Import your Bitcoin Sales into Quickbooks

Supported "home currencies": USD, EUR, CAD
In Quickbooks, you do not need multi-currency enabled if your home currency is USD, EUR, or CAD, and you are taking 100% settlement from BitPay in that same home currency.

First, create 3 new Accounts in your Chart of Accounts. Income and Expense accounts can only be denominated in your home currency. (if your home currency is not USD, replace USD below with your home currency)

Type Income
Account Name BitPay Sales USD
Tax-line Mapping Income: Gross Receipts or Sales

Type Expense
Account Name BitPay Fees USD
Tax-line Mapping COGS: Other Costs

Type Bank
Account Name BitPay AR USD
Tax-line Mapping B/S Assets: Accts Rec

Your Bank Account should already be in Quickbooks. BitPay’s ACH/EFT transfer will be transferred to “My Bank” which you can change in the General Ledger transaction after import. Your Quickbooks Chart of Accounts should have these entries:

 

Address

Phone

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