How to classify coin withdraw from one exchange to another exchange?

When I transfer coins from one exchange to another, they appear as two transactions:

  • Withdrawal from source exchange
  • deposit on the destination exchange.

Problem is that Accointing doesn’t know how to classify these transactions eventhough the amounts are almost identical (- withdrawal fee) and the same time stamp. So how do I classify these in Accointing? There should be a “send/receive” category, but don’t see anything like this.
Thanks!

The amount going out from one exchange should equal the amount going into the other exchange. You need to specify the transaction fee as a transaction fee and not include it in the transferred amount. Here is an example. In your case it would be Send from: Exchange XYZ… Receive in: Exchange ABC.
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It is an internal transaction.
Place the same transaction ID in withdraw and deposit. Accounting should be able to combine them afterwards automatically.
If you have connected both exchanges via API, you can also create a new internal transaction and ignore the automatically created transactions.

Great! Thanks for the tip!

@madangelmak thanks! I would have thought Accointing picks up the fees details from the transaction details when it connects via the API. Doing this manually would make this very painful with many transactions over a year. Do you do this manually for every transaction where fees are involved?

Hello. No I don’t do this manually for every transaction. In the example I had to because the from account I couldn’t use an API. In this case, when I synced the account on the ledger it didn’t create a duplicate that had to be ignored. The Bitcoin NH account is on NIcehash and on Nicehash you have to enter manually - which is a pain. One difference I did notice was that when I move from Nicehash manually to Coinbase and then sync my coinbase account I have to add the transaction id to the coinbase account to get them to show as internal. The only time I’ve had issues is when the transfer amounts differed because of a typing error when entering manually. Sorry I guess I can’t help. You got me curious so will be spending some time reviewing some of my transactions.

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