How Taxbit Simplifies Your Accounting Reporting

Explore how Taxbit seamlessly integrates data, categorizes transactions, and generates reports, ensuring your accounting processes are streamlined and audit-ready.

Step 1

Ingest and Unify Data Across Ecosystems

Step 2

Automate Calculations with Unmatched Precision

Stay compliant with FASB and IFRS standards. Generate audit-ready outputs with proper documentation.

Categorize and reconcile large volumes of transactions. Align with operational workflows and resolve mismatches.

Automate cost basis, gains/losses, impairment, and fair market value adjustments.

Step 3

Deliver Reports & Integrate with Accounting Systems

Generate reports instantly, and experience powerful integrations with your existing finance and accounting systems.

FASB and IFRS Support

Effortlessly run calculations on digital asset holdings to generate reports that adhere to global accounting standards. Download a summary balance for any date range or wallet, track realized gains and losses, or see a breakdown of NFT transactions.

FASB and IFRS Support

Save time and gain confidence in your transaction data using TaxBit’s customizable rules engine to assign categories and memos. Everything automatically syncs to your ERP.

Custom Categorization

Automate tax and accounting treatments for internal transfers between multiple legal entities. Maintain differentiated books for accounting and corporate tax purposes.

Legal Entity Support

PMA gives you the tools to guide price selections from particular exchanges when determining crypto fair value measurements: select the time frame, assets, exchanges, and types of trading activities that are relevant to you.

Principal Market Analysis

Map digital asset activity to the Chart of Accounts in your ERP system for traceability and auditability. Flexible configurations allow you to choose the accounting method (e.g. FIFO, HIFO, Weighted Average, etc.), sync cadence, and create dedicated accounts by asset type.

ERP Integration

Stay audit-ready, with a platform that is independently SOC 1 Type 2, SOC 2 Type 2, and ISO 27001 certified.

