In this tutorial, we will go over methods to reconcile the books when participating in non-liquid staking.
The reporting of balances is a challenge with non-liquid staking because the assets being staked will not show up in the connected wallets, therefore one of two options must be taken.
Option 1: Add a manual "RECEIVE" event transaction into your ledger depicting the equivalent balance that is in the staking pool.
Option 2: Ignore the "SEND" event in the ledger of the assets sent to the staking pool. This will make the ledger behave as if those assets never left the wallet.
In this tutorial, we will go through both options starting with option 1.
Find the transaction event where you deposited assets into a staking pool, this will be a "SEND" event. We will use the below transaction for this example of 111,705.088087 USDC being sent to a staking pool.
To reconcile your ledger for an audit or ledger-dependent balance report, add a manual transaction as a "RECEIVE" event of the equivalent token amount deposited to the staking pool. Click the three-dotted button next to Calculate and select "Add Manual Transaction".
Select the "Receive" transaction type then chose your connection source where you will be adding the manual transaction. This should be the wallet you are staking with.
Select the "Search for cryptocurrencies field and chose the cryptocurrency that you deposited into the staking pool. In this example below, USDC. You will need to put the exact amount being staked.
Make sure the "Date time" is set so that the RECEIVE transaction occurs after the SEND event. Then add the transaction, you will be able to see the manually added transaction in the ledger and you can filter specifically for manually added transactions as well.
Find the transaction event where you deposited assets into a staking pool, this will be a "SEND" event. We will use the same transaction from the previous option, the USDC amount that was sent to a staking pool.
Classify as "ignore" the transaction. Upon the next calculation, this will result in your ledger behaving as if those assets never left the wallet. This strategy can be used to reconcile the balances via the ledger for an audit.