Manual entry of tokens (those not listed on CoinmarketCap)

Awesome, looks promising for the CoinGecko integration. Many thanks!

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Would be very handy, yes. got my +1

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I think this one is important. I’d say there are quite a few of us out there who have at least a one “sh*t coin” that were purchased and the project is now dead. Would still like to claim these loses so definitely do not want to just ignore the transactions. Manual token entries would help to at least have balanced books.

You may also be able to use the manual data entry of users as another source of user coin support requests and possibly give users the ability to swap to a supported coin reference if/when they are added to the Accointing system.

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Any ETA on the implementation of the manual token entry? I bought some WMT which are not listed yet and would at least like to have a placeholder where I can set the number of tokens and the price I bought them. :slight_smile:

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Hey guys, our resources are on other things right now, but it is on our roadmap :smiley:

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Consider voting for this as well:

Hi Matt, thanks for the reply, even though it’s not what I was hoping for. Can you maybe give us a rough estimate on where on the roadmap this feature is? Like, “We plan on implementing it this quarter/year” or “don’t get your hopes up, it’ll take us till 2023”? The absence of this option is kind of a dealbreaker for me. I put a lot of work into getting my dataset in order since I had to do a lot of stuff manually (import staking rewards for ADA, manually import transactions from Coinex because the API is not working, etc.). However, without this option, my tax report will be wrong at that’s the main reason I use your program. So if this option won’t come in the not-so-distant future, I’ll have to switch to another program, which I would like to avoid.

3 Likes

This request currently stands at #12 for the most votes. We are focusing on those with more votes first:

I had a request to be able to have another name for Wrapped Currencies. Here is an example of how this would be helpful.

  1. We wrapped ETH, so it is an unknown currency. We have a Transaction ID and Fee.
  2. We sync the missing currency to the value of ETH.
  3. We are unable to classify it as internal.

Solution: If we were able to create a custom token for it, or do enable this: Keep original names as an option when syncing unknown currencies then Wrappers would not be an issue.
Workaround: Ignore all transactions (Since wrapping is an internal transfer) and manually add another transaction for the price of the fee and classify it as a fee and add the transaction ID if desired.

Consider voting for this: Keep original names as an option when syncing unknown currencies - #4 by Matt

Hi Matt, can you guys at least confirm that being able to add a token manually will be incorporated at some point this year please? I’ve spent literally weeks going through all my transactions and making the required adjustments so that everything will be correct on my tax form, but if I am unable to manually add or update the few tokens I have that are not listed on CMC or CG, then it will all have been for nothing as my end of year tax calculation will be incorrect.

I realise you guys work on the vote system to decide what to work on first, but I can’t help but notice that a lot of the top voted requests all have available workarounds, whereas this issue has no workaround at all and is vital for tax to be calculated correctly.

5 Likes

A statement from Accointing:
“We have a solution planned for ALL of these unknown currency problems.”
I know it is vague, but that is all I can say.

Is there at least any workaround? If not, can anyone maybe recommend any tool that will support this? I would like to use Accointing, but if there are no workarounds for this, not sure how i can use it

Here is our take now:
Liquidity Pools: below is a link to a blog post about the topic, staking pools would be handled the same way as liquidity pools. How to Import Liquidity Pool Transactions to ACCOINTING.com - ACCOINTING.com The Hub - Cryptocurrency Portfolio Tracking & Tax Software

Some Staking Articles in The Hub: You searched for staking - ACCOINTING.com The Hub - Cryptocurrency Portfolio Tracking & Tax Software

Also:

Hey guys! I understand your frustration with the staked and staking classifications so just to clear this out from our standpoint:

all tokens that were staked=do not classify
all tokens that came as a reward for staked tokens=staking

The reason why we don’t have more strict guidelines is because there aren’t any and they are subject to the interpretation of the different jurisdictions. That bein said, here is an article from Bloomberg providing further context on the matter:

Now, the lender could be considered to have converted their crypto for another crypto when they “stake” their money into the liquidity pool and received another token they can sell elsewhere. That is a taxable event, so in this example, just as dividends are taxable, so are tokens generated from staking activities.

However, it’s not as straight-forward as that because this transaction can also be viewed in another way; in that what the lender deposited in the liquidity pool is still their money and the tokens they receive in exchange is nothing more than a receipt. That means it is not a taxable event.

Meanwhile, on the borrower’s side, it can be argued that depositing collateral and receiving a loan in a different token form is akin to an exchange transaction, so a taxable event. Of course, usually taking a loan is not a taxable event. However, the transaction on a DeFi is unique. Unlike conventional loans, it includes depositing one currency as collateral to receive a loan in another.

If you need any tax assistance with your crypto taxes, make sure you visit ACTAN in the Hub where any of our crypto tax professionals can help you out.

Still this solution is NOT compatible with german tax jurisdication, where putting coins into a liquidity pool equals to selling them. So germans, who want to invest in liquidity pools, can‘s use Accointing, if they stick to the law. As of now. Custom tokens could help out here.

For german users: I described a possible workaround here:

Still waiting for a comment from Winheller, though.

My message above mentions that.

Having manual tokens would also help when calculating your NFT taxes.

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It would be a dream to come true when this feature would be added and I could end the nightmare, I brought myself into by buying the old, now defunct, LinkPool token (I’m NOT talking about LPL).

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Any time frame estimates on custom token integration?

Check back after 2 months.