To export a transaction from Divly to your accounting software you will need to decide how it should be recorded in your ledger. This is done by editing or creating new automation templates in Divly.
Below is a set of example automation templates. Each one represents a transaction type that is to be exported to an accounting software in a specific manner.
Example: In the above list a transaction that involves earning crypto via a Staking Reward will debit the account 1932 (e.g. crypto assets) and credit the account 8310 (e.g. interest earned).
Should I use the default automation templates in Divly?
When setting up an export method in Divly, a set of default automation templates will be created. It is up to you whether you want to use them, edit them, or create new automation templates from scratch.
Creating custom automation templates will allow you to create a new journal entry classification for any crypto transaction type of your choice. Divly has built a flexible system that will allow you to customize your bookkeeping to great lengths.
This could be useful to do if you prefer for example to split:
By cryptocurrency: Rather than representing your entire crypto portfolio in one account your prefer to have one for each crypto (e.g. BTC, ETH, USDC, etc)
By exchange/wallet: Rather than representing your entire crypto portfolio in one account your prefer to have one for each exchange/wallet (e.g. Kraken, Coinbase, Ledger, etc).
If you don't set up custom automation templates, Divly will use a default set that may or may not be suitable for your company bookkeeping practices.
Note: If you are unsure about what suits your company best, have a conversation with your accountant. The Divly team is not qualified to give legal or financial advice, but can provide examples of what companies tend to do in specific countries.