ACCOINTING.com review

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ACCOUNTING.com is a one-stop platform that allows cryptocurrency users to track their crypto portfolios and file their crypto taxes. It was founded in 2018 and is headquartered in Switzerland.

It has a desktop platform and a mobile app; both have a user interface with an insightful dashboard that allows users to monitor the performance of their decentralized financial (DeFi), centralized financial (CeFi), and non-fungible token (NFT) transactions in real time.

It helps users to easily categorize their transactions and transactions for filing taxes in their respective countries or regions.

Here’s a must-read review on ACCOUNTING.com, explaining how it works, its main features, its pros and cons, and why you should use it.

How it works

ACCOUNTING.com offers a range of tools to assist with the following tasks:

  • Crypto Portfolio Tracking Including Market Overview, Market Lists, Market Alerts & Market Sentiments
  • Crypto portfolio management including asset allocation and historical portfolio performance.
  • Create tax reports, including custom tax reports, integration of tax software and tax forms (e.g. Turbo Tax, Form 8949 and WisoSteauer), and tax optimization (Trading Tax Optimizer-Tax Loss Harvesting).

ACCOUNTING.com is integrated with over 400 crypto service providers, including crypto wallets, exchanges and DeFi protocols, so you can automatically import your transactions from your crypto wallets and exchanges to calculate your profits and losses. It also allows you to make a real-time analysis of your performance and dive deep into your transaction history in the cryptoverse.

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Moreover, ACCOUNTING.com allows you to get your crypto tax reports in just 5 clicks. You can get the reports in FIFO, LIFO and HIFO formats.

You can also view the overall crypto market performance, set alerts, research trending tokens, and share the personalized and curated token list via Twitter.

Most important features

Crypto APIs

ACCOUNTING.com has over 400+ integrations with crypto exchanges, wallets, blockchains and other crypto service providers to help users import transactions from other crypto platforms.

Some of the exchanges it integrates with are Binance, OKX, FTX, BitPanda, FTX, Coin Spot, Kraken, Gemini, Poloniex, and Kucoin.

Crypto portfolio management

ACCOINTING.com has a crypto portfolio dashboard on its desktop, iOS and Android platforms that allows users to automatically connect to all their crypto exchanges and wallets to see a summary of their trades and net profits.

Crypto Tax Calculator

This allows users to automatically classify and calculate their crypto tax. It allows users to take into account all crypto activities including DeFi staking, margin trading, mining and trading. The calculator applies generally accepted crypto tax principles when generating crypto tax reports.

In addition to helping with crypto tax reporting, the crypto tax calculator also helps identify potential tax saving opportunities.

ACCOUNTING.com prices

ACCOUNTING.com has four packages: the Starter, Hobbyist, Trader and Pro.

  • Starter Pack – This is free and allows users to submit up to 25 taxable transactions per year. If you don’t do too many crypto transactions, then this is a good package for you.
  • Hobbyist Package – Allows users to submit reports for up to 500 taxable transactions per year. It costs $75 per year.
  • Trader Package – Allows users to submit reports for up to 5,000 taxable trades per year. It costs $199 per year.
  • Pro Pack – Allows users to submit reports for up to 50,000 taxable transactions per year. It costs $299 per year.
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Pros and Cons of ACCOINTING.com

Pros

  • ACCOUNTING.com allows users to easily connect to wallets and crypto exchanges and track their crypto portfolio from a single platform.
  • It allows users to easily classify crypto transactions and generate crypto tax reports.
  • It only takes about 5 clicks to generate the crypto tax reports.
  • It also includes NFT transactions when generating the tax reports.
  • Allows users to edit all transaction details to ensure tax reports are accurate

cons

  • Sometimes, especially when the crypto transactions are too many, the transaction details can be a bit confusing.
  • It also needs further integrations to include wallets like Trust wallet which is a very popular crypto wallet.

Why should you use ACCOINTING.com?

Filing crypto taxes can be quite challenging especially when you are involved in too many trades including NFTs. The hardest part is classifying the crypto transactions to determine what type of tax you have to pay and it gets even more difficult when you trade or trade different crypto products.

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ACCOUNTING.com provides a one-stop platform where you can generate crypto tax reports for filing your crypto taxes. Depending on the number of transactions you have made in that year, you can select the package you want to use.

Once you sign up and pay for your package of choice, it only takes about 5 clicks to automatically generate crypto tax reports. It saves you the pain of manually classifying and calculating how much tax you have to pay.

In addition, they have excellent customer service, best-in-class accuracy in tax report generation, and provide detailed explanatory guides to help newbies understand how to file their crypto taxes.

final verdict

ACCOUNTING.com is a game changer in crypto tax filing for individual crypto users and organizations. It does not discriminate against individuals from companies. Mid-sized businesses, small businesses, enterprises, individual freelancers, crypto whales, nonprofits, and governments choose from the same packages depending on the number of crypto transactions being considered.

It is an excellent choice when you are looking for a platform to generate crypto tax reports as you can link with any crypto service provider. It has integrated almost all crypto exchanges and wallets. Some of the exchanges and wallets that ACCOUNTING.com has not integrated is because they do not have APIs.

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