Before you proceed with downloading tax reports or assessing your performance, it's crucial to conduct a thorough review of your account for accuracy. This guide outlines the essential areas you should check to ensure your account is fully accurate and up-to-date.
All wallets and exchanges are up-to-date
Synced wallets
- From the Wallets page, confirm all your wallets have synced within the last 24 hours
- If any wallet hasn't synced recently, manually re-sync your wallets before generating tax reports
CSV-imported wallets
- Verify that you've added all your most recent transactions
- For missing recent transactions, you can import the new transactions using CSV
Check needs review transactions
Transactions flagged as needs review indicates that there are missing or inaccurate entries in your transaction history, which could affect account accuracy.
- Sign in to CoinTracker and navigate to the Taxes page.
- Go to Transaction history.
- See if you have any transactions flagged as needs review for the selected tax year.
- Click on the flag type to access a filtered view of transactions with that flag.
Learn more about how to reconcile transactions flagged as needs review.
Verify accuracy of send or receive transactions
Sometimes, send or receive transactions may only show one side of what should be two-sided trades or transfers. However, some transactions are expected to be one-sided, such as staking rewards, interest payments, and airdrops.
- Review your send or receive transactions and compare them to the history in your exchange or wallet.
- If a send or receive should be a transfer, edit the transaction to add the missing side for the transaction to be identified as a transfer.
- If you identify a send or receive that should be a trade, you might be missing transaction history. In this case, add the missing wallet involved in the transaction to CoinTracker.
- Learn more about adding all your different wallets to CoinTracker.
Check for balance differences
Balance differences indicate a discrepancy between the asset balances reported by your exchange or wallet and the sum of all transactions for that asset in that wallet recorded in CoinTracker. A difference between the reported and calculated value can indicate missing transaction history or integration gaps that require reconciliation.
- Look for an (ℹ) information icon next to your wallet list to identify balance differences. Click the symbol for detailed information about the specific mismatch for that wallet or asset.
- Learn more about reported and calculated values.
Check manual transactions to ensure they are still necessary
Check the other transactions wallet
The other transactions wallet is a catch-all wallet for any manual transactions that are not classified to an existing imported/synced wallet. Sometimes manual transactions that were created as a workaround for integration gaps that have since been resolved can get forgotten about in the Other Transactions wallet, so it's always a good idea to check and see if they are still needed.
Learn about the other transactions wallet.
Review manually added, edited, and ignored transactions
- On the Transactions page, use the Status filter to examine manual and ignored transactions.
- Confirm that these transactions still meet the needs of your account or adjust them as necessary.