How do I make crypto holdings clear for an accountant or finance department?
By R.T. (Tyler) Dijst, blockchain investigator at Paucitas
Paucitas is an independent expert firm in the Netherlands that investigates investment fraud and crypto fraud and establishes legitimate crypto assets.
What Paucitas does to make crypto holdings clear
We bring together all the addresses and exchange accounts belonging to the organisation and turn them into a closed overview: opening balance per period, all movements with date, counterparty address and transaction hash, and the closing balance. Where needed we split by entity, by wallet or by cost centre.
We also flag the items an accountant will ask about: transfers between own addresses, deposits from a private address, and transactions where the counterparty is not established.
What you supply
The addresses and accounts belonging to the organisation, the export files from the exchanges and the period concerned. If the finance department does not know every address, we start with the known ones and look further from there.
What you receive
An overview in table form you can import or copy across, an explanation of the method and rate source used, and a list of open points. That lets the accountant assess rather than reconstruct.
If a director also holds crypto privately, we keep that separate. See also the question on company crypto holdings mapped out.
How to get started
You send the addresses and the period. In a first conversation we discuss the form in which the finance department wants the overview.
European supervisors publish background on crypto assets and the rules that apply to them: see ESMA and EBA.
We do not prepare financial statements and we do not give a view on recognition or valuation in the books. That remains your accountant work.
Frequently asked questions
What does an accountant want to see for crypto holdings?
An opening balance, all movements with their source, a closing balance and an explanation of the rate source and method used.
Can this cover several entities?
Yes. The overview can be split by entity, by wallet or by cost centre.
Does Paucitas prepare the financial statements?
No. We supply the underlying overview; recognition and valuation stay with your accountant.
Your own situation
If you are reading this, you probably have a question about your own situation. That is exactly what Paucitas does.
The first step is contact by phone. We prefer to schedule that call through WhatsApp, so you do not have to wait. In the call we look together at what can factually be established in your case and what Paucitas can examine for you.