SoftLedger

SoftLedger Review Guide: Everything You Need to Know + FAQ

Are your API keys, CSVs, and month-end close all ganging up on you? If crypto transactions, multi-entity rollups, and tax prep keep slipping through the cracks, you’re not imagining it—the workflows most teams use simply weren’t built for this level of noise.

Describe problems or pain

Crypto accounting isn’t just “more transactions.” It’s a relentless tangle of wallets, exchanges, tokens, base currencies, FX remeasurement, and intercompany activity—and those moving pieces break the minute you lean on manual processes.

• APIs throttle and drift: Pulling a year of fills from an exchange? Expect rate limits, pagination headaches, and the occasional schema change. Even large venues like Binance document strict rate limits. Miss a page and your P&L is off.


• CSVs fail silently: Headers shift, time zones misalign, and fees get dropped. Research on spreadsheets has shown error rates are stubbornly high—Ray Panko’s long-running reviews point to widespread issues in real-world spreadsheets.


• Multi-entity adds a second boss fight: Intercompany crypto transfers, eliminations, and base-currency consolidations pile on top of already noisy on-chain data. One missed rate table and your consolidated equity swings.


• Audit trail gaps: Without a system of record tied to each wallet, exchange, and rate source, you’re stuck rebuilding history during audit—or worse, during tax season.


• Close cycles drag: Benchmarking groups report many finance teams still take a week or more to close even in “normal” environments; add crypto volume and it balloons. Every day you stay in the close is a day you’re not analyzing performance.

“We thought CSVs were fine until we reconciled three entities with cross-chain transfers. The eliminations looked okay—until we reloaded a ‘fixed’ file and realized fees had been excluded in half our fills.”

If any of that sounds familiar, you don’t need a prettier spreadsheet; you need better plumbing, a real GL, and crypto-aware controls.

Promise solution

Here’s the plan. I’ll break down where SoftLedger actually helps, where it struggles, and how to test it against your own data. We’ll look at:

• The core features that matter for digital assets (not just sales deck bullets)


• Pricing patterns and what typically drives your quote


• How crypto workflows behave in practice: API vs CSV, gains/losses, consolidations


• A simple yes/no decision framework and the exact questions to ask the sales team

Who this guide is for

• Founders and controllers who need faster, cleaner closes across multiple entities


• Crypto-native finance teams dealing with day trading volume, staking, or complex wallets/exchanges


• Ops leaders moving beyond QuickBooks/Xero who want consolidation and real audit trails—without a full-blown legacy ERP

What you’ll learn in minutes

• What SoftLedger is (and isn’t)


• What it tends to cost and how pricing scales with entities/users/volume


• Which crypto-specific features to stress test before you buy


• What implementation really looks like—APIs, CSV mapping, and month-end realities


• How it stacks up against dedicated crypto accounting/tax tools


• Fast answers to the most common questions in a mini FAQ

My quick take (teaser)

SoftLedger is a modern, API-first accounting platform that puts a real general ledger, consolidations, and digital asset tracking under one roof. If you’re wrestling with multi-entity reporting and want fewer breakpoints between tools, it’s worth a serious look. If you only need tax calculations from wallet/exchange data, a specialized tax tool may be simpler and cheaper.

Curious whether it’s the right backbone for your stack—or just another login to manage? In the next section, I’ll show you what SoftLedger actually is, who gets the most value from it, and the core modules that matter for crypto teams. Ready to see how it fits your use case?

SoftLedger at a glance: what it is, who it’s for, and core modules

Think of SoftLedger as a modern accounting backbone that actually respects how crypto-native finance works today—multiple entities, constant FX noise, and the need to see wallet balances alongside payables and revenue in one place.

“What gets measured gets managed.” —Peter Drucker

When you’re closing the books with thousands of on-chain and exchange transactions, that quote hits different. SoftLedger’s pitch is simple: a clean general ledger with real-time reporting, multi-entity consolidation, and a built-in digital asset workflow—without dragging you into a heavyweight ERP.

