Common Rules

Payments / Payroll / Expenses

Crypto companies often pay expenses or contractors using crypto assets. Some of these payments occur regularly, for example paying a contractor’s monthly invoice.

Conditions:

Transaction Type → Withdrawal
From → Wallet → ✏️ <select the name of the wallet that expenses are paid from>
To → Contact → ✏️ <select the contact or address that received the expense payment>
Memo contains → ✏️ <any expense identifier, for example Invoice #>

Actions:

Categorize transaction as… → ✏️ <the expense category from your Chart of Accounts>

Primary Sale Income

Minting an NFT collection can result in very large volumes of transactions with no amounts, only fees. Some companies may choose to categories minting fees differently from other gas fee payments.

Conditions:

Transaction Type → Deposit
To → Wallet → ✏️ <select the name of the wallet that expenses are paid from>
NFT Collection -> ✏️ <select NFT collection>
Txn Action -> ✏️ Mint

Actions:

Categorize transaction as... → ✏️ <the NFT collection primary sale income category>
Categorize fee as… → ✏️ <the gas fee category from your Chart of Accounts>

Primary Sale rules must always be higher priority than secondary sale rules.

Secondary Royalty deposits

Most common with NFT companies, one primary source of income can be royalty payments from secondaries sales. These are deposited by a smart contract on a regular basis (daily or multiple times per day) into a specific wallet.

Conditions:

Transaction Type → Deposit
To → Wallet → ✏️ <name of your wallet where royalties are deposited>
NFT Collection → ✏️ <your NFT Collection address (must be added)>

Actions:

Categorize transaction as… → ✏️ <the income category from your Chart of Accounts>