Home » Streamline crypto accounting on Stacks in simple steps

Streamline crypto accounting on Stacks in simple steps

Cryptoworth enables Stacks-based projects to leverage the software to easily manage a single source of truth for crypto data.

For projects working with crypto, tracking the entire financial activity trail needed for bookkeeping and other important financial reporting can be challenging. The same is true for the growing number of companies and individuals building on Bitcoin via the Stacks layer, so Cryptoworth has integrated Stacks to offer its institutional-grade services to those throughout the Stacks ecosystem who are in need of crypto accounting tools, tax solutions, and much more.

Cryptoworth enables Stacks-based projects to leverage the software to easily manage a single source of truth for crypto data. Rather than requiring multiple solutions for crypto accounting, portfolio management, financial reporting, AR/AP, and more back-office operational processes, Crypto One combines the entire workflow into a single place. Set up is as easy as connecting your Stacks wallets. 

Once your Stacks wallets are all fully connected, the transactions are consolidated into your transaction ledger. This is where the bookkeeping magic happens and the financial reports are made possible.

For Stacks NFT accounting and reporting on Cryptoworth, the NFT transactions are consolidated into the ledger and NFT specific reconciliation is available through the in-platform NFT dashboard. For non-fungible token projects building on Stacks, connecting the project wallets will display NFT-related transaction events, including mints, minting fees, NFT buys and sells, etc. The NFT assets can be managed through the NFT dashboard and through NFT-focused reconciliation tools. Market values for NFTs can be pulled through any NFT marketplaces connected to Cryptoworth.

At Cryptoworth, our mission is to reduce the complexity of cryptocurrency adoption, usage, and management. Through our integration with Stacks, we are very excited to help the Stacks ecosystem to improve back-office workflows so that the teams can focus on doing what they do best.   

In collaboration with the Stacks Foundation, Cryptoworth is offering a full free financial quarter trial* of our Crypto One Business Tier 1 subscription.

Come try out our solution that is trusted by many well-known projects like Aave, Axie Infinity, cLabs, Moonbeam Foundation and more!

Get started with Cryptoworth’s automation for web3 accountants, or request a Demo with one of our digital assets experts.

Would you like to find out more about Cryptoworth? Show your interest through our short form here: https://forms.gle/TMxDNNurrfhxnRTG8

*Conditions Apply

  • The Crypto Crisis in Accounting 
    Explore the pressing issues facing the accounting profession, especially when dealing with crypto clients. Gain insights from Sharon Yip, CPA, co-founder and CEO of Chainwise Academy, as she discusses challenges and solutions for accountants in the crypto space.
  • Are Free Crypto Accounting Software Any Good?
    Top Free Crypto Accounting Software in 2024: Discover if CoinLedger, Koinly, and CoinTracker are the best #1 Free Crypto Tax Software for your needs. But are they good enough for comprehensive accounting purposes?
  • FIFO vs. HIFO Crypto Accounting: Which Method is Best for Your Company?
    In the US, a company’s crypto taxes depend on whether a profit or loss was made when selling or trading cryptocurrency, based on the price change since acquisition. Using Cryptoworth, finance professionals can calculate profits with various methods: FIFO, LIFO, HIFO.

Author

Post navigation

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *