Step 1


 On the Portfolio page, head to the portfolio you want to synchronize QuickBooks to. 


Step 2


 From your portfolio screen, click on the "Accounting" tab and select Gateways.




Step 3


On the Gateway page, click on the "Connect" button for QuickBooks and sign in to your QuickBooks account to create the connection.




Step 4


Once the QuickBooks API is connected, click on the QuickBooks logo to view the general ledger account mapping setting. You will need to classify the transactions you want to map from Cryptoworth directly to your QuickBooks account. Make sure to classify the transactions in Cryptoworth using the Cryptoworth Classifications. Please see this article on how to classify transactions in Cryptoworth - https://help.cryptoworth.app/support/solutions/articles/70000587075-creating-and-assigning-classifications


The three main Crypto Chart of Accounts that are required to map out are Default Capital Gain Account, Default Capital Loss Account, and Crypto Asset Classification.



Step 5


It is important to map the Cryptoworth Classification to general ledger (GL) accounts in Quickbooks if you want to push transactions to specific GL accounts in QuickBooks. 

It is also required to select a default classification from Cryptoworth to represent the Crypto Assets in Quickbooks. Select the default Classification under "Crypto Asset Classification". Once you do this, you will be asked to map that classification to a GL account in QuickBooks. Map the classification to the desired GL account. 

Then you can map other classifications to other GL accounts or leave them unmapped. 


It is also required to map your Capital Gain and Capital Loss accounts from Cryptoworth to QuickBooks.

Once you are finished classifying the transactions you intend to map to your QuickBooks account, you can exit out from this page by clicking the "X" symbol on the top right corner.



Step 6


 Head to the Transactions tab.



Step 7


Select all your transactions and run a calculation. You will need to run a calculation.





Step 8 


Select your calculation method, in this example, we are using the default Cost Basis FIFO and for the Objective of the calculation, we are using Trailed Start. Click on calculate.




Step 9 


Select the Reports tab, then click on "Tax" in the dropdown menu. 




Step 10 


Select the "Sync to QuickBooks" button to push your calculated transactions to QuickBooks as general entries.



The calculation will queue and once complete, will automatically be updated into your QuickBooks account.


Step 11 


Head into your QuickBooks account and you will see the most recent transactions synchronized from Cryptoworth. 




Step 12 


Ensure that all mapped accounts are able to have sub-accounts on QuickBooks. If you create a custom parent and child classification on Cryptoworth, ensure it either exists on the QuickBooks COA or you must create the account and sub-account on QuickBooks