In this tutorial, we will go over methods to reconcile the books when participating in liquid staking. 

The reporting of balances can be a challenge with liquid staking because the assets being staked will show up as LP tokens in the ledger. 

Step 1

If you are receiving LP tokens after depositing assets into a staking pool, it's possible that the LP tokens being received will have no market price. If you are doing a balance report or balance audit using the ledger, any held LP tokens should have their market value manually added based on the staking pool deposited assets. 

Below is an example of an LP token reflecting a USDC staking position. 

Step 2

If you unstake from the liquidity pool, you will receive your principal combined with your staking earned in one line. You will need to do a transaction split to separate the principal from the staking income. 

In this example, we will assume the 111,938.551911 USDC transaction was unstaked and that 100,000 USDC was the principal. Select the transaction and by clicking the three-dotted button, then select "transaction split".

Step 3

Split the transaction by the principal and staking income earned. The principal should be classified as such and the staking income classified in the second line in this scenario. When this is complete, finish the process by clicking the "Split Transaction" button.