Binance: Double Counting Fees

[Crumbi]

Dear Accointing team

I finally managed to pinpoint why accounting shows many small missing balances - again spending hours of my own time.

I am shocked to see that you are double-counting the fees for some transaction.
In the screenshot below you see that the top order is stating that I am missing 2.95EUR which is the sum of the fees of the 4 EUR purchases. it loos like that the Cost Basis needs to be minus fees!!!
On the other hand, the fees paid for adding funds is accounted for correctly.

I am really surprised how something like that can be wrong!!! This is the biggest exchange and errors like that really should not happen.

[Matt]

Thank you so much for bringing this to our attention! I have created a bug for it and will keep you posted once this is fixed. I appreciate your time and patience.

[Matt]

Do you notice this only on Binance or more other exchanges as well?

[Crumbi]

From what it looks like it only happens one Binance when using EUR to purchase coins. I didn’t see that issue when using eg USDT.

[Matt]

Thank you for this information, it helps us pinpoint issues, I will create a bug report

[solateli]

A few days ago I reported a similar issue here: Fehlende Mittel trotz korrekter Transaktionen

I also suspected an error with the fees and only noticed this with Binance and not other exchanges.

[Crumbi]

Hi

Check out my guide I posted earlier.

Binance: Guide to Fix Outstanding Issues on Binance

Dear Accointing users As I spent a lot of time figuring out all the issues with my Binance account, I thought I share a user guide on how to fix the issues I observed. Note that these are fixes that worked for me. Initially, I had thousands of USDT differences. After applying the fixes below, I was left with a difference of 4 USDT cents, which I think is a result of rounding. Note: I have reported all of these issues to the Accointing team. I will update the list as they get resolved. Downloa…

[Matt]

The team issued a fix with Binance, however, we are experiencing another issue with it. Thank you for sticking with us as we work through this issue. I imagine that this will be fixed soon.

[mhof]

The “fix” did not work, unless they are still “fixing” this. On the latest API refresh, EUR deposits are now double counted, the fees are still wrong. Is anybody at Accointing still working on it?

[mhof]

Are you still working on this? Can you give us an update?

[Matt]

I believe we were able to fix the Binance fee issue.

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Hey guys, so for the fee issue, a fee in our system is actually a separate transaction in our software.
So let’s say you want to send 100 BTC to another wallet and it has a fee of 1 BTC to send.
The correct way to add this into our system would be the following:

Transfer 99 BTC with a fee of 1 BTC

A common issue is that users think that the fee is subtracted from the amount and will get this issue:

(This is just a hypothetical example with easy math to make it more understandable.)

Please let me know if you are still experiencing this issue.

[Matt]

I just got word that we are testing the fix and that the fiat Binance fee issue will be fixed next week.

[mhof]

What is the status on this? My balances are still way off for the fiat transactions.

[Matt]

Please see the solution to this post: Help! Duplicate Transactions - #51