Best way to correct balances?

Describe the problem:
All the balances in the dashboard are completely wrong. Mostly way too big.

Which exchange/wallet is this regarding?
Binance, Kraken, metamask

How did you import data into this wallet?

What have you tried to fix this so far?
Gone through transactions and tried to look for mistakes.

What’s my best way of action? Deleting everything and restarting with a new account? Is it possible to manually change the balances in the dashboard?

Hello @affagaag

Yes, you can make changes for the balances to align.

There are two balance displays in Koinly: the reported balance and the calculated balance.

Your reports will always use the calculated balance, as that is what has been synced/imported.

You can toggle between these views, to understand which balances are inaccurate. For example, if the API is reporting that you hold 1BTC, but the calculated balance is 5BTC, there is missing data relating to that withdrawal of 4BTC. Since the API is not reporting this data, you can add it manually so the balances align. You can either do this by inputting manual transactions, or by importing a CSV file that contains the missing data.

Please check out the help articles below to understand how to correct this , and if you have any further questions, please reach out to the support team at [email protected] :+1:

Why do coins that are on bid, but have not been sold included in the reported balance in the first place?

They haven’t left a person’s custody until they are actually sold. Only then should they become part of the reported OR calculated balances. Fwiw, Koinly isn’t the only tracking app that has (or is still) making this error.

If it’s on bid it’s not sold. It should still be part of the total balance until it is sold.

@Joe_H I believe this has more to do with the information the API provides Koinly. It’s likely that the API is not reporting that balance and has set it aside.