Understanding and using labels in Cryptio: An overview

Labeling is an essential part of accounting. In Cryptio, labels help you organize transactions, generate accurate reports, and save time on reconciliation.

Labels aren’t just for organization — they also form the foundation of your Chart of Accounts (COA) mapping. By setting up meaningful and automated labels, you’ll make it much easier to map transactions to your COA. This ensures that when journal entries are created, they’re debited and credited correctly in your accounting system.

You can use labels to:

Account for business expenses such as marketing, salaries, product revenue, and internal transfers.
Report on blockchain-related activity like lockup amounts, rewards, burn fees, and miner fees.
Track DeFi activity such as swaps, liquidity provision, rewards, and lending/borrowing.
Track NFT activity such as purchases, airdrops, mints, and transfers.
Record fees such as gas fees or contract fees.
Identify and exclude spam tokens..

Global vs. Custom Labels

When you open the Labels page, you’ll see All labels by default. These fall into two groups:

Global labels: Cryptio’s pre-made categories, available to all users.
My labels: custom labels you create. You can create these on the Labels page (Navigate > Business dropdown > Labels) or directly on the transactions page.

To filter by type of label:

On the Labels page, click Filters.
Under Filter by label type, open the drop-down menu.
Select Global labels (or another option such as My labels).
Click Save.

Global labels are visually distinct, look for the globe icon.

Taxable vs. Non-Taxable Events

When creating labels, you can designate certain transactions as non-taxable events (NTEs).

A taxable event is any transaction that generates a gain or loss, such as selling crypto, swapping tokens, or earning rewards. These must be reported for tax purposes.
A non-taxable event means no gain or loss will be calculated. Examples may include internal wallet transfers or other exempt transactions.

Use with caution: You should only mark a transaction with a non-taxable event label if it is truly exempt from reporting. Incorrectly labeling taxable activity as non-taxable may cause inaccuracies in your reports and tax filings.

To set this up:

Go to the Labels page.
When creating a new label, select the option to mark it as a non-taxable event.

This feature is helpful for filtering out exempt transactions, but always confirm with your accounting team or tax advisor before applying NTE labels.

Applying Labels in Cryptio

There are two main approaches to labeling:

Label rules (automated methods) — save time and improve accuracy.
See: How to Automate Labeling in Cryptio (Label Rules Guide)
Manual labeling (for exceptions and one-offs) — bulk or single transactions.
See: How to Manually Label Transactions in Cryptio.

Monitoring Unlabeled Transactions

Cryptio provides a Transactions without label page under the Needs Review module. This is your safety net:

Review transactions that don’t yet have a label.
Decide whether to apply a manual label.
Or, if the pattern repeats, create a new label rule to automate it going forward.

Regularly reviewing unlabeled transactions ensures no activity slips through unclassified, protecting the accuracy of your journal entries.

Best Practices for COA Mapping

Use label rules first (From/To, Favorite Filters, Smart Contracts).
Apply manual labeling for exceptions, bulk clean-ups, or edge cases.
Regularly review the Transactions without label page.
The more automated your labels, the cleaner and more accurate your COA mapping will be.

Next Steps

To learn how to set up automated label rules, see: How to Automate Labeling in Cryptio (Label Rules Guide).
To learn how to handle manual and bulk labeling, see: How to Manually Label Transactions in Cryptio.