What is SoftLedger?

SoftLedger is a cloud accounting platform centered on a true general ledger and supported by subledgers (AP, AR, Inventory) plus reporting. It’s positioned as an API-friendly alternative to legacy ERPs, so finance teams can automate data flows instead of babysitting spreadsheets.

• General Ledger: Journals, multi-currency, and financial statements built for granular control.


• Subledgers: Accounts Payable and Accounts Receivable to manage vendors, bills, invoices, and collections.


• Inventory: Useful for teams that handle physical goods or token-linked merch alongside digital assets.


• Reporting: Real-time dashboards and customizable financials that roll up across entities.


• Digital Assets: Track balances and movements across wallets/exchanges and keep finance-grade records in the GL.

The draw isn’t just “crypto support”—it’s that these modules live under one roof, so your consolidations and audit trails don’t collapse when volumes spike.

Who should consider it

I reach for SoftLedger when a team is past the “one-entity, one-wallet, one-exchange” phase. If any of this sounds familiar, it’s worth a look:

• Crypto-native startups managing runway in stablecoins across multiple chains, with revenue in fiat and crypto.


• Funds and asset managers running multiple entities (fund, GP, management company) and needing clean intercompany flows and consolidations.


• Exchanges/marketplaces that must reconcile high transaction volume, fees, and custody movement while keeping the GL tight.


• Web3 companies with subsidiaries in different jurisdictions that report in different base currencies.


• Teams outgrowing QuickBooks/Xero who need stronger controls, entity structure, and audit-ready crypto position reporting—without jumping to a full ERP.

Real example: a Web3 studio with a US parent, a European dev shop, and a Cayman entity for token issuance. They report USD at the top, EUR for payroll, hold USDC/ETH across cold and hot wallets, and invoice enterprise partners in USD. SoftLedger’s appeal here is keeping entity-specific base currencies, mapping intercompany entries, and producing a single consolidated view without manual gymnastics.

Company snapshot and traction

SoftLedger launched in 2016. A third-party source, GetLatka, lists an estimated ~$277.3K revenue in 2024 and a ~10-person team. Treat this as directional, not official. Always verify numbers with the vendor—small teams can still punch well above their weight when the product is focused and the API is solid.

Key modules and capabilities

For crypto-heavy finance, these areas are the make-or-break:

• Entity structure: Build an entity tree that mirrors reality (HoldCo, OpCos, SPVs). Set each entity’s base currency and reporting needs.


• Intercompany: Create, track, and eliminate intercompany transactions without messy spreadsheet offsets.


• Multi-currency and FX: Record transactions in source currency and remeasure appropriately. Consolidate at period-end rates for clean topco statements.


• Digital asset workflow: Maintain wallet/exchange balances, book movements, and align realized/unrealized activity with the GL. Keep position reporting finance-grade.


• Reporting and dashboards: Real-time P&L, BS, and cash/treasury visibility across entities, with filters for chain, counterparty, or asset type as needed.

In practice, this looks like: pulling exchange fills and on-chain transfers via API, mapping fees and counterparties, auto-posting journals to the GL, and rolling up entity results for monthly consolidation. No frantic CSV merges at 2 a.m. when audit asks for a trail.

Why this approach works: industry research consistently shows that closing faster with fewer manual touchpoints reduces error rates and audit fatigue. Centralizing GL + crypto positions lowers the reconciliation burden and keeps your month-end closer to “press publish” than “heroics.”

Security and compliance notes

Any accounting system touching digital asset data deserves a risk lens. I’d ask the vendor to address the following in plain language:

• SOC 2 or ISO 27001: Request current attestations. Understand the scope and audit date.


• Data residency: Where is data stored? Any options for EU/UK/US residency to match your compliance needs?


• Role-based access control (RBAC): Least-privilege permissions, SSO/SAML support, and strong MFA.


• Audit logs: Immutable logs for user actions and data changes. Exportable for your auditors.


