Doing blockchain operations require three accounts to be configured. A « Blocjchain Posting Group » can be configured once and affected to a blockchain network, accounts or crypto currency token.

Blockchain Posting Group

Blockchain posting group is used to configure G/L Accounts to use along with a specific blockchain network, or more secificly for a wallet or token.

When the lookupp action is used on a field to select an account, the default behavious filter on matching account. Enable « View All Accounts on Lookup » to select across the complete list of existing G/L Accounts.

Posting group can be affected on Blockchain Network card, Crypto Token contract, Blockchain Account Card, Blockchain Account holded token.

When a blockchain operation is posted, the system will look to use the most specific posting group up to to the network.

Asset & Currency Unrealized Account

This account determine the where the crypto assets valuation in local comany currency shall be posted into. This account is used on the « Prepare » action on the revaluation journal.

This account is balanced with the « Currency Unrealized Account » on separated line.

Read more about how to update exchange rate and run revaluation here

Paid Fee Account

When sending a transaction through the Blockchain Payment journal, the system wait until the transaction is confirmed by the network before posting it.

Once the transaction is confirmed, the system post related accounting : fees and third party balance are updated.

The Fee accounting is composed by a debit on the Asset Account and a Credit to the « Paid Fee Account ».

Analytics – Default dimensions

You can affect dimensions, such as area, project, or department, on blockchain or specific wallet to distribute costs and analyze related transaction history.

Note : if the same dimension is defined both on a blockchain network and an account, the account value is used by the system.

Dimensions defined on a blockchain network or a account are merged with related receivable or payable transaction.

Receivable : a customer pay a sales invoice through the bitcoin network.
The system automatically detect and reconcile the incoming transaction.
A customer payment line is prepared with standard dimensions, such as the one associated with the customer or the G/L account.
Before posting, the system add the default dimensions defined on the blockchain or the receiving account.

Payable : a blockchain transaction submit from the payment journal is confirmed by the network.
The system create journal line according the paid fee and the third party, if any.
Before posting, the system add the default dimensions defined on the blockchain or the « receiving account. »From Address » account.

Additionally to the dimension stored on standard entries (customer ledger entires, general lerger, …), it is also stored on the blockchain transaction.