Crypto accounting and tax for your company

The first step is to list the exchange accounts, wallets and other positions used by the company. For each account, we identify its holder, purpose, period of use and available records. If a director also uses crypto-assets personally, the two scopes must be clearly separated. A shared wallet or a payment from a personal account requires an explanation and supporting evidence.

An on-chain transaction is a movement recorded on a blockchain. It provides technical information but does not necessarily describe the contract, invoice or commercial reason behind a payment. Conversely, a transaction within an exchange may appear in its export without producing a separate transaction visible on the blockchain.

We reconcile these sources with the company’s records: bank statements, invoices, contracts, subscription evidence and decisions. Dates, assets, quantities, fees and counterparties help track transactions and identify missing information. The valuation method and pricing sources adopted also need to be explainable.

Illustrative example, not a client case. A company buys 0.10 BTC on an exchange and then transfers it to its own custody wallet. The purchase and transfer are two events to track, but the transfer alone does not create a new sale or revenue. The exchange withdrawal must be linked to the wallet receipt, fees must be separated and ownership of both accounts must be established. Keeping only one account’s statement leaves an incomplete history.

• Purchases and disposals: connect funding, quantities, fees and supporting evidence.
• Commercial payments: reconcile the payment with its invoice and any conversion. Our crypto payments for retailers page explains this process.
• Protocol income: distinguish staking, lending, rewards and other arrangements by examining how they work and the associated rights. An automatically generated software label does not establish the transaction’s accounting classification.
• Mining: connect pool payouts with wallets and operating records. Explore our support for mining activities and equipment.
• Shareholder and company transactions: document their purpose and agreed framework rather than treating them as operating income.

Depending on the agreed work, the file may contain an inventory of accounts and wallets, reconciled transaction history, quantities and balances, documentation of accounting treatments and a list of unresolved points. Accounting entries and year-end information are prepared within the defined engagement. The work can form part of our accounting assignment or be handed over to your existing accountant under an agreed arrangement.

The scope depends on transaction volumes, blockchains and protocols used, the age of the records and export quality. We specify required data, checks, deliverables and responsibilities in the engagement letter. Where information is missing, we identify reconstruction limits rather than presenting incomplete records as fully reconciled.

Regular collection reduces last-minute searches. Retain complete exports, including those from closed accounts, and record the context of unusual transactions when they occur. Accounts, contracts and wallets must remain identifiable after a change of provider or internal contact.

Read more: developments in French ANC accounting rules, corporate crypto treasury, and accounting for crypto service providers and MiCA.