Bitcoin Forum

Just wondering what most Bitcoin based businesses/business owners use for their accounting software. Are there any programs out there that have Bitcoin as a currency option? Or do you use a regular accounting program (like Quickbooks) and record the value of your Bitcoin in your local currency?

(sorry if this is posted in the wrong area)

you can try using Google Docs to keep track of bitcoin now, before I was just using python to calculate desired information via restapi calls. i also wrote a currency monitor in c# for windows machines that dealt with holding various alt addresses/shell commands to launch miners.

on google docs you can just use: = GoogleFinance("CURRENCY:BTCUSD","bid")

that will populate a cell in google docs with the current coinbase bid value, you can then formulate other equations using this specific cell to determine profit/losses. then you just need to auto sum a few columns etc. I find this easier right now compared to updating applications and scripts due to moving api's.

edit: spelling

If the business uses coinbase and cashes out instantly then there would be no additional accounting but rather can just treat sales the same way as if the sales were done in fiat.

Open office excel will do fine for most transactions book keeping.

most businesses need much more advanced software the excel for record keeping as there are a number of accounts that need to be kept track of.

Any accounting software, which aloud you to enter a custom currency into the currency list.

That is what I was going to say. Any accounting software which can handle multi currency AND can generate reports in multi currency. For example, report balances in bank accounts with a breakdown of different currencies and not one total balance in local currency.

If you use bitpay for processing your bitcoin transactions, they have a guide on how to import your btc sales
https://bitpay.com/quickbooks-bitcoin-import

Consider using https://www.blockonomics.co

You can track multiple BTC address, see history and export transactions for further analysis

quickbooks online.

I can't imagine any accounting software being BTC compliant, as all include tax which aren't relevant to BTC. As a small business owner (not BTC-related), I don't use any special software. I created my own spreadsheets on Openoffice (which is free) and that's fine.

As such i know it their is no software still with bitcoin transaction, as most of the countrys are still not considering bitcoin income as legal. so who ever is keeping record will be in office excell sheet or manually in any of the format which will be suitable to them.

I am not keeping any record because in my country i cannot show profit from bitcoin , so i show as short term profit like fiat currency transaction.

Services such as BitPay or Coinbase have effectively made it easy to accept bitcoin in a business, why do you need to use bookkeeping software to do that? Pay some fees and

have them deal with that. You just manage the fiat part, when it's done. Once Bitcoin gains wider acceptance, we will see these accounting systems develop Bitcoin plugin's for

their commercial software.  ;)

Exactly. If you want your business to accept bitcoin, bitpay is the way to go. You don't need an accounting software.

you can check out gnucash one of the best free accounting software

The people I have seen using the service are always busy with Excel/Google docs in most of the cases.Since you've mentioned a Special Software.I'm thinking of programming my own now. :).It could come in handy handling your bitcoin transactions .

Oh its really a nice one, this gnucash free accounting softwaren is a good one. now a days people are getting lots of software in Google to handle the transactions to account their Bitcoins Business.