SoftLedger’s full-featured crypto asset management software and robust API enable you to automate your financial management. This includes self-service customization, giving you the ability to report on customer holdings separate from internal holdings, by asset, directly on your balance sheet, and more.
If you’re operating a digital assets focused financial services firm, you likely have multiple business entities with different operations. SoftLedger enables you to operate each of these businesses with separate financials, with the ability to also see consolidated financials at multiple levels instantly. A lack of liquidity remains one of the most important issues in the industry. To effectively manage liquidity for your clients, you need a real-time view of your balances and other key financial data. With SoftLedger’s powerful reporting features, you have the data you need to make informed strategic decisions.
Organizations that support decentralized protocols come in many shapes and sizes, but these nonprofits generally require more financial accounting controls than other companies. The ability to earmark funds for their intended purposes is key for nonprofits, which is complex even when dealing with USD, EUR, or GBP. SoftLedger’s digital asset management functionality helps nonprofit organizations consolidate their financials in real-time while maintaining an effective control environment.
Miners have a high volume of small transactions which need to be tracked by facility, location, and machine, then collapsed and ingested into their general ledger. It’s a complicated process on its own, but Bitcoin miners also have extensive fixed asset accounting needs. SoftLedger supports a high volume of transactions, multi-dimensional financial reporting and has an open API. This gives miners the ability to automatically ingest transactional data so disbursements are automatically recorded.
SoftLedger crypto asset rates are automatically pulled from CoinMarketCap.
SoftLedger’s crypto module automatically calculates the cost basis of your crypto transactions and then generates a journal entry to record any associated gain or loss. These journal entries are then instantly reflected in our financial reporting module.
Users are able to directly connect to the top blockchains, exchanges, and wallets and automatically import transactions into the system. Strong interoperability with Excel also ensures that transactions can easily be added, in bulk, to the system.
SoftLedger is a full-featured cloud accounting platform, deliberately designed to account for crypto. SoftLedger users are able to manage their books, crypto, and fiat from within one system. There is no accounting integration to maintain. Here are more tips and tricks around accounting for crypto assets.
SoftLedger automatically calculates your costs basis using FIFO (First-In, First Out). Specific Identification may also be used within SoftLedger to calculate cost basis.