• Backups and retention: Frequency, encryption at rest/in transit, point-in-time restore, and retention policies.


• API key and wallet credential storage: How are secrets handled? Expect encrypted storage, restricted access, and options like a secrets manager or KMS/Vault approach.


• Separation of duties: Can you enforce maker/checker on sensitive actions like journal posting or integration changes?

On the finance side, you’ll also want clarity on how they handle exchange rate sources, pricing oracles, and any third-party dependencies used for digital asset valuations.

Curious how the numbers pencil out and what implementation actually takes—weeks or months? I’ll break down pricing, contracts, and onboarding next so you can plan with eyes wide open.

Pricing, plans, and onboarding: what to expect

Let’s talk numbers, time, and how to get from “interesting” to “live without breaking the close.” This is the part most teams skip until procurement shows up—and that’s how unwanted surprises creep in.

“Closing the books shouldn’t feel like a fire drill.”

Pricing (what it costs)

SoftLedger’s official pricing page says “Plans starting at $750/month” and it’s customized to your setup. In practice, pricing tends to flex based on:

• Modules: GL, AP/AR, inventory, digital assets, consolidation, reporting


• Entities: each legal entity often adds cost


• Users/roles: finance, auditors, read-only viewers


• Transaction volume: confirm how they define a “transaction” (raw crypto events vs journal lines)

How I model the potential quote (purely as planning—not a guarantee of vendor pricing):

• Lean crypto startup: 1–2 entities, 3–5 users, thousands of crypto transactions/month, AP/AR light. Expect a number close to the entry tier if crypto volume is modest.


• Growing Web3 company: 3–6 entities, 6–12 users, heavier crypto volume, consolidation and AP/AR enabled. Budget for a mid-tier quote.


• Fund/exchange ops: multi-entity, audit requirements, large volume, strict SLAs. Expect a custom tier with volume allowances and support add-ons.

Negotiation tips I use to keep pricing predictable:

• Ask for ramp pricing: lower in year one while you migrate; scale in year two


• Lock volume tiers: define what happens if you exceed transaction or API limits


• Annual prepay incentives: vendors often discount for annual commitments


• Implementation credits: push some services into the subscription if possible


• Audit/read-only users: clarify pricing for view-only access

Contracts, trial, and procurement

Expect a demo-led process and a custom quote. I always request a sandbox or proof of concept with real (but redacted) data. Two weeks is usually enough to pressure-test the basics.

POC structure that consistently surfaces issues early:

• Connect your top two venues via API (e.g., your main exchange + a custodial wallet)


• Backfill at least one heavy month of history (to test rate limits and throttling)


• Upload one CSV from a tricky source as a fallback path


• Produce three outputs: a realized/unrealized report, a GL posting for a 3-day slice, and a consolidated entity view


• Reconcile totals to external statements and spot-check fees, timestamps, and FX

Procurement checklist I keep in my notes:

• Contract length, auto-renewal, and notice periods


• User tiers and overage rules for volumes


• Security packet: SOC 2/ISO attestations, DPA, subprocessors, data residency


• Uptime/SLA: response times, maintenance windows, support hours by region


• Exit plan: data export format, retention, and offboarding help

Implementation and data migration

Time depends on your entity count, crypto activity, and how clean your history is. My simple planning ranges (not vendor commitments):

• Single-entity, straightforward: ~2–4 weeks


• Multi-entity with consolidation: ~6–10 weeks


• High-volume/complex crypto: ~8–12+ weeks with a parallel close

What I run through step by step:

• Discovery: chart of accounts design, entities, base currencies, reporting needs


• Data hygiene: normalize time zones, tag wallets, standardize fee currencies


• Integrations first: API connects for major sources; keep CSVs only where necessary


• COA and mapping: staking income, airdrops, rewards, gas/fees, remeasurement


• Entity + intercompany: eliminations approach, period-end rates, and reclasses


• Tax lot configuration: agree on cost basis method with your tax pro and mirror it


