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.
Check if all wallets and exchanges are current
Synced wallets
- Navigate to your Wallets page to confirm all your wallets have synced within the last 24 hours.
- If any wallet hasn't synced recently, manually resync your wallets before generating tax reports: How to Manually Sync Wallets and Exchanges
CSV-imported wallets
- Verify that you've added all your most recent transactions if you imported transaction history via CSV.
- For missing recent transactions, you can import just the new transactions using CSV: How to Import Transactions into a Synced Exchange or Imported Wallet
Check for 'Needs Review' transactions
'Needs Review' transactions suggest there are missing or inaccurate entries in your transaction history, which could affect account accuracy.
- Go to the 'Transaction history' section on the Taxes page to see if you have any 'Needs Review' transactions for the selected tax year.
- Click on the flag type to access a filtered view of transactions with that flag.
- Learn how to reconcile Needs Review transactions: Understanding 'Needs Review' Transactions
Verify accuracy of 'Send' or 'Receive' transactions
Sometimes, 'Send' or 'Receive' transactions may only reflect one side of what should be two-sided trades or transfers. However, some transactions are expected to be one-sided, for example staking rewards, interest payments, or airdrops, among others.
- Review your Send and 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: Complete Transaction History Checklist
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 a (ℹ) information symbol next to your wallet list to identify balance differences.
- Click on the symbol for detailed information about the specific mismatch for that wallet or asset.
- Learn more about reported and calculated values: Understanding portfolio, 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: What is my "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.