. It is a self-explanatory and intuitive platform that allows seamless connection of data for the management (tracking and accounting) of crypto investments.
This blog post will walk you through the process step by step.
Go to your Cointracking account and export your data as a CSV here:
- Log into Accointing, navigate to import exchanges and find the Cointracking tile. (If you are logging into Accointing for the first time, you will find this screen in the onboarding process).
- You will then see this screen where you can upload your export file from Cointracking.
- In the next step, Accointing will ask you to assign currency names from Cointracking to Accointing. (Cointracking has multiple currency names for 1 single Currency e.g Iota, Miota, Iot, etc. We want to make sure that we assign the correct currency during the import process.)
- We will repeat the process with all the exchanges that you imported to Cointracking. Don’t worry we will auto assign the ones that are obvious.
We have now imported all your historical data from Cointracking but we don’t have active API connections to your accounts yet. For supported exchanges you can update your API connections or also upload future CSV files directly in Accointing. For exchanges that we don’t support yet, you can use our standard excel template to upload more trades and transfers in the future.
You may see a different value in your portfolio. Don’t worry this isn’t an issue.
- Cointracking uses a different calculation method than Accointing. Their calculation allows negative balances on an exchange, which does not make much sense. Please check if you have all transfers and trades imported.
- Accointing keeps track of all the transfers from your personal exchanges to your personal wallets — we call these transfers “internal”. They don’t create a taxable event but help you to keep a precise dataset and calculate the correct taxes in the report.
Your Cointracking should now be imported and you can easily track and report all your future trades through Accointing.
If you need any help, please reach out to email@example.com or join our telegram group: https://t.me/accointing.
Solutions to possible errors:
First, you can check your different exchanges and wallets. Does everything look ok?
- Are you sure that you have all exchanges and wallets named in the correct way in Cointracking? It is possible that you have “binance1” and a “binance” exchange in Cointracking although this is just one Binance account. (If you use different exchange names in Cointracking, we upload those exchanges as separate depots and it can create errors because of missing deposits/withdraws.)
- Is there an exchange imported to your Accointing account called “Cointracking”? — if so, then you didn’t classify the name of this exchange in your Cointracking data set (trades that have no exchange/wallet information). Please make sure that you name all exchanges and wallets correctly in your Cointracking dataset before you import it to Accointing.
- Please also navigate to the missing funds page (click on the red bell in the taxes page). Here Accointing will help you solve any sort of errors regarding missing data from exchanges. If you have missing funds, please make sure that you have all deposits and withdraws and your trades imported in your Accointing dataset. “Exchange data errors” represent all the trades that have insufficient funds — Accointing doesn’t process the sell action because it would create too many taxable gains due to the missing buy information.