• Parallel run: one to two closes in parallel before you cut over


• Go‑live: lock roles/permissions and document the daily/weekly checklists

CSV gotchas I flag early (if you must use them):

• Timestamp precision: seconds vs milliseconds can throw off fills and PnL


• Fees in a different asset: e.g., fee in BNB while the trade is BTC/USDT


• Duplicate IDs: missing unique trade IDs or tx hashes lead to double‑counting


• Rounding: tiny decimal truncation can stack into big discrepancies

Support, SLAs, and training

Ask exactly who you’ll message when something breaks on day three of your close. At higher tiers, push for a named CSM and structured onboarding.

• Channels: email, chat, ticketing—weekend coverage if you close then


• Response goals: define P1, P2, P3 with concrete targets


• Onboarding package: hours included, data validation checklists, hands-on sessions


• Training: admin vs end‑user training, recordings, and an internal playbook you can reuse for new hires


• Change control: who approves COA changes, new entities, and permissions

Integrations and extensibility

Make a list of your exchanges, wallets, banks, and apps. Then verify coverage, API docs, and the backfill depth for each source. If a connector is missing, confirm CSV format and iPaaS options (Zapier/Make/Workato) for stopgaps.

My “trust but verify” API test:

• Can it backfill at least 12–24 months without manual throttling?


• Are fees, counterparty, and network costs captured as separate fields?


• Does it tag wallets and label internal transfers to avoid PnL noise?


• Is the process idempotent (no dupes if you re‑run a sync)?


• How are retries, rate limits, and webhooks handled?

CSV fallback template I keep handy for crypto rows:

• timestamp, tx_type, asset, quantity, unit_price, base_currency, fx_rate, fee, fee_asset, counterparty, wallet_label, tx_hash/trade_id, notes

One more thing—pricing blips and onboarding friction usually show up where you least expect them: in the gaps between API fields and your GL posting logic. Want to see exactly how to structure digital asset workflows so those gaps don’t blow up your month-end?

Using SoftLedger for crypto: workflows, reports, and gotchas

Digital asset tracking and reporting

Crypto moves fast, your books can’t. The whole point of using SoftLedger here is simple: every wallet, every exchange, every token, fully tracked with finance-grade outputs you can actually defend.

Here’s how I set it up for real-world sanity:

• Map your universe: Create entities, then attach wallets and exchange accounts to each one. Tag “hot,” “cold,” and “custody” so you can filter operational vs treasury balances.


• Turn on transfer detection: An internal transfer (hot → cold) should not look like income. I test this with a tiny move (e.g., 0.01 BTC) and verify the system links the outgoing and incoming legs without creating a phantom gain.


• Book realized vs unrealized: Sells and spends hit realized P&L; end-of-period remeasurement shows unrealized gains/losses. If you report under US GAAP, note that the FASB’s ASU 2023‑08 moves many crypto assets to fair value with changes in net income (effective for fiscal years beginning after Dec 15, 2024; early adoption permitted). Make sure your reporting layout matches your policy.


• Cost basis policy: Ask the vendor to confirm supported methods (FIFO, LIFO, Specific ID). Then stress test with a simple lot stack:
  
  
  
  • Buy 1 BTC @ $30,000
  
  
  • Buy 0.5 BTC @ $35,000
  
  
  • Sell 0.6 BTC @ $40,000
  
  
  
  I check that the realized gain under your chosen method matches my spreadsheet reconciliation to the dollar—and that fees are handled consistently.


• Close-ready reports: You want period-end holdings (by entity), realized P&L, unrealized P&L, fees by venue, and a lot-level rollforward. If one report is missing, you’ll feel it at audit time.

“In crypto accounting, the gap between ‘I think’ and ‘I can prove’ is an audit.”

Data import: API vs CSV

I always push APIs first. They’re faster, cleaner, and less error-prone. CSV is a safety net, not a lifestyle.

