This article describes "Insufficient position for sale", which is one type of invalid transaction.
- What is an Invalid transaction?
- What is "Insufficient position for sale"?
- What causes "Insufficient position for sale"? How to investigate?
- How to fix "Insufficient position for sale"
1. What is an Invalid transaction?
Cryptact calculates the cryptocurrency P&L using the calculation methods which are publicly available and the market prices. In the process of aggregating all transaction history together, any transactions that Cryptact could not correctly handle due to insufficient information are flagged as Invalid Transactions and excluded from the P&L calculation. These invalid transactions are displayed as warnings and not errors.
Even though these invalid transactions are only warnings, they are excluded from the PNL calculation, so the calculated PNL may end up being significantly different from what it should be. You must resolve all invalid transactions.
2. What is "Insufficient position for sale"?
When you upload a transaction that requires more coins than you actually own in Cryptact, the system displays the transaction as "Insufficient position for sale" as a warning, flags it as an "Invalid Transaction" and excludes it from the P&L calculation.
For example, let's say your ETH position in Cryptact is 1 and you upload a transaction that sells 2ETH. Theoretically, you cannot sell 2ETH when you only have 1, therefore, it is "Insufficient position for sale".
3. What causes "Insufficient position for sale"? How to investigate?
If you suspect you have a gap in your transaction history, try to follow the guide below to figure out what transactions are missing.
1) Have you traded on any other exchanges?
✔ Is this really all the exchanges you have traded on?
✔ Have you uploaded transaction history from all the exchanges that you have traded on since you started trading cryptocurrency?
✔ Are there exchanges that you traded on previously but stopped trading there? Have you uploaded transaction history from these exchanges also?
2) Did you have activities off the exchanges?
✔ Did you receive coins from someone for free (e.g. airdrop, bonus, etc)?
3) For each exchange, track activities in chronological order
For each exchange, analyse the list of transactions in chronological order. Are there any transactions that you had on this exchange that are missing? Please be aware that for some exchanges, only BUY/SELL transaction types are automatically supported by Cryptact.
▼ Apply the "Source" filter to look at transactions for a specific exchange
Cryptact's support statuses for various exchanges can be found below (will be updated as necessary).
4) For each coin, track activities in chronological order
For each coin, analyse the list of transactions in chronological order. Might you have bought or received this coin from another exchange? Perhaps, you are missing transaction history from that exchange?
▼ Apply the "Pair" filter to look at transactions for a specific coin
4. How to fix "Insufficient position for sale"
Invalid transactions are excluded from the P&L calculation, which means that one invalid transaction may have a knock-on effect and cause other transactions to become invalid. In this case, fixing the oldest invalid transaction may also fix the other invalid transactions.
Once you figure out what transactions are missing, let's add them to Crypact.
STEP1: Check invalid transactions
▼ In the "Transactions" screen, click "Status" →"Invalid" → "Insufficient position for sale" → "Apply" to show only invalid transactions.
▼ Click "TIMESTAMP" to sort transactions in chronological order. Check the invalid transaction with the oldest timestamp first.
▼ Click on the transaction to check the detail.
For example: in the above, you have an insufficient position in ETH and you realize you are missing the history of receiving 0.01ETH during a campaign. In the downloaded exchange file, this entry was missing, therefore, you need to upload it manually as a custom trade.
STEP2: Add missing transaction history (using our "assistant" feature)
Click "Step ● of ●" on the top right corner or the "Let's troubleshoot" button to navigate to the assistant screen (*1). (*1) For more details on the assistant feature, please refer here.
Click "Fix invalid transactions" → "Repair Wizard".
Click "Launch the Repair Wizard".
▼ The below screen gives you an overview of the issues that are causing invalid transactions. In this example, it is telling you that you have invalid transactions due to "Insufficient position". The transaction you have uploaded is trying to sell more coins than you own and it is asking you to check again that you have all the transaction history for the coin uploaded into Cryptact.
The "Repair Wizard" automatically displays each Invalid transaction one by one on the screen in chronological order, starting from the oldest transaction date and time, and it prompts you to add the missing history for each.
▼ In this example, the transaction is trying to sell more ETH than you own, hence resulting in an "Invalid Transaction" due to insufficient position. You can fix this by adding a transaction for the missing position, and depending on how you want the transaction to be processed you can select one of the four options. If you really cannot remember the background, you can select "I don't know when / at what price I received this coin", and a BUY transaction will be added as of the date and time you specify and at the price you specify.
▼ "Insufficient position" in DeFi transactions or in DeFi tokens can also be fixed in the same way, by adding the appropriate missing transactions.
If you select the "I don't know when / at what price I received this coin" option
A transaction will be added as of the date and time you specify and at the price you specify. Please note that this option should be selected only as a last resort. This is an inaccurate method aimed at producing only an approximate P&L. It will not provide a 100% accurate P&L. Please also note that the tax office may or may not accept such treatment.
From the four options, select how you want to add the missing position, then click "Create new transaction".
▼ In the below example, "I bought this coin" was selected. Check the details on the screen and click "Create new transaction".
STEP2: Add missing transaction history
If you prefer not to use the "assistance" feature and wish to manually add the missing transactions via the Transactions screen, please refer to the below articles.
[How to add transactions]
[How transactions are processed]
* For adding a transaction for a DeFi token, please use "USER-●●●" as the base. ●●● needs to be replaced with the DeFi token symbol. For details on how to check the DeFi token symbols, please refer to here.