Lumping all non-auto-tracked wallets/exchanges into one catch-all “Other Transactions” is SERIOUSLY confusing. It’s not that you shouldn’t have it, but we users can track these wallets ourselves and clean up “Other Transactions” so it’s easier to go in there and figure out what’s not covered. For light users of the product they can just use “Other Transactions” as they do currently and not worry about the extra option. This should be a safe add-on.
I believe this constitutes a design flaw which causes other confusions and errors. For example this problem with a non-auto-tracked imported wallet. The basic issue is that you can’t keep up with the proliferation of coins, there will always be non-automated wallets. Your design should reflect that.
Here an option to intentionally switch an exchange to non-auto-tracked would resolve this issue.
Implementing Custom Manual Wallets:
- When adding a wallet, allow for an unsupported coin, and simply warn the user that auto-updates aren’t available yet, that they will have to track it. Simply store the coin address for later.
- As users fill up your DB with custom wallets you’ll have a better idea what coins to prioritize for auto-tracking implementation.
- Not only can the user track their activity more cleanly, when you implement a crypto you can simply sync up existing transactions (perhaps with a UI process) and start tracking.
- You will need to indicate non-auto-tracked wallets/exchanges so the user doesn’t forget to track them manually.
- This should be relatively straight forward to implement and would really help us!
After going through a serious amount of pain to do my crypto taxes, I went into a lot of detail here. I know Chandan pays attention to my inputs so it’s worth the trouble for me. You have a great product as an integrated reporting and tax filing tool that works hard to automate a great deal, and a few features would really take it over the top and allow you to charge much more, imho. I almost switched to ZenLedger over how tough this is, but I realized that you’re automation is further along.