Gilded launches new crypto tool for QuickBooks
Gilded, a B2B blockchain payments and accounting software provider, has released Compass, a solution that enables advanced mapping capabilities between blockchain wallets and a business’s general ledger.
Compass integrates with Intuit’s QuickBooks Online.
As a company, Gilded aims to unify the worlds of traditional finance and digital assets. With Gilded, QuickBooks Online users can reconcile cryptocurrency transactions alongside fiat transactions in QBO.
The regulatory environment for cryptocurrency is dynamic, and rules vary country to country and even state to state. As the cryptocurrency ecosystem continues to mature, it becomes more important to report and account for crypto investments properly. Businesses and their stakeholders need an accurate, complete, and highly available way to analyze on-chain financial performance as transaction volume scales.
studioEAST/Photographer: studioEAST/Getty I
Gilded Compass is designed for accounting firms and crypto businesses with a large volume of transactions that need to define rules for how crypto transactions are synced. Compass works by simplifying transaction classifications, meant to make it easier to balance crypto wallets and revalue assets at the end of each reporting period.
The same functionality will soon be available for Xero, NetSuite, and other popular accounting platforms, Gilded says.
“Financial reporting is no longer an afterthought for companies building in the blockchain space,” said Gil Hildebrand, CEO of Gilded, in a statement. “The introduction of Compass marks the most advanced crypto accounting tool on the market to date. Gilded is perfectly positioned to help crypto-forward companies achieve accurate, complete, and unified financial reporting.”
Compass is the Gilded team’s second major launch of the year, following the release of Mass Pay, the first DeFi-powered payroll tool, in April.
Through Compass, Gilded users can access the following functions:
● Crypto invoicing and payments;
● Non-custodial crypto payroll; and,
● Crypto accounting support for QuickBooks and Xero.
Businesses interested in adding Compass functionality to their crypto accounting workflow can book a consultation directly on the Gilded website.