The Transaction Label Payment is used to include outgoing assets as a separate payment or expense in your integrations. The transaction is thereby valued at the market value at the time of the outflow.
> Basics on Labeling and Merging of Transactions
💡 The combination of the labels Payment + Non-Taxable (In) can also be used as an alternative to the Trade label. To enable an even more precise valuation, the asset value of both transactions can also be updated. This process is useful if, for example, very high price fluctuations within a few days (Terra LUNA price collapse) have resulted in a strong inaccuracy.
🎓 More details on the tax implications and categorization of all transaction labels can be found in the tax results under the menu item “Reports” and in the last pages of your tax report.
How do I create a Payment transaction?
Open your Blockpit Account and click on the menu item Transactions.
Now select + Transaction.
Enter the Date and Time of the transaction.
In case of a manually created transaction directly in the WebApp, use your local time.
If the transaction is imported via CSV/Excel, use the standard exchange time UTC.
Now select the Transaction Label Payment.
Now enter the Integration, Asset and Amount. If you paid Fees, enter them with quantity and currency as well.
Tip: In the input fields for assets, you can enter the short name (BTC) or long name (Bitcoin) as a search term to narrow down the search of the displayed list. If your asset is not selectable, you can get more information here.
Finally, click Save to complete the process and display the transaction in the Integration.
How do manually created transactions affect my balance?
Manual Integration (CSV/Excel)
Incoming and outgoing transactions created within a manual integration directly affect the displayed asset balance of that integration.
Automatic Exchange or Blockchain Integration (API)
Incoming and outgoing transactions created manually within an automatic exchange or blockchain integration do not affect the automatically imported Synced Balance of that integration. However, they can affect the Calculated Balance and therefore influence the results shown in your tax report.
How are fees taken into consideration for Payment?
Example: Payment of 1 BTC with 0.0001 BTC fee.
Fees are mostly considered on the withdrawal side, but can also occur on deposits.
Fees, if paid in the outgoing asset, will be considered as follows:
If fees are paid in the outgoing asset:
"The fee is treated as a separate outflow."
Outgoing Amount: Net transaction amount (amount excluding fees)
Fee Amount: Enter fee amount extra