This article was first published on Request - Medium
Running a business that accepts cryptocurrencies as a means of payment places gives you a unique advantage over your competitors. It allows anyone across the globe to do business with you without having to jump through hoops, paying large amounts in banking & exchange fees.
Professionally accepting cryptocurrency payments, however, also introduces the need to accurately account these flows for tax and regulatory purposes. While we are already seeing some great crypto-native accounting software being developed over the past months we don’t expect you to switch your accounting flow overnight.
We’ve included a CSV export function into Request Invoicing so that you will be able to simply import all your cryptocurrency invoices & payments into your favourite accounting software suite, such as QuickBooks, Sage or Xero.
How does it work?
Any invoice that has been created and/or paid by you through Request Invoicing lands on the dashboard, where you can get a quick overview of the payment status, outstanding invoices and/or payments due.
While the dashboard cán be used to manage your cryptocurrency business expenses, that only works when you exclusively deal with cryptocurrency as a means of payment. If you deal with both crypto & regular local currencies, that becomes challenging.
To export all your cryptocurrency invoices, click on the “Export as CSV” button located on the top right of your dashboard. This will prompt a download of all your invoices ever associated with the account you’re logged into.
The CSV file consists of all information that is required for import into your accounting software suite of choice, plus additional data to enrich your experience. This data includes:
- Invoice number
- Creation date
- Payment status
- Seller email
- Buyer email
- Invoice amount
- Invoice currency
- Payment due date
- Payment amount
- Payment currency
- Paid date ...
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Request - Medium