Product Update 20th March
Updated: Mar 20
Managing your crypto assets can be a daunting task, but with the right tools, it doesn't have to be. That's why we at Mensari are excited to announce the latest updates to our crypto accounting tool that makes managing on-chain assets a breeze.
Our team is constantly working to improve the user experience and add new features that make web3 accounting easier. In this release, we've highlighted a few key features that we believe will help our users get even more value out of our platform.
One of the most important features of any crypto accounting tool is the ability to track the cost-basis of your assets. We understand this and have added a report showing the cost-basis maintained. This report will give you a breakdown of all the transactions and how each transaction affects the cost basis, especially useful for your accounting audits. If you're unsure of how cost basis works, check out our previous blog where we break it down for you.
Additional Fiat currencies
We have enabled multiple additional currencies such as GBP, SGD, AED, AUD, CHF, JPY, CAD, HKD, SEK, KRW, NOK, NZD, INR. making it easier for you to manage your finances across different geographies.
Accounting Health Check
To make sure your accounting is in good health, we have added another cool report on the dashboard. This report essentially runs diagnostics and gives you a brief on the main page. The accounting health check ensures that the Balance Sheet, Trial Balance, Asset, and Cash accounts are balanced. The way we check this is by making sure On-chain wallet matches Asset balance, Transaction total balance matches on-chain balance & Cash-flow report should match Cash balance in balance sheet.
Mark to Market setting on ledgers
Mark to Market or Fair value Accounting is an integral part of crypto accounting as it provides a more accurate picture of your company's financials. We now allow users to choose if certain sub ledgers should be calculated as per Mark to Market settings. To learn more about Mark to market, check out our blog on Fair value accounting.
Our auto-classification feature allows you to classify certain recurring transactions and set rules for transactions so that they can be auto-classified, saving you a lot of time. To learn more about how we're automating your crypto accounting, check out our blog.
We're excited to provide you with the latest updates to Mensari that will make managing your crypto assets easier than ever before. Our team is always working hard to improve the user experience and add new features to our platform. If you have any feedback or suggestions for improvement, please do not hesitate to reach out to us.
To find out more book a demo with us or Sign up for free and try it for yourself.