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“Among the most prominent of innovators today is Node40 – an Enterprise Blockchain Accounting Solution on a mission to arm accountants with the tools and intelligence required to instill a great sense of confidence as they venture into these uncharted waters.” -Guthrie
The fast-moving nature of the emerging cryptocurrency space has resulted in a great deal of confusion where taxation is concerned – while many agencies around the globe have attempted to issue guidance on how to best report dues, this is oftentimes nebulous and leaves individuals to interpret the various nuances of the technology in light of these guidelines.
Node40’s Balance is accounting software designed for cryptocurrency traders, investors and accountants – alleviating the woes that come with maintaining an audit trail of cryptocurrency transactions for tax purposes.
Described by Yahoo Finance as ‘The QuickBooks of the Blockchain World’, the platform boasts a sophisticated suite of tools that achieve compliance with both AICPA recommendations and IRS guidance through specific identification of every individual piece of cryptocurrency bought, sold, transferred or held. With integration into everything from the APIs of exchanges to hardware wallets, and the option to generate completed tax forms or import data into other accountancy software, Balance is fine-tuned to accommodate a plethora of cases.
Already, the platform has processed hundreds of thousands of transactions and seen a steep rise in users over the past few years. On the roadmap is the expansion of jurisdictions covered (focusing on IRS compliance) and support for additional cryptocurrencies and tokens.
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See all of the winners, finalists and nominees in the 2019 Tax & Accounting Innovation Awards.
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Tags: Accounting, Auditing, Digital Currency, Hardware, Technology
