Ethereum integration request

blockpath · 2023-06-13T09:21:30+00:00

Hey, I appreciate the request. I've been considering adding Ethereum support for a few years, but so far have not because of the difficulties of incorporating their chain into our system.

A large reason that makes it difficult are the ERC-20 transactions, that can greatly complicate any accounting that we would have to do. We could start with simple ETH transfers, but eventually the accounting logic would have to expand to support USDT and the thousands of other coins, and trying to fit that into QuickBooks' very rigid structure would be very difficult. We already had to make several awkward compromises when getting Bitcoin's transactions to fit into QuickBooks' system...

Every time I start to work on ETH, it looks like at least 6 months of work, and so far I don't believe there is enough of a user demand to make it worthwhile.

Finally, I believe in the long run only one chain will be dominantly used, and at the moment I'm betting it will be Bitcoin. If that changes I will get to work on an ETH sync.

If any other users want to voice their opinion in favor of an Ethereum sync, please let me know.

-Matt

blockpath · 2022-08-31T18:44:42+00:00

Hello,

Currently our software can only import transactions from on-chain transactions. However, with the rise of off-chain transactions (Lightning Network), we are investigating allowing importing of an excel sheet of transactions into QuickBooks.

The transaction types we use are Sales Receipt OR Invoice+Payment for incoming transactions, and Journal Entry for outgoing payments (since we automatically calculate capital gains within QuickBooks for you!).

When developing the service we looked into using Bitcoin as an inventory stock item, but there were many issues with it that I don't recall now. We use Bitcoin as a foreign currency using the multicurrency abilities of QuickBooks.

blockpath · 2021-07-15T09:50:26+00:00

Hey hey!

blockpath[A]

TROPHY CASE