The Leader in Digital Asset Accounting

TaxbitBitwave
On-Chain & Off-Chain Data Accuracy
Proprietary Accounting IndexersNo proprietary indexers; relies on API integrations for accuracyClaims extensive integrations but lacks depth
Smart Contract TrackingRelies on explorer APIsBasic support, but lacks precision
Data CompletenessRegular improvements and releasesLimited updates; struggles with data accuracy at scale
Internal Controls
Sanity Checks for Transaction CompletenessLimited automated checks; relies on manual reconciliationBasic support, manual intervention required
Trial Balance DashboardLive chart with account balances; automated reconciliationNone
Accuracy Review WorkflowBuilt-in review process, flags errorsBasic support, limited flexibility
Automated Labeling & Reporting
Automated Labels & Contact SetupContact ID, individual labels, & rule-based functionalityLimited rule-based labels
GAAP & IFRS Reporting SuiteComprehensive support with Big 4 validationBasic GAAP compliance; lacks depth for high transaction volumes
Accounting IntegrationsQuickBooks, NetSuite, SAP integrationsNetSuite, QuickBooks, Xero, Sage support
High Transaction Volume Processing
Cost Basis MethodologyFIFO, LIFO, WAC with support for multiple accounting standardsFIFO, LIFO, WAC, but struggles with implementation at scale
Transaction Processing PowerCapable of processing high transaction volumes; optimized for enterprise useLacks reliability and consistency at high volumes
Token Treatment by RequirementBasic organization based on transaction typesLimited token categorization and manual intervention needed
Customer Support & Expertise
Experience with Audit PreparationExtensive U.S.-based support with Big 4 and regulatory compliance experienceBasic support for audits, but lacks deep experience
Accounting Strategy ExpertsTeam includes CPAs and tax attorneys experienced in FASB and Big 4 best practicesLimited team of CPAs; lacks expertise depth
Dedicated Customer SuccessU.S.-based support with white-glove service and dedicated account managersSome support available, but lacks consistency
TaxbitCryptio
On-Chain & Off-Chain Data Accuracy
Proprietary Accounting IndexersNo proprietary indexers; relies on API integrations for accuracyBattle-tested indexers for accounting-focused use; supports extensive integrations
Smart Contract TrackingRelies on explorer APIsTracked by Cryptio’s Smart Contract Engine
Data CompletenessRegular improvements and releasesVertically integrated node hosting with regular updates
Internal Controls
Sanity Checks for Transaction CompletenessLimited automated checks; relies on manual reconciliationComprehensive in-app checks (wallet, token levels, material assets)
Trial Balance DashboardLive chart with account balances; automated reconciliationLive chart of accounts with real-time balances and debits/credits
Accuracy Review WorkflowBuilt-in review process, flags errorsMonthly reconciliation checks, including unlabeled transactions and internal transfers
Automated Labeling & Reporting
Automated Labels & Contact SetupContact ID, individual labels, & rule-based functionalityCustomizable labels for revenue, expenses, swaps, and DeFi transactions at scale
GAAP & IFRS Reporting SuiteComprehensive support with Big 4 validationReporting suite with guidance on transaction-level gains/losses and portfolio balances
Accounting IntegrationsQuickBooks, NetSuite, SAP integrationsExtensive integrations with platforms like SAP, QuickBooks, Dynamics365
High Transaction Volume Processing
Cost Basis MethodologyFIFO, LIFO, WAC with support for multiple accounting standardsSupports FIFO, LIFO, HIFO, and WAC with audit-tested stability
Transaction Processing PowerCapable of processing high transaction volumes; optimized for enterprise useProven ability to handle over 100M transactions with high accuracy
Token Treatment by RequirementBasic organization based on transaction typesIntelligent categorization with AI for contract-based transactions
Customer Support & Expertise
Experience with Audit PreparationExtensive U.S.-based support with Big 4 and regulatory compliance experienceTrack record of assisting 100+ enterprises in audit preparation
Accounting Strategy ExpertsTeam includes CPAs and tax attorneys experienced in FASB and Big 4 best practicesCollaborative team with Big 4 partners and industry best practices
Dedicated Customer SuccessU.S.-based support with white-glove service and dedicated account managersDedicated account managers with technical support from setup to audit readiness
TaxbitTres Finance
On-Chain & Off-Chain Data Accuracy
Proprietary Accounting IndexersNo proprietary indexers; relies on API integrations for accuracyExtensive on-chain & off-chain data integration; “data lake” approach
Smart Contract TrackingRelies on explorer APIsEffective tracking, high accuracy for transaction capture
Data CompletenessRegular improvements and releasesCommits to 100% automated data coverage
Internal Controls
Sanity Checks for Transaction CompletenessLimited automated checks; relies on manual reconciliationLimited internal controls, strong focus on data but weak accounting controls
Trial Balance DashboardLive chart with account balances; automated reconciliationBasic reporting with customizable options, but lacks a dedicated trial balance
Accuracy Review WorkflowBuilt-in review process, flags errorsLimited review workflow, relies heavily on data integration
Automated Labeling & Reporting
Automated Labels & Contact SetupContact ID, individual labels, & rule-based functionalityBasic labeling; prioritizes transaction completeness over extensive labeling
GAAP & IFRS Reporting SuiteComprehensive support with Big 4 validationLimited support; lacks structured reporting for regulatory compliance
Accounting IntegrationsQuickBooks, NetSuite, SAP integrationsLimited accounting integrations, with a focus on data handling rather than full financial systems
High Transaction Volume Processing
Cost Basis MethodologyFIFO, LIFO, WAC with support for multiple accounting standardsLimited cost basis options; prioritizes data tracking rather than cost basis accuracy
Transaction Processing PowerCapable of processing high transaction volumes; optimized for enterprise useHigh data processing capability, especially for on-chain/off-chain transaction capture
Token Treatment by RequirementBasic organization based on transaction typesStrong categorization but lacks nuanced token treatment
Customer Support & Expertise
Experience with Audit PreparationExtensive U.S.-based support with Big 4 and regulatory compliance experienceLimited audit preparation experience
Accounting Strategy ExpertsTeam includes CPAs and tax attorneys experienced in FASB and Big 4 best practicesData-focused team; limited accounting expertise
Dedicated Customer SuccessU.S.-based support with white-glove service and dedicated account managersLimited customer success; focuses more on data management than user guidance

Save Time

Automate processes, calculations, and reporting to save valuable time. Taxbit’s efficient system handles repetitive tasks, allowing you to focus on strategic activities rather than manual work and reconciliations.

Save Time
Trust Your Data

Trust Your Data

Incoming data feeds are cross-referenced for accuracy and reconciliation views make it easy to spot data gaps. Our accounting suite automatically integrates all your data and matches your records.

Audit-Ready

Taxbit ensures you are always prepared for audits with comprehensive report generation capabilities. Our suite is independently certified with SOC 1 Type 2, SOC 2 Type 2, and ISO 27001, guaranteeing the highest standards of security and accuracy in your financial reporting.

Audit-Ready

Accounting solutions for your whole team

CFO

Get a high-level view of your accounting with consolidated dashboards and roll-forward reports across multi-entity, multi-currency operations.

Controller

Automate transaction ingestion, chart of account mapping, and journal entry creation to save time and streamline period-end close processes.

Financial Analyst

Analyze stablecoin activity, cross-chain fees, and payments while running reports to uncover business trends and opportunities.

Treasurer

Manage cash flow across your digital asset portfolio and simplify cross-border fund movements with real-time visibility.

Auditor

Streamline audits by granting access to audit-ready reports, ensuring transparency and efficiency during review processes.

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