How to Switch From CoinLedger to cryptact

Looking to switch from CoinLedger to cryptact? Follow the instructions below to start this financial year’s tax calculation fresh on cryptact!

1.  Download "End of Year Positions" report from CoinLedger

1. Log in to CoinLedger and navigate to the “3. Tax Reports” section in the upper left tab.

2. Select "CSV Reports" in the TAX REPORT DOWNLOADS section.

3. Click the "Generate" button under "End of Year Positions". Once the report is ready, the button will change to "Download". Click it again to download the report.

2. Prepare your data 

2-1. Open the downloaded file. You'll see data in columns A–D. (Columns G–I is manually created—see the instructions below.)

2-2. If you have a single line for a specific coin, column C (Amount Remaining) shows your position for that coin, and column D (Cost Basis) shows its cost basis.

2-3. If you have multiple entries for the same coin, you need to calculate the total "Amount Remaining" (column C) and "Cost Basis" (column D) by yourself. Here's an example;

• there are two BTC records, so you need to manually determine your end-of-year position and cost basis.
• For the end-of-year position, sum the total BTC amount from the file. You can calculate this using the SUMIF formula in Excel, as shown in the screenshot below.

• For the end-of-year cost basis, you also need to manually calculate the total cost basis of BTC in the file. For example, you can use the SUMIF formula in Excel to sum the cost basis and then divide it by the total position, as shown in the screenshot below.

3. Log in cryptact and input the data on "Add Starting Balance" page

Now, you know your end-of-year positions and cost basis for each coin!

Log in to cryptact and navigate to the “Add Starting Balance” page. For detailed instructions on how to use this feature, refer to this article.

*Use the manual calculation results (#2-3), if there are multiple records of the same coin in the End of Year Positions' file

3-1. Input the data via file upload 

1. Open the CSV file “cryptact-starting-balance-template.csv” attached at the bottom of this page.
2. Fill out the file with the holdings and unit prices of each coin as shown below, then upload it to cryptact.

3. Ensure that the “COIN” column uses the coin symbols adopted by cryptact. You can check the list of coin symbols from here. 

3-2. Input data directly on the cryptact page

1. Navigate to the “Add Starting Balance" page on cryptact.
2. Enter the holdings and unit prices for each coin as shown below.
   Use the dropdown menu to select the coin/token.

4. Start Calculation

Now, you can start calculating this year's transactions on cryptact. Refer to [this article] for detailed instructions on how to perform calculations using cryptact.