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Presentation in financial reports:
Purchase of cryptocurrency is recorded as a debit to the selected cryptocurrency account, increasing the balance of the crypto asset, with no impact on the Profit & Loss statement.
Sale of cryptocurrency is recorded as a credit to the selected cryptocurrency account for the cost of the sold units, and the resulting gain or loss is recognized in the Profit & Loss statement as Finance Income or Finance Expenses.
Recording Profit / Loss.
Create Other Income / Other Expense Document:
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Presentation in financial reports:
Trial Balance
Purchase of cryptocurrency is recorded as a debit to the selected cryptocurrency account, increasing the balance of the crypto asset.
Sale of cryptocurrency is recorded as a credit to the selected cryptocurrency account for the cost of the sold units.
The result of the sale (profit or loss) is recorded in a separate account that does not affect Revenue or Operating income.
Income Statement
In the Profit & Loss report, this is reflected under the Finance Income section as either income or expense.
Please Note: The approach ensures crypto is treated as a financial asset, not as a product sale.
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