Demo video:
https://youtu.be/caMJjZJOtME
Overview:
CryptoTax Calculator's Batch Processing feature is designed to streamline the management of large transaction volumes, particularly useful for accounts with over 1 million transactions.
This feature allows you to create smaller batches (up to 100k) that can be worked on without processing the entire transaction volume, ensuring optimal performance of the app.
Getting Started:
Enabling Batch Processing:
Once your account goes above 1 million transactions and you navigate to the 'Transactions' page, you will be show the Batch Mode Activated popup.
Before adding the batch periods by clicking the Start Reconciling button, we recommend that you import all transactions first, as importing older transactions after you have already started will require you to unlock any batches you have created.
Once you have imported all of your data you can return to the Transactions page where you will see the same popup as before. This time you will click the Start Reconciling button to be taken to the area where you can create the batch periods.
Note: As this feature is still in it's beta phase, you may need to reach out to our support team to have it activated on your account. If it's already activated you can start creating batch periods right away. See the next steps on how to do this:
Creating a Lock Period for Batch Processing:
Set Up a Lock Period:
Once you have clicked the Start Reconciling button you will be shown a timeline at the top of the Transactions Page and an Activate next batch button.
Click the Activate next batch button and the app will automatically select the first batch of transactions for you.
We will choose the largest batch possible (Around 100k) starting from the first transaction in your history, although you can move the right side of the slider to the left if you want to create a smaller batch period.
You may choose to do this if you want your batches end at the end of the month or week etc.
Once you have chosen the batch you're happy with, click Activate Batch. This will then create that batch period and only load in those transactions.
Reconciling that batch and creating a new batch.
Once the batch has been created you will be able to reconcile those transactions before locking the period and moving on to the next batch.
To lock the current batch period and create the next batch, you will need to click on the Activate next batch button.
Then the app will automatically populate the next batch using the largest size possible again (around 100k). As before, you will be able to manually adjust the slider if you require smaller batch sizes.
Once happy with the next batch size click Activate Batch and the app will refresh, loading in the new batches transactions while locking the previous batch period.
As the previous period is now locked, you won't be able to edit or import transactions that are in that period. In the next section I will explain what to do if you do need to go back into an already locked period to make edits.
Repeat these steps from 2a until you have reconciled the entire account.
Note: Transactions in locked periods will still be visible on the Transactions page, but they will show a lock icon next to them indicating that they aren't able to be edited. If you do need to make edits to these transactions please see the next secton
What to do if you need to edit or add new transactions in an already locked batch?
If you realise that you need to edit or add new transactions into a batch period that has already been locked you will need to first unlock the period before this is possible. To do this follow the below steps:
Find the period which the transaction you are looking to edit or import into exists.
click on the lock icon for that period in the batch period timeline.
You will then be shown a popup explaining the implications of unlocking a period.
If you're happy to proceed click the three check boxes and press Unlock Period.
This will unlock that period making in the current active period.
You can then make and edits you need to or import new transactions.
Understanding Transaction Display:
The number of transactions displayed on the main page may differ from the number of transactions shown in the Locked Periods section. This discrepancy arises because transactions are grouped together in the main view (e.g., a single trade may consist of both a sell and a buy transaction).
In the Locked Periods area, you will see individual transactions, which may result in a higher count.
UK & Canadian Accounts - Important Information:
Unfortunately, UK and Canadian accounts using inventory methods containing Average Cost Base do not yet have access to the batch processing feature. Due to the unique and complex nature of UK and Canadian tax rules, particularly the Average Cost Base method, which differs significantly from other jurisdictions, batch processing has not been rolled out to these accounts yet.
This functionality is essential for handling large volume accounts, but we are currently working on adapting the batch processing system specifically for UK and Canadian accounts using Average Cost Base. Once fully developed, UK and Canadian users will be able to benefit from the enhanced performance and efficiency that batch processing provides.
To get this feature working for UK and Canadian accounts in the meantime you can change your inventory method to one of the following: FIFO, LIFO, HIFO.
Contact Support:
If you encounter any challenges or need assistance with this feature, please reach out to us directly for support.