This tutorial will guide you through the process of understanding how to complete missing data, should any deviations occur during the cost basis calculations. Only Business, Enterprise and Custom Plan users have access to this feature.
Please use the instructions in the guide below, or contact Blox for support.
Cost Basis - How to complete missing data
Currently, Blox only supports fully automated syncs to wallets and exchanges. It is very possible that not all of the transaction history fetched is relevant for Cost Basis calculations. Thus, the user will be required to actively review the relevant transactions and move them to the correct Tab – especially if they are misplaced within the wrong tab.
The Cost Basis feature is based on the ‘To-Calculate’ tab being populated by transaction. Only transactions in this tab will be taken into consideration when calculating.
As the first stage of the calculation, we will compare the user’s portfolio unit balance and the unit balance per token in the ‘To-Calculate’ tab. In cases where the deviation between the portfolio unit balance per token and the ‘To-Calculate’ unit balance is greater than 3%, Blox won’t calculate the Cost Basis as it wouldn’t be acceptable to certain accounting standards.
In case that the deviation is greater than 3% and the user wants to normalise the deviation,, the best solution would be to continue reviewing transactions that are in different tabs than ‘To-Calculate’ or remove not relevant transactions from this tab.