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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.

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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.

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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".

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  • 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).

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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).

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2. Trigger the Sync

  • Action: Sync your transactions.

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

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    • Sync specific transactions from the Ledger.

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  • 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.

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