Step 1: Customize Journal Entries

Customizing your journal entries is done in the Accounting Policies page. You can customize roll-up methods, and whether you want Integral to automatically post journal entries.

Configure your Journal Entry Bundling Options

Depending on the quantity of transactions, you may opt for different bundling methods: individual journal entries (default), bundled journal entries, or summed journal entries.

What’s the difference between each journal entry bundling option?

In Integral, there are 3 different Journal Entry options:

1. Individual Journal Entries (default)

2. Bundled Journal Entries

3. Summed up Journal Entries

Let’s assume you sync 3 deposits and 1 withdrawal that occurred on the same day to your ERP:

Date	Type	From	To	Token Amount	USD Amount	Category
Jan. 1, 2023	Deposit	Seaport	Royalty Wallet	1 ETH	$1,500	Income
Jan. 1, 2023	Deposit	Seaport	Royalty Wallet	0.5 ETH	$750	Income
Jan. 1, 2023	Deposit	Seaport	Royalty Wallet	2 ETH	$3,000	Income
Jan. 1, 2023	Withdrawal	Ops Wallet	0x…	0.5 ETH	$750	Payroll

Individual Journal Entries

Four separate journal entries will be posted, one for each transaction.

Journal Entry ID	Date	Account	Debit	Credit	Description
INT-001-010123	Jan. 1, 2023	Royalty Wallet	$1,500		Deposit
		Income		$1,500	Deposit

Journal Entry ID	Date	Account	Debit	Credit	Description
INT-002-010123	Jan. 1, 2023	Royalty Wallet	$750		Deposit
		Income		$750	Deposit

Journal Entry ID	Date	Account	Debit	Credit	Description
INT-003-010123	Jan. 1, 2023	Royalty Wallet	$3,000		Deposit
		Income		$3,000	Deposit

Journal Entry ID	Date	Account	Debit	Credit	Description
INT-004-010123	Jan. 1, 2023	Ops Wallet		$750	Withdrawal
		Payroll	$750		Withdrawal

Bundled Journal Entries

Transaction volume is between 500-1k transactions/month. The advantage of using this method is you get a complete audit trail directly in your ERP for each transaction with fewer journal entries.

You will see 2 journal entries, one for each Debit <> Credit pair, with journal lines for each transaction in each.

Journal Entry ID	Date	Account	Debit	Credit	Description
INT-001-010123	Jan. 1, 2023	Royalty Wallet	$1,500		Deposit
		Income		$1,500	Deposit
		Royalty Wallet	$750		Deposit
		Income		$750	Deposit
		Royalty Wallet	$3,000		Deposit
		Income		$3,000	Deposit

Journal Entry ID	Date	Account	Debit	Credit	Description
INT-002-010123	Jan. 1, 2023	Ops Wallet		$750	Withdrawal
		Payroll	$750		Withdrawal

Summed Journal Entries

Used when: Transaction volume is larger than 20k transactions / month.

You will see 1 journal entry, with all Debit <> Credit pairs as individual lines.

Journal Entry ID	Date	Account	Debit	Credit	Description
INT-001-010123	Jan. 1, 2023	Royalty Wallet	$5,250		Quantity of transactions
		Income		$5,250	Quantity of transactions
		Ops Wallet		$750	Quantity of transactions
		Payroll	$750		Quantity of transactions

What Cost Basis Method should I select?

Each business has a different cost basis method they use for their accounting policies, based on their revenue model or jurisdiction. While Integral cannot advise our customers on which one is best, we offer 4 different options for you to choose:

1. ACB: Adjusted Cost Base. This method calculates the cost of an investment by adjusting its original value for various factors.

2. HIFO: Highest In, First Out. This method assumes the highest cost items are sold first.

3. LIFO: Last In, First Out. This method assumes the newest inventory items are sold first.

4. FIFO: First In, First Out. This method assumes the oldest inventory items are sold first.

To select the Cost Basis Method best suited for your organization, head to Policies -> Accounting:

How do I specify the bundling option I want?

In Accounting Policies, enable Journal Entry bundling to roll up your journal entries. Simply check the boxes for which transaction types you would like to bundle, and over what timeframes: