The Resolution Center workflow in ZenLedger helps you to identify missing wallets and exchanges, and helps you resolve probable self-transfers.
For a video walkthrough, please see below:
How to Use the Resolution Center Popups
To complete your reports, you'll be guided to finish importing your transactions, categorizing any that aren't automatically reconciled, and reconciling self-transfers. To receive accurate tax reports, you must import all of your wallets or exchanges. The Resolution Center workflow helps you get everything imported.
You will be presented with a series of screens that will help you reconcile missing incoming and outgoing transactions.
The first popup reveals what transactions have yet to be reconciled. There are three choices that can be made.
Import More Transactions: Click this button to go back to the Wallets/Import page to import more transactions. You will do this until you are finished importing all exchanges and wallets that you have used in cryptocurrency trading.
Mark Transaction Sources: This option allows you to mark transactions as gifts, payments, interest/dividends, or ICO (incoming), lost or stolen (outgoing), or other transaction types.
Continue without Reconciliation: This allows you to continue through the system to look at your reports. This should not be used unless you are certain you have imported all exchanges and wallets that you know about. If you've become stuck in the Resolution Center, you can always click on "Import More Transactions" to go back.
To expand the currently imported sources to see what coins do not have their sources, you can click the down arrow to the right of the source. You will get this popup first for missing OUTGOING transactions (in which we have the incoming transaction but can't see where it came from), and then for missing INCOMING transactions (in which we have the outgoing transaction, but can't see where it went.)
In this example, BTC, ETH, and LTC were transferred into the Celsius Network Wallet, but I haven't imported the Bittrex exchange where they were purchased. Seeing the coins and amounts helps me remember what I haven't imported yet.
In this screen, I can categorize sources that have been sent or recieved that are not self-transfers, trades, buys, or sells. In this case, I am marking this BTC as a gift received from a friend to categorize it correctly.
- As of 7/1/2020, you may get this workflow even if all other issues are resolved if you have trades that were handled by Coinswitch, Changelly, Uniswap, or Shapeshift where you sent coins from a wallet to an address and recieved different coins back into a wallet. It is safe to click "Continue without Reconciliation" to move on. An improvement to this feature will be coming shortly.
- VEN/VET swap will appear here. If you've resolved all other issues, it is safe to click "Continue without Reconciliation" to move on as VEN/VET swap is correctly handled if you have the outgoing VEN and incoming VET imported into your account. An improvement to this feature will be coming shortly.
- Staking rewards should be categorized as Dividend Received to disappear from this workflow and properly show up on the Schedule 1. We currently categorize most of these automatically on import, but if you used us previously and did not categorize these, you'll need to do it here.
- Forks and airdrops that have not been previously marked can be marked in this step.
- Marking as Self-Transfer creates a new manual transaction. It is best to first review your sources to make sure that the transaction you need to match with isn't already there, but just has some type of issue like bad datestamps (more than 12 hours apart, or wrong timezone, or incoming after outgoing).
See this article for more about troubleshooting self-transfers, and more on this in the next section.
ZenLedger automatically reconciles most self-transfers. However, sometimes datestamps are not quite right, or one exchange reports more decimal places than another. When the system detects a possible self-transfer, it will prompt you to verify if the transactions are transfers between wallets and exchanges that you own.
-If they are not self-transfers, you can skip through this step. You can also skip the Self-Transfer reconciliation by clicking "Continue without Reconciliation", but this is not recommended as the self-transfer wizard will make sure that you don't have unnecessary taxable transactions.
-If they are indeed self-transfers, you can toggle the switch to the right of the self-transfer to mark it. This will create a self-transfer between the two transactions, and take these out of your taxable coin movements.
Use the sliding button under Confirm Self Transfer to confirm, or click Continue to go on if the self-transfer is not accurate.
When there are no external transfers and you have uploaded/connected all transaction sources, you will see the following page. You can review all of your transactions and then proceed to run your reports by pressing Continue, or click Previous to go back to import more transactions.
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