Balance sheet accounts at Cryptio

Balance Sheet Accounts are part of a company’s Chart of Accounts. They show the company’s financial position at a specific point in time, usually at the end of an accounting period.

These accounts include:

• Assets: resources the company owns, such as cash, accounts receivable, inventory, and property.

• Liabilities: debts or obligations the company owes, such as loans and accounts payable.

• Equity: the residual interest in the company’s assets after deducting liabilities. This includes common stock, retained earnings, and other reserves.

Together, these categories provide a snapshot of a company’s financial health.

Balance Sheet Accounts in the Context of Digital Assets

The purpose of Balance Sheet Accounts is the same in both traditional finance and crypto: to show assets, liabilities, and equity. However, the nature of what is recorded can be quite different.

• Assets

  • In traditional finance, assets are often physical or financial (e.g., cash, real estate, or stocks) that can be easily valued and converted into cash.

  • In crypto, assets are digital (e.g., cryptocurrencies like Bitcoin) that are stored in digital wallets. These may be harder to value and convert into fiat currency.

• Liabilities

  • In traditional finance, liabilities include loans, accounts payable, and other contractual obligations.

  • In crypto, liabilities may include obligations from smart contracts or deferred revenue from presale tokens.

  • Note: Token issuance costs themselves are not liabilities. Instead, they are accounted for separately—either expensed or capitalized, depending on the accounting treatment.

Despite these differences, both systems face the same accounting challenge: accurately recording and reporting financial obligations and resources. This is where Cryptio helps bring clarity around crypto-specific accounting issues.

Balance Sheet Accounts in Cryptio

Mapping Your Chart of Accounts

When you assign asset accounts in Cryptio, these affect your Balance Sheet Accounts. You’ll see this when mapping your Default Account, as shown in the example below:

Relevant Reports in Cryptio

Cryptio provides several reports that include Balance Sheet Account information. Each report can be accessed through the Help Centre guides:

• Portfolio Balance (Wallet Breakdown) — Shows historical balances for each asset per wallet, with the option to filter by specific assets.

• Historical Balance Asset Breakdown — Displays:

  • Start and end balances for assets,

  • Valuation movements during the period,

  • Deposits and withdrawals.

• Trial Balance — Lists the debits and credits for Asset, Expense, Income, and Equity accounts.

• Ledger Entries — Provides a universal accounting report that you can export and re-import into your accounting system.