Your accountant needs to know three things about every payment. Who paid or who you paid, what it was for, and how it shows up in your books. With a Smart USD Wallet, money can come in as a US dollar bank payment or as stablecoins. Good records tie both back to the same invoice.
In short
- Keep one row per payment, with the date, the invoice number, the amount and any fees.
- For stablecoin payments, also save the transaction ID and the network it used.
- Keep stablecoins, US dollar bank payments and payouts in other currencies in separate columns, so each one adds up on its own.
- Keep the FX rate and any fees with the payment they belong to.
Why wallet records matter
A wallet shows money moving. It does not show the reason. Your accountant also needs to know who paid, which invoice it settled, what fees applied, and whether a transfer was just money moving between your own accounts.
For each payment, your records should answer four questions.
- Which business does it belong to? Every account and wallet should have one clear owner.
- What was it for? An invoice, a bill, a refund, or a move between your own accounts.
- What amount goes in the books? The amount, the currency, and any fee or FX.
- Is it finished? A payment that is still pending or under review is not done yet.
A transaction ID helps you find a stablecoin transfer later. It does not tell you who paid or why. Your records fill in that part.
Where the Smart USD Wallet fits
Bancoli is a chartered bank and fintech in one. With the Smart USD Wallet, your clients can pay you by ACH, RTP, US domestic wire and stablecoins. Your named US dollar account details are in your business’s legal name. If you work for yourself, they can be in your own name.
Smart USD is the eligible USDC, USDi and USDT in your wallet, all fully backed, shown as one dollar balance. It is not a deposit and is not FDIC-insured. Free FX in 25+ currencies is built in when you pay out. You control your funds. Bancoli does not own or control them.
That matters for your records. The bank payments and the stablecoins in your wallet are different things, so keep them in different columns.
Build records your accountant can use
1. List every account and wallet your business uses
Make a simple list of your US dollar account details and wallet addresses. For each one, write down which business owns it, what you use it for, which network it is on, and who keeps its records. Keep sign-in and approval details out of the accounting file.
2. Set your columns before you start
Use one row per payment. Pick your columns first, so every row looks the same. A good starting set is:
- Date
- Who paid you, or who you paid
- Invoice or bill number
- Amount and currency
- How it moved: ACH, RTP, US domestic wire, or which stablecoin and network
- Transaction ID or bank reference
- Fees
- FX rate, if the payment changed currency
- Status: pending, under review or done
- A short note on what it was for
If one payment covers two invoices, list both invoice numbers in that row. If a client pays part of an invoice, note what is still owed.
3. Write down your opening balances
Pick a start date. On that date, write down the balance of each wallet and each account. For your Smart USD balance, also note how much is USDC, USDi and USDT, since your wallet details show which coin is which. Your accountant needs these numbers to check that everything after them adds up.
4. Keep the different kinds of money apart
Use separate columns, or separate tabs, for:
- Stablecoins coming in and going out of your wallet
- US dollar bank payments by ACH, RTP or US domestic wire
- Payouts you send in other currencies
Each group should add up on its own. Mixing them is how small gaps get hidden. Record each payment only once. Use the bank reference or transaction ID to check that the same payment is not in two columns.
5. Keep the FX and fees with the payment
When you send a payout in another currency, save the rate, any fee, and the amount the other person received. Put them in the same row as the payment. Free FX covers the currency change. A payment fee can still apply, depending on your plan. Your accountant needs both numbers to book the payment correctly.
Check what your Bancoli records show for each payment. If the rate or fee is not in your export, save it yourself at the time you pay.
6. Mark moves between your own accounts
Moving money from one of your accounts or wallets to another is not income and not a cost. Mark these rows as transfers and note both ends. Otherwise they can look like sales or expenses.
7. Agree a valuation method with your accountant
Ask your accountant how they want stablecoins valued in your books, and use the same method every time. Write it down at the top of your file so anyone who opens it knows the rule.
8. Hand over your records on a set day each month
Pick one day each month. On that day, check that every row has an invoice number or a note, mark anything still pending, and send the file to your accountant. Small monthly checks are easier than one big clean-up at year end.
Check what your export includes
Before you rely on an export from any account or wallet, open one and look. Does it show the date, the amount, the currency, the fee, the FX rate, the transaction ID and the network? If something you need is missing, add a column and fill it in yourself.
Matching payments to invoices
This guide is about what your accountant needs. For step-by-step help tying each payment to the right invoice, read Stablecoin payments: how to match receipts to invoices.
FAQ
Do I need to save the transaction ID for every stablecoin payment?
Yes. Save it with the network it used. It helps you and your accountant find the transfer later. It does not show who paid or why, so add the invoice number too.
Should my accountant have my wallet sign-in?
No. Keep sign-in and approval details out of the accounting file. Your accountant needs your records, not access to move money.
Is my Smart USD balance a bank deposit?
No. Smart USD is the eligible USDC, USDi and USDT in your wallet, all fully backed. It is not a deposit and is not FDIC-insured. You control your funds. Bancoli does not own or control them.
How should I value stablecoins in my books?
Agree a method with your accountant, write it down, and use it every time.
How often should I send records to my accountant?
Once a month works well for many small businesses. Pick a set day and stick to it.
Want US dollar payments and stablecoins in one place? See the Smart USD Wallet.