Help with cryptocurrency accounting

Have you used several different blockchains, wallets and crypto exchanges and are struggling to get the basis for tax calculation right? Are you missing transaction history from services you have used? Do you have DeFi transactions, loan transactions, traded together with others or generally little overview? Do you need help cleaning up several years back in time? Perhaps we can help you!
We have extensive experience with complex cryptocurrency accounting. Since autumn 2022, we have worked to develop our own methodology and software for troubleshooting and correcting cryptocurrency accounting.
Our two consultants, Daniel Naper and Njaal Søstumoen, have economics and finance backgrounds. They help our clients get their transaction history as accurate as possible, in collaboration with lawyer Hanne Reese Holm.

What do we mean by cryptocurrency accounting?

When we use the term “cryptocurrency accounting” we mean all your cryptocurrency transactions, often compiled in Kryptosekken, Koinly or another calculation program. Cryptocurrency accounting is not “accounting” according to the Accounting Act etc., but forms the basis for the figures that must be reported to the Tax Authority. The cryptocurrency transactions must be classified with the correct transaction type, e.g. trading, income, loss or gift, in the calculation program for the tax basis to be correct.

How can you help me with my cryptocurrency transactions?

If you are struggling to get the basis for tax calculation right, or want a quality check, we might be able to help. To make the crypto accounting as accurate as possible, we can help you with the following, among other things:

import transactions to calculation services, such as Kryptosekken and/or Koinly
develop custom bases for import from blockchains and services you have used where standardized imports do not exist
use our own analysis tool to identify potential errors or gaps in your transaction history
troubleshoot in Kryptosekken/Koinly and on blockchain explorers
correct or add transactions that imports often do not capture, e.g. ICO, LP, staking, NFT, loans, peer-to-peer purchases etc.
estimate transactions, gains and losses for services that you no longer have access to
prepare reports with statements and documentation that show which manual entries and changes have been made to the transaction history, which controls we have performed, and which legal assessments and choices have been made. Our report can also be used as support to document/substantiate the source of funds to crypto exchanges and banks.

I have used many different services, and am missing transaction history from several. Do you have experience with this?

Yes, we do. Very many of our clients have used many different exchanges, wallets and blockchains, and made many types of different investments. Several blockchains and crypto exchanges have been shut down, and some do not produce good transaction history. We have experience with troubleshooting and handling in connection with missing transaction history.

Does Reese Legal offer traditional accounting services?

No, we are not accountants and do not offer traditional accounting services. We collaborate with authorized accountants for our clients who need this.