We shared our checklist of tips and tricks while doing crypto accounting in our blog post - Crypto bookkeeping - our unmissable 6-point checklist
We have taken this a little further and shared a video that explains what we mean by our unmissable checklist. These processes have been iterated by Evalua8 over a period of three years. Hopefully this video can drive the methodology home better.
In summary our checklist says,
Point 1 - Don't overhaul your legacy software like Xero and Quickbooks straight away
Point 2 - Supporting documents and audit trail are important and needs care
Point 3 - Transactions should be set to deduct the correct VAT % at source for UK companies
Point 4 - Have an understanding of crypto specific events such as forks and airdrops
Point 5 - Keep track of blockchain and transaction charges
Point 6 - Conduct periodic internal reviews
Happy listening!