Milestone: Cryptio Launches QuickBooks Integration

QuickBooks is the most popular accounting management software for small to medium businesses world-wide.

7M+ businesses can now seamlessy account for their (future) digital asset activity.

COVID-19 Has Accelerated Crypto Adoption

Since March 2020, the volume of On-chain Stablecoins has multiplied by 6. The combined value of Stable-coins has peaked at $16bn (sum of all Stable-coins market-cap) and continues to grow.  One reason for this boom is positively correlated to the Decentralized Finance markets which are growing at a rapid rate!

At the start of the year Defi users had locked in $690mln, by September 26th to the total amount of assets locked in Defi peaked at 10bn – and we are still at the start.

Further technological improvements to global financial are being implemented. The evolution of central bank-issued currencies is almost at a tipping point where 80% of central banks are currently working on CBDC use cases. 

The crypto world and the traditional world is still at the very start of its convergence. 

So What?

Our mission at cryptio is to build the accounting bridge between these two worlds by making accounting for digital assets manageable, and that’s why we are incredibly excited to announce our second integration into a world-leading accounting software provider QuickBooks.

With 60% market share and around 7 million users as of 2020, the QuickBooks integration will allow all users of QuickBooks sync their account with cryptio import their Chart of Accounts and start pushing full transaction data in the form of journal entries automatically from their sub-ledger in Cryptio to their main ledger in QuickBooks within a matter of seconds!

Through the relationships and research with our current Crypto native clients, we have discovered the importance of being able to account for certain wallet and or tokens as Bank Accounts.

Therefore we are also proud to announce another new feature that allows users to generate Bank Statement reports in Cryptio for wallet address they use as Bank Accounts – this feature works perfectly with QuickBooks where you are able to import and create manual Bank Accounts. (See the link below)

The video below is a walkthrough of the process to sync QuickBooks with Cryptio, import the relevant accounts from your QuickBooks Chart of Accounts and how to push and reconcile journal entries in QuickBooks.

We believe that by creating a bridge between traditional accounting systems like QuickBooks and Xero we can facilitate a fundamental component to drive rapid adoption of crypto assets. 

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