Start with a complete account map
We identify the exchanges, wallets, chains and processors used by the business, including closed accounts. Opening balances, transaction dates, units, fees and transfers are assembled into a consistent record. Personal holdings and business activity must be distinguished before the ledger can be reconciled.
CRA expects transaction-level information, including Canadian-dollar values and wallet records. Export histories regularly: relying on continued access to an exchange leaves a gap if the service changes or an account becomes unavailable.
Reconcile activity without taking custody
Read-only exports and public transaction references can support the work. We never request seed phrases or private keys. Transfers between wallets, conversions, payments, staking and other activity are identified for review; their tax treatment depends on the facts and the accountant’s analysis. Valuation methods and unresolved transactions remain visible in the working schedules.
Illustrative example: an agency accepts a crypto payment
A Toronto design agency receives payment to a business wallet, moves it to an exchange and later converts it to dollars. Three records may describe the movement of the same funds. Linking the customer invoice, wallet transfer and exchange settlement prevents all three from being treated as separate customer revenue.
Questions about this work
Do you decide whether my activity is business income or capital gains?
We organize the evidence and transaction history. The appropriate tax treatment requires review of your circumstances by the responsible tax professional.
Do you need control of the wallet?
No. The bookkeeping workflow uses records and appropriate read-only information. Do not send private keys, seed phrases or unrestricted credentials.
Put this into practice
Sources and current guidance
A practical next step
Bring the records you have.
We can identify missing information, agree on the scope and organize the next bookkeeping step.
Request a bookkeeping review