There are two common methods for exporting crypto transactions to an accounting system (via specific file formats or API). In this article we will walk through both of these options as well as discuss the pros and cons of using either export method.
Setup an export method in Divly
In order to send anything to your accounting system you will need to begin by choosing a method to export your transactions.
Start by navigate to Exports in the sidebar. There you will see a list of possible integrations that Divly supports. There are two types of integrations:
File Exports (e.g. SIE Export): This can be used if you prefer uploading your crypto bookkeeping to your accounting system via a file. Some accountants prefer uploading files using this method as it gives them more flexibility in managing the import.
Connect your accounting software (e.g. Fortnox, Visma): Divly supports a growing number of API connections with popular accounting systems. By setting up a direct connection, you will allow Divly to send journal entries directly to your accounting system.
Choose what suits you by clicking on the integration and following the steps to setup a connection.
Note: If you choose a File Export method, then you only need to click the integration once for it to be activated on your Divly account.
If you choose to connect directly to your Accounting Software, you will need to login and provide authorization to Divly before your are ready for the next step.
Consider your cost basis method
There are different methods to calculate gains and losses, also known as cost basis methods. By default, Divly sets this to FIFO (First-in-First-Out) for newly registered companies.
If for some reason you or your accountant would prefer to use another cost basis method, please navigate to the top right corner in Divly -> Settings -> Tax Settings. Change to the preferred rule and click the button Recalculate Gains.
Proceed to the next step!
Once you have setup and export method in Divly, you are ready for the final step - Step 5: Set up automation templates.