By this stage you will have registered a Divly account, imported your transactions, connected your accounting software, and setup your automation templates. You are now ready to export data to your bookkeeping.
The process varies slightly depending on whether you chose to set up a File Export or Automated Export. We will go through both variations below.
Exporting transactions via File Export
If you prefer to upload journal entries to your accounting software by uploading files, the following steps apply:
In Divly, click on Transactions in the sidebar.
Select the transactions you want to export. Limit yourself to transactions that all share the same automation template.
On the bottom of the screen, click Select automation and choose the appropriate automation template for the transactions you have selected.
Click the blue button Export Selected. A file will be created.
In Divly, click on Exports in the sidebar.
Under Reports & Files, click on the latest file to download it.
Open your bookkeeping program and import the file to import the journal entries. The exact process for this step will depend on the specific accounting software.
Repeat the above steps for every relevant transaction type.
Tip: File exports are great if you want to preview the entries in your accounting software before they are permanently added. It also allows you to manage your own Divly account and send the files to your accountant (which they tend to be a lot more familiar with).
Exporting transactions via Automated Export
If you prefer to synchronize journal entries to your accounting software with the simple click of a button, then do the following:
In Divly, click on Transactions in the sidebar.
Select the transactions you want to export. Limit yourself to transactions that all share the same automation template.
On the bottom of the screen, click Select automation and choose the appropriate automation template for the transactions you have selected.
Click the blue button Export Selected.
The transactions have now been imported to your accounting software and are highlighted in green on Divly for future reference.
Repeat the above steps for every relevant transaction types.
Lock your transaction history
It is suggested that you lock your transactions until the end of the latest financial year you have successfully closed. This ensures that you wont accidently overwrite or delete your past transactions. Divly will prompt you to do this after you have generated your tax report.
Note: The lock feature is reversible and you can always unlock your transactions later.
Keep your portfolio up to date
When you have gone through the process once, the following months and years are usually a lot easier to manage since all your previous transactions will already have been imported and accounted for.
From here on out you can keep using Divly throughout the year to update and check your taxes on an ongoing basis. Try to use Divly to help you make more informed decisions about your crypto portfolio and taxes. In many countries you can offset your gains with your losses to minimize the taxes you pay.
Divly Expert Service - free consultation call
If you have any further questions, please feel free to reach out to our support team on Divly in the chat box found in the bottom right hand corner. If you are looking for personalized help managing your Divly account, don't hesitate to set up a free consultation call with a Divly Expert.