Industries
Crypto and web3
Finbryn consolidates wallet and exchange activity into one ledger using crypto-specific tools that track cost basis at the lot level, so transfers between wallets do not lose their history. Staking rewards, gas fees and token swaps are categorized consistently inside QuickBooks Online or Xero.
Management report
Illustrative client · August 2026
USD
| Line | Aug | Jul | |
|---|---|---|---|
| Revenue | 142,380 | 131,904 | +10,476 |
| Cost of sales | (51,260) | (48,115) | (3,145) |
| Gross profit | 91,120 | 83,789 | +7,331 |
| Payroll | (46,300) | (45,900) | (400) |
| SoftwareNoted | (6,480) | (5,490) | (990) |
| Rent | (8,000) | (8,000) | 0 |
| Other operating | (9,215) | (9,870) | +655 |
| Net income | 21,125 | 14,529 | +6,596 |
Reviewer's note
Software is up on last month after two seats were added mid-month. Revenue includes one milestone invoice that will not repeat next month.
Illustrative. An example of the document, not a client's figures.
Exceptions report
Where the books usually hurt
Transactions across multiple wallets and exchanges need to be pulled together into one ledger, not left scattered
Cost basis on tokens moved between wallets gets lost without a tool tracking lot-level history
Gas fees, staking rewards and token swaps each get treated differently and often get miscoded
Month-end valuation of token holdings swings enough to distort the profit and loss if it is not handled consistently
A wallet address is not a bank statement
Crypto businesses often operate across a dozen wallets and several exchanges, and none of those platforms produce anything resembling a clean bank statement. A transfer between two wallets the business controls is not a taxable disposal, but ordinary accounting tools have no way to know that unless the wallet-to-wallet movement is tracked and matched.
Finbryn uses crypto-specific ledger tools such as Bitwave, Cryptio or Koinly to pull activity from every connected wallet and exchange, match internal transfers so cost basis follows the asset rather than resetting at every hop, and feed the reconciled result into QuickBooks Online or Xero as normal journal entries. That separation between the crypto-native ledger and the accounting system is what keeps cost basis intact.
Staking rewards, gas fees and swaps
Each type of on-chain activity gets treated differently in the books. Staking rewards represent income at the time they are received and need a value assigned to them. Gas fees paid to execute a transaction are a cost of that transaction, not a separate unrelated expense. Token swaps involve disposing of one asset and acquiring another, which affects cost basis and realized gain or loss even though no cash ever touched a bank account. We apply consistent treatment to each category every month rather than reclassifying transactions after the fact.
Monthly valuation without letting price swings distort the picture
Token holdings can swing significantly in value within a single month, and marking every holding to market at month end can make the profit and loss swing along with it in ways that obscure the underlying operating performance. We apply a consistent valuation methodology and disclose it clearly in the monthly report, so anyone reading the numbers understands what is operating result and what is market movement.
Working with Finbryn
You keep your QuickBooks Online or Xero file. A named pod manages your account, with a recorded handover memo if that pod changes, and books close by business day five. Businesses bringing years of unreconciled wallet activity into order typically start with a catch-up project, priced separately based on transaction volume and number of wallets, before moving to ongoing monthly bookkeeping. Pricing is published on our pricing page.
Questions
Frequently asked questions: Crypto and web3
Do you track cost basis across wallets and exchanges?
Yes. A crypto-specific ledger tool consolidates wallet and exchange activity and matches internal transfers so cost basis follows the asset rather than resetting at every hop.
Can you handle staking rewards and token swaps?
Yes. Staking rewards are recorded as income at the time received, and token swaps are treated as a disposal and acquisition affecting cost basis, categorized consistently each month.
How do you handle month-end valuation of token holdings?
We apply a consistent valuation methodology and disclose it in the monthly report, so price swings in holdings can be separated from actual operating performance.
Can you reconcile activity across a dozen or more wallets?
Yes. Wallet count is not a limiting factor; the crypto-specific ledger tool consolidates activity across as many wallets and exchanges as the business uses.
How do you handle cost basis reporting for Form 8949?
Cost basis, holding period and realized gain or loss are tracked transaction by transaction across the wallets and exchanges you connect, in the format a credentialed preparer needs to complete Form 8949. We do not calculate or file the tax return itself; that stays with your signer.
What are the common bookkeeping challenges for a crypto and web3 business?
Beyond the basics, gas fees, staking rewards and token swaps each get treated differently and often get miscoded and month-end valuation of token holdings swings enough to distort the profit and loss if it is not handled consistently come up often in this industry. We build the chart of accounts and reconciliation process around those specific patterns rather than a generic template that ignores how the business actually operates.
What software do you support for crypto and web3?
We work inside QuickBooks Online and Xero, along with the other tools listed on this page that are common in the crypto and web3 industry. If you have no file yet, we set one up in your name so you own it from day one.
Related services
- BookkeepingMonthly bookkeepingOngoing monthly bookkeeping: transactions sorted into categories, accounts reconciled and month-end reports delivered in the software you already use.
- BookkeepingCatch-up and cleanup bookkeepingMonths or years of books brought up to date and reconciled, with a written record of every adjustment, so monthly bookkeeping can start from a clean base.
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.