• APIs when possible: They usually pull trades, deposits/withdrawals, and fees with higher fidelity. Rate limits are real—see Coinbase’s and Binance’s published limits—so schedule syncs smartly and watch for timeouts.


• Historical depth: Some venues won’t give you “all time” via API. For older history, plan a one-time CSV backfill and then let the API keep you current.


• Timezone sanity: Enforce UTC on import. I’ve seen the same trade show up on two different days in two different systems because one source used local time.


• Fees and counterparties: Make sure maker/taker fees and counterparty fields map correctly. If a CSV template lacks fees, it will inflate gains. I run a 20‑trade sample and reconcile fee totals to the exchange’s native report.


• Dupes and reversals: Retries happen. Confirm SoftLedger dedupes on tx hash + timestamp + amount, and that it can handle canceled orders cleanly.

Multi-entity and consolidation with crypto

Multi-entity is where a GL earns its keep. Crypto adds FX and intercompany wrinkles most tools fumble.

• Base currencies per entity: Set USD for the US HoldCo, EUR for the EU trading sub, etc. Crypto is remeasured to each entity’s functional currency per period end.


• Intercompany mechanics: If Entity A sends 5 ETH to Entity B, I want:
  
  
  
  • Elimination of the transfer on consolidation (no fake revenue/expense)
  
  
  • Due to/Due from balances posted automatically at the agreed transfer price
  
  
  • Clear lot tracking so B’s basis picks up correctly
  
  
  
  


• Consolidation and FX: Under ASC 830/IAS 21, crypto held by a EUR entity gets remeasured to EUR, then translated to the reporting currency. Test with a tiny example:
  
  
  
  • Sub (EUR) holds 2 BTC. Local books remeasure to EUR at month-end close.
  
  
  • Parent consolidates in USD using the period-end BTCUSD rate.
  
  
  • Check that unrealized hits the right line and that the CTA/remeasurement math ties out.
  
  
  
  


• Disclosure support: If you’re adopting the new fair value standard (US), verify you can tag period-end fair values, cost basis, and realized/unrealized presentation the way your auditor expects. A quick alignment call saves weeks later.

Pro tip: I keep a “mini consolidation” workbook for one month with five transactions across two entities. I expect SoftLedger to match it exactly. If it doesn’t, I fix mapping and try again before importing the firehose.

Tax prep handoff

When it’s time to hand data to your tax tool or CPA, structure beats heroics. I export two layers: summarized ledgers for the books and a raw transaction file with every breadcrumb.

• Map taxable categories: Staking income, airdrops, mining, LP rewards, token grants, gifts, and payments to vendors. Label them consistently at import so tax lots form properly.


• Attach evidence: Wallet addresses, tx hashes, timestamps (UTC), asset, quantity, fiat value, fee, cost basis lot ID, and rate source. This turns “trust me” into proof.


• Valuation source policy: Decide on your primary price source (exchange last, VWAP, or an oracle) and stick with it. Document exceptions for illiquid tokens.


• Audit trail: Keep a read-only export of the exact dataset you used to file. The AICPA’s digital asset practice aid emphasizes documentation and controls; it pays off when questions come months later. See the AICPA’s resource page: Accounting for and Auditing of Digital Assets.

Limitations to check upfront

Every system has edges. Find them before they find you.

• DeFi complexity: LP tokens, AMM fee income, yield vaults, and liquid staking (e.g., stETH) can behave like a mix of inventory, income, and derivatives. Run a pilot on your messiest pool first.


• NFTs and royalties: Confirm which chains/markets are supported and how floor value vs cost is handled. Test a mint, a sale, and a transfer to cold storage.


• Bridges and wraps: Bridging and wrapping/unwrapping often break naive importers. You want clean mapping for WETH, wBTC, and L2 representations.


• Chain coverage: Ask for the current list of supported chains, L2s, and exchanges. If it’s not native, can you import via CSV with the fields you need?


