How to handle new tax year for returning customer

Site Feedback
#1

This is not really site feedback, but a question regarding Koinly usage, but I can’t find an appropriate category to post to.

I used Koinly to prepare my crypto capital gains/losses statement last year. After importing 1000+ transactions from multiple exchanges and wallets, I spent untold hours reconciling individual transactions (which, despite the excellent software, Koinly can’t make perfect sense of across all the protocols and possible transactions).

Now, as I am trying to prepare the same for the current tax year - I am confused. I thought I’d be able to import transactions just for this tax year (right after the last tax year ended, so that nothing is missed) and assumed Koinly would append the new transactions to what I prepared last year. But it appears I’ll have to import the entire history instead. I am worried that this means I’ll have to reconcile the entire thing again - which will be an absolute nightmare, requiring me to redo everything I did last year - and in exactly the same way (almost impossible).

Please advise - how should I go about this?

#2

Hey!

As a returning user, all your previous data will be left untouched. All you need to do is update the wallets.

If you used an API key, it’s likely that this has now expired so you will need to create new keys for each exchange you used, and then update this in the wallet settings.

If you used CSV files, you just need to import a new set of data into the existing wallet. When importing files, check the date of the most recent transaction in the Koinly wallet and select your file date range accordingly when downloading.

Your previous amendments will not be overwritten unless you actually delete the whole wallet and recreate it, which you should not need to do.

Note, Koinly does not auto-sync your wallets without the Daily Sync addon, You will need to sync your wallets each time to bring in new transactions.

I hope that helps!