What is it ?
Ledgible is a SOC I and SOC II Type 2 SaaS platform that pulls in digital asset data from various sources including directly from the blockchain, normalizes it, performs various calculations and processes, then formats it for transmission to various software systems including: NetSuite, Xero, Quickbooks, Advent Geneva, 1099 forms, Thomson Reuters systems, Drake Systems, Intuit systems and more.
The software platform offers extreme flexibility to match each user's needs from multi-entity support, transaction modification, cost basis calculation and modification, various tax methodologies including Specific ID, wash sale rules and more.
What problem does it solve?
For any person or company that touches or deals with digital assets, they have challenges bringing in the digital asset data into their existing systems. Most existing systems cannot handle digital assets whether it's the high transaction volume, the decimal points or other digital asset challenges. Ledgible enables those existing systems to ingest digital asset data, thus allowing the company to utilize and manage digital assets from an internal, external, regulatory and compliance perspective.
Feature Highlights
- Integrations with all major exchanges, wallets, blockchains, custodians, etc..
- Integration with Quickbooks, NetSuite, Xero, Advent Geneva and other similar systems with customizable categorization rules.
- HIFO, LIFO, FIFO, Specific ID Methodologies,
- Multi user and multi entity support, Wwash sale support, G20 currency support, custom and standard reporting, 1099 provider support, DeFi and NFT support, support for all major professional tax management systems (Intuit, Thomson Reuters, Drake, etc),
- Chainalysis integration, cost basis adjustments, internal wallet transaction tracking and cost basis tracking, historical balances and much more.
How it works
Ledgible pulls the digital asset transactional data from the source. Whether that source is an exchange, a blockchain address, a custodian or any of many combination of sources.
We then process it and normalize it. Then the data is presented in a readable way to the user who can report it however they need to, whether it be custom CSV files, reporting into a general ledger, reporting to a 1099 reporting partner, reporting into a financial or banking system, or just a standard report for internal use.
Ledgible presents and sends the data appropriately and automatically, greatly reducing the time and mental load on the client.
Watch a video guide here.