• Performance at volume: Day-trading months with 100k+ fills can choke parsers. Use an API pilot on your heaviest month and time it end‑to‑end.


• Rounding and pennies: Crypto quantity precision (8+ decimals) meets fiat rounding. I run a “penny test” to ensure rounding differences don’t snowball in consolidated reports.

Here’s the quick test kit I use before any full migration:

• 10 transfers (internal, cross-entity, and to cold)


• 20 trades across two venues with maker/taker fees


• 1 staking income month with compounding


• 1 DeFi LP add/remove with rewards


• 1 NFT mint/sale


• 1 bridge and 1 wrap/unwrap

If all of that reconciles without hacks, I’m confident to scale.

One last thing: speed matters, but control wins. “Fast” ingestion that creates silent misclassifications will cost you more in cleanup and taxes than it saves at close.

Now, if you’re asking, “Should I run crypto inside a full GL like this, or stick with a specialist crypto tracker and keep my existing accounting system?”—that’s exactly what I’m unpacking next, including the one scenario where I would not pick a GL-first approach. Ready to see how it stacks up against dedicated crypto accounting tools and the tax gotchas most teams miss?

SoftLedger vs alternatives, plus must-know crypto tax pointers

Where SoftLedger fits vs dedicated crypto accounting tools

I get this question a lot: “Should I use a crypto tax app or a real accounting system that supports crypto?” Here’s the practical split I see across teams I talk to:

• SoftLedger is a full accounting system (GL, AP/AR, consolidations) with crypto tracking built in. It’s for finance teams that need controls, approvals, multi-entity logic, eliminations, audit trails, and period-close workflows—with digital assets living alongside fiat, inventory, and everything else.


• Dedicated crypto tools (think Koinly, CoinLedger, TokenTax, CryptoTaxCalculator) excel at ingesting wallets/exchanges and producing tax outputs like Form 8949 or local equivalents. They’re lighter, cheaper, and often faster to get up and running for tax-only needs.


• Crypto subledgers for enterprises (e.g., Bitwave, Cryptio, Ledgible for Business) typically feed data to ERPs like NetSuite/Sage Intacct. This is great if you’re already deep in an ERP and want crypto detail pushed in as journals.

In plain English: if you only need tax calculations and basic PnL, a specialist tool is usually simpler. If you need a controlled finance backbone with real consolidations (and you don’t want to bolt crypto onto a small-business GL), SoftLedger makes sense.

Two real-world patterns I see:

• Small fund or trader: 1 entity, a few wallets, several exchanges, seasonal filing pressure. A crypto tax app with direct API connections gets you to a compliant return fast. Push summary journals to QuickBooks/Xero if you want basic books.


• Multi-entity Web3 company: 4+ entities, intercompany flows (tokens, services, IP), fiat AP/AR, multiple base currencies, and crypto operations. SoftLedger can be the source of truth for entity structure, approvals, and consolidation while tracking digital assets at book quality.

Must-know crypto tax pointers (quick and practical)

I’m not your tax advisor, but I’ve reviewed enough crypto stacks to know where teams stub their toes. Here’s the short list to sanity-check with your CPA:

• Taxable events: trades, swaps, selling/spending crypto, converting to fiat, receiving staking/airdrop/reward income. Self-transfers are typically not taxable but still need clean, labeled audit trails.


• Cost basis: confirm which methods your jurisdiction allows and what your tool supports (FIFO, LIFO, Specific ID, Average Cost). Specific ID needs defensible lot selection and timestamps.


• Holding period and character: short-term vs long-term rules vary by country. In the US, character affects rates; in the UK, share pooling rules apply; in Canada, ACB drives basis; in Australia, CGT and possible discounts may apply. Your software should label these correctly.


• Wash sales (US): as of today, wash sale rules don’t explicitly apply to crypto. Lawmakers have floated changes—stay current and document positions as if you’ll be asked to defend them.


• Fees and gas: capture them as part of basis or expense depending on context. Missing fees corrupts PnL fast.


