When uploading your cryptocurrency transactions to Ledgible, the software will match inbound and outbound transactions where applicable. As an example, if you transfer 1 BTC from Coinbase to your ETH Wallet, Ledgible will show a 'Match', meaning that there is no disposal/taxable event, but rather a simple transfer from one exchange to a wallet for the same amount and around the same time, registering as an outbound transaction for the sending source, and an inbound one for the receiving source. Note that matches usually occur within an hour of transferring from one source to another.
Transaction exceptions occur when Ledgible is unable to identify the source of a cryptocurrency or is generally unable to factor in certain transactions due to a lack of data for the software to interpret, or a lack of funds for a certain asset type. This can happen for a variety of reasons, and this article will detail the most common reasons for transaction exceptions, as well as demonstrate how to locate a transaction exception by doing a running total.
Ledgible will indicate any transaction exceptions with a red banner message that appears under the Transactions tab:
Common error types:
- Missing crypto sources: if you have not uploaded all of your cryptocurrency sources into Ledgible, there could be a number of transactions between your sources that Ledgible cannot identify, as it does not have the data for one of the sources. For example, if you have a Coinbase exchange account and a Coinbase wallet and transfer 1 BTC from the wallet to the exchange, but have only connected the exchange to Ledgible, the software will only recognize the incoming transaction of 1 BTC without being able to interpret its provenance. This means essential figures such as the cost basis will not be reflected correctly Ledgible.
This exception can be fixed by uploading all of your cryptocurrency sources into Ledgible.
- Mismatched timezones: when importing transactions into Ledgible manually, either via File Import or by creating manual entries, entering the wrong timezone might affect Ledgible's ability to match transactions, as corresponding inbound and outbound transactions must occur within a certain timeframe for Ledgible to match them. If you upload a significant quantity of transactions that are meant to be matched with transactions from another source, but the software does not match them, this might due to a timezone mismatch.
This exception can be fixed by verifying the timezones contained within your file imports, double-checking the date and time for any manual entry corresponds to the correct timezone, and making sure the time zone is set correctly in your Ledgible Account settings.
- Account refreshes: When you upload a new crypto source to Ledgible, sometimes the software will not immediately match transactions until an account refresh is run. If the circular arrow in the top-right corner of Ledgible has an orange exclamation mark on it, this means Ledgible will display new data after running an account refresh.
This error is fixed by running an account refresh.
- Rounding: some cryptocurrency sources and tax software will only display your cryptocurrency assets up to a certain decimal point. When rounding happens, it can lead to Ledgible being unable to match certain transactions as it does not identify the asset quantities as matching.
This transaction exception can be fixed by matching the transactions manually, or by uploading the transaction manually to reflect the correct amount of decimals.
- Missing ERC20 tokens: on some occasions, Ledgible will not pull in a certain type of ERC20 token (for example, staked tokens, such as AAVE). If a token Ledgible can read was swapped for a token Ledgible can't on an exchange, this transaction may show up as a transaction exception as the software will not be able to see the incoming unsupported token.
This can be resolved by creating a manual entry in the case of a small number of transactions. If you have a large number of ERC20 token transactions that are not being read by Ledgible, please contact support.
- Missing lines in File Imports: If you have imported transactions via File Import and are missing a number you expect to find, please start by checking the CSV file you imported to make sure that the transaction appears there. Some exchanges, such as Binance, create a separate CSV file for different types of transactions, which must all be imported to accurately reflect your transaction history in Ledgible.
To resolve this, check your missing transactions against your CSV file, and if there are transactions missing, verify you have correctly exported your entire transaction history from your exchange or wallet.
- Incorrectly entered data: when importing data from a file or creating a manual transaction, there is more potential for error than linking an API based exchange on an on-chain wallet. This can take the shape of mis-entered details (such as entering the total price paid on a manual entry rather than the price per unit), or skipping steps (reviewing and fixing errors in the final steps of the file import process will allow those transactions to appear in Ledgible; if they are not resolved they will not appear).
To avoid these issues, please pay careful attention when entering in transaction data manually or from a File. Be sure to review all information before fully creating the crypto source in Ledgible, and if there are errors, please re-upload the source. If you have double checked the information and re-uploaded your source and there are still errors, please contact support.
If the Transactions table in your Ledgible dashboard shows multiple transaction exceptions due to missing buy orders from an exchange or transfers in from a wallet you do not own, it may be quicker to add one manual entry to cover the sum of the missing transactions (or one entry for each cryptocurrency if more than one type), rather than correct each exception one manual entry at a time. See Determining the Amount to Add to Correct Transaction Exceptions on how to calculate the amount to use and and Adding a Manual Entry to a Wallet.
Locating a transaction exception:
- Filter by the currency with the transaction exception.
- Sort your transactions by date (oldest to newest) by clicking the header Date above the date and time of the first transaction. The word date will have an arrow pointing upwards once it is sorting by oldest to newest. If necessary, enter a custom range of dates to search in under the Transaction Date filter.
- Do a running total of the quantity from oldest to newest, by adding the incoming transactions and subtracting the outgoing. When the balance dips below 0, this is where the transaction exception is located. It usually can be traced back to a withdrawal from an exchange where there wasn’t a corresponding buy order right beforehand.