Coordinated Universal Time (UTC) is a time standard for everyone on the planet to understand the clock and time. The timezone/timestamp for every transaction must be on UTC (Coordinated Universal Time). Because many exchanges use UTC time, our system will automatically adjust every transaction to that time.
Your time zone may be particularly important at the beginning and end of the year. If you conducted trades on December 31st to harvest tax losses, but our system shows them as occurring on January 1st due to time zone effects, you should update your time settings from UTC to local time.
Step-by-Step Instructions to change your Timezone to UTC:
Step 1: In your ZenLedger account, click on the gear icon in the upper right corner of the navigation bar and select Settings.
Step 2: Now, click on Tax Settings from the left menu bar, and then select Universal Time Co-ordinate (UTC) from the Timezone dropdown menu.
NOTE: It is advised to re-run a tax calculation once you change your TimeZone.
Check out our Tax Calculation Article for steps on how to do so.