• Oracles and FX: lock in a consistent source for FX rates and FMV. Inconsistency creates audit friction. Good platforms note the rate source and timestamp.


• DeFi/NFTs/derivatives: complexity explodes with LP tokens, perpetuals, and bridging. If your tool can’t fully parse a chain, you’ll need manual classifications or a specialist.


• Multi-entity: intercompany token transfers and services need elimination entries and period-end remeasurement. Don’t wait until audit week to figure out how your software handles this.

Example I see often: you buy 2 BTC at $30k and 1 BTC at $40k. You sell 1 BTC at $50k. Under FIFO, realized gain is $20k. Under Specific ID (selling the $40k lot), gain is $10k. Your method choice, and your software’s lot selection, materially changes your taxes. This is why I push for tools with strong lot tracking and an audit trail.

When I’d pick SoftLedger

These are the triggers that push me toward SoftLedger for teams I advise:

• Multiple entities with shared wallets, intercompany flows, and cross-border base currencies that must consolidate cleanly.


• AP/AR and approvals matter to you. You want roles, audit logs, and structured close checklists—not just a tax report at year-end.


• You’ve outgrown spreadsheets + QuickBooks/Xero, but you don’t want the overhead of a big ERP. You still need API-first crypto support inside the GL, not duct tape.


• You value one system of record for fiat and crypto so your board reports, cash flow, and consolidations live in one place.

On the flipside, I wouldn’t force SoftLedger for a solo trader who needs a quick annual tax file and nothing else. A specialized tax app with good APIs will be cheaper and faster to deploy—then post summarized journals to your small-business GL if you care about monthly books.

Helpful resources for crypto taxes (from Cryptolinks)

I’ve written a complete, plain-English guide on crypto tax software—what it is, API vs CSV tradeoffs, pricing tiers by transaction volume, and how to judge credibility and integration depth. Here’s a taste:

“Few things are as important as taxes to crypto practitioners... one must go all out to ensure that crypto activities and transactions are correctly logged to reconcile profits and losses, as directed by the crypto tax laws governing your location.”

In that guide, I break down:

• Two classes of tools: traditional tax software that bolted on crypto vs crypto-native platforms built for wallets, exchanges, and DeFi.


• Integration reality: why APIs beat CSV for accuracy, and what to test (time zones, fees, counterparty fields, throttling).


• Throughput and limits: how high-volume trading can stress tools, what “unofficial” limits look like, and how to run a stress pilot.


• Buying factors: jurisdiction support, vendor credibility, integration coverage, bandwidth, fees, team background, UX, support, and extras like portfolio tracking or CPA file-sharing.

You can read the full resource here: Cryptolinks.com/news. It includes the exact questions I ask vendors and the red flags I watch for when tools claim “full DeFi support.”

How I evaluate tools at Cryptolinks

I keep a consistent yardstick when I review crypto finance and tax software so my shortlists are objective:

• Jurisdiction fit and tax output coverage (US 8949/Schedule D, UK pooling, AU CGT, CA ACB, EU VAT/GST angles).


• Integration depth: exchanges, major chains, wallets, banks, and whether API metadata captures fees, IDs, and timestamps reliably.


• Processing bandwidth: can it handle your noisiest month without timing out? I test with “worst month” data, not a clean demo CSV.


• Pricing fairness: transparent tiers by transaction volume, no sneaky overages, and a path that won’t double your costs mid-year.


• Vendor credibility: team background in accounting/tax, security posture, references, and real customer proof—not just marketing.


• UI/UX and controls: role-based access, audit logs, approvals, clear error handling, and reclassification flows that don’t require a PhD.


• Real crypto coverage: how it handles DeFi/NFTs/derivatives in practice, not just on a features page.

If you want the specific RFP questions I send during evaluations, I keep them updated here: Cryptolinks.com/news.

Quick gut check before you book demos:

• Only need tax filings and a gains/losses report? Start with a crypto tax specialist and push summarized journals to your GL.


