Skip to content
TRES Finance Help Center home
TRES Finance Help Center home

Closing the books

"Closing the books" in TRES is the process of finalizing your crypto financial data for a specific period so it can be accurately synced to your ERP and locked for reporting.

Phase 1: Data Verification (The "Health Check")

Before you begin accounting work, ensure TRES has seen all the data.

1. Check Data Freshness

  • Action: Look at the "Data collected..." badge in the top-left corner of any page.

  • Goal: Ensure the status is "COMPLETED" or "Data collected X minutes ago" to confirm all recent transactions have been fetched.

    image.png


2. Verify Wallet Connections

  • Action: Go to the Accounts page.

  • Goal: Ensure no wallets are showing connection errors. If a wallet is disconnected, TRES cannot see new transactions, making your books incomplete.

Phase 2: Reconciliation (The Core Step)

This is the most critical step. You must prove that the TRES Ledger matches the actual blockchain balance.

1. Identify Unbalanced Assets

  • Action: Go to the Ledger page.

    • Open the Reconcile side-panel from the Actions menu.

      image.png

2. Close Reconciliation Gaps

For every "Unbalanced" asset, you must find the missing data.

  • Action: Choose how to close the gaps:

    • Manual Transactions: Use the "Reconcile all" or "Reconcile" (for specific asset) feature to create a manual entry that fills the gap.

    • Automate reconciliation gaps filler: Visit this guide

    • Spam: If the discrepancy is due to a spam token, mark the asset as SPAM to remove it from your books.

Phase 3: Classification & Valuation

Ensure every transaction has a price and a category.

1. Fix Missing Fiat Values

Transactions with no USD value cannot be posted to your ERP.

  • Action: Go to the Ledger page and use the filter "Missing FIAT value".

    image.png
    image.png

  • Fix: Click the Edit icon on these transactions to manually assign a USD price (e.g., for a niche token that had no price feed at the time of the transaction).

    image.png
    image.png

2. Review Cost Basis

  • Action: Go to the Overview/Ledger page --> Cost Basis tab.

  • Goal: Check for any calculation errors. If TRES cannot calculate the cost basis, you will see an error. You must resolve these for your Realized Gains/Losses to be accurate.

3. Categorize Transactions (Tags)

  • Action: Ensure all transactions for the month have the correct Tags (e.g., "Revenue", "Expense", "Payroll").

  • Tip: Use Automations to apply these tags automatically if you haven't already.

Phase 4: Sync to ERP (The "Close")

Once TRES data is perfect, push it to your accounting system of record.

1. Review Pre-Sync Status

  • Action: Go to Integrations --> Connected ERP (View Configuration).

  • Check: Look at the Syncing Status widget.

    • Pre-Sync: These are the transactions ready to go. Review them to ensure they map to the correct Chart of Accounts.

    • Failed: Resolve any transactions in the "Failed" bucket (usually due to a mapping error).

      image.png

2. Trigger the Sync

  • Action: Sync your transactions.

    • Click "Sync bulk transactions" from the 3 dots menu.

      image.png

    • Sync specific transactions from the Ledger.

      image.png

  • Verification: Watch the transactions move from Pre-Sync to Completed.

Phase 5: Finalization

1. Generate Month-End Reports

  • Action: Go to the Reports page.

  • Recommended Reports:

    • Transaction Ledger: For a full detailed backup.

    • Balance Trends: To prove your ending balances matches the bank/blockchain.

    • Cost Basis / Realized Gains: For tax reporting.

2. Lock the Period (External)

  • Action: Go to your ERP (QuickBooks, NetSuite, Xero).

  • Final Step: Once the TRES data is in, "Close the Books" inside your ERP by setting a Closing Date. This prevents any changes to the data you just synced.

Powered by Plain