• Need real consolidations, AP/AR, and a single source of truth for fiat + crypto? Shortlist SoftLedger.


• Already on an ERP like NetSuite? Consider crypto subledgers that push into it—or test whether SoftLedger would simplify your stack.

Still unsure which way to go—or how to sanity-check costs and support? In the next part I’ll answer the most common questions I get from finance leaders so you can pressure-test your shortlist. What’s the one question you wish vendors would answer honestly during the demo?

FAQ and wrap‑up

How much does SoftLedger cost?

Plans are listed as starting at $750/month and are customized to your setup. In practice, pricing flexes by modules, number of entities, users, and transaction volume.

Pro tip: ask for a quote tied to a small pilot. Share your peak month of transactions, entity structure, and any crypto‑specific needs (e.g., consolidation, cost basis, staking). That keeps surprises off the table.

What do you mean by accounting software?

It’s the system that records and reports your financial transactions—think general ledger, accounts payable/receivable, and reporting—so you can close the books, track performance, and stay compliant.

What is the revenue of SoftLedger?

Third‑party site GetLatka reports ~$277.3K revenue in 2024 with a 10‑person team. Treat this as directional; for official figures, ask the company directly.

Does SoftLedger replace crypto tax software or a CPA?

No. It can centralize your crypto transactions and produce finance‑grade reports, but you’ll still want a crypto tax tool and/or a tax professional to finalize filings and validate elections (e.g., cost basis), disclosures, and local rules.

Real example: staking income classification, cost basis on complex token migrations, and wash sales across venues are areas where a CPA’s sign‑off is worth its weight in gold. The IRS also keeps tightening guidance on digital assets, so having a pro is smart.

Which exchanges and wallets does it support?

Coverage changes. Always ask for the current integrations list and test your top venues via API. If something’s missing, check the CSV templates and mapping options.

• Quick test plan: connect your highest‑volume exchange, a custody solution, and one on‑chain wallet; import the past 60–90 days; verify fees, time zones, counterparty addresses, and cost basis outputs against a trusted source.


• If API isn’t available, run a CSV import and reconcile a small sample (e.g., 50 trades + a few transfers) to catch mapping mismatches early.

Can it handle high‑volume day trading?

It depends on your scale, mix of venues, and how you ingest. API is usually cleaner and faster than CSV, especially for >100k transactions.

• Stress test idea: take your heaviest month (fills + transfers + fees), ingest via API, and time the end‑to‑end import. Check for throttling, duplicate handling, and whether realized/unrealized P&L ties to your broker exports.


• For ongoing use, ask about incremental syncs, retry logic, and whether large backfills run in the background so your team can keep working.

Is there a free plan?

No public free plan is advertised. Expect a demo‑led process and a custom quote aligned to your entities, users, and volume.

What about security and compliance?

Ask for SOC 2 or ISO attestations, encryption details, role‑based permissions, audit logs, backup/restore policies, and how API keys are stored (e.g., HSM or KMS, key rotation, scoping).

• Request SOC 2 Type II (controls tested over time), SSO/SAML, MFA, IP allowlisting, and data residency options if you need them.


• Security 101 still matters: Verizon’s long‑running DBIR shows most breaches involve the human element. Least‑privilege, segregation of duties, and audit logs are non‑negotiable for finance teams.


• If auditors are involved, point them to the AICPA Trust Services Criteria to frame your requests.

Conclusion

If you need a real accounting backbone with multi‑entity consolidations and crypto coverage in one place, SoftLedger is worth serious consideration. Bring your own data, validate integrations with a pilot, and get your price in writing. Keep a tax pro in the loop to nail filings and elections. If your only need is tax calculations from exchanges and wallets, a dedicated crypto tax tool may be simpler—and cheaper.

Next step: line up a 30‑minute test with your noisiest data. If it passes the reconciliation sniff test, you’ve probably found your shortlist.