Crypto tax software for businesses: Waltio, Koinly or expert support?

Looking for “crypto tax software for business” or a “crypto accounting solution for business”? The names that keep coming up are Waltio and Koinly. Before choosing, you need to distinguish three needs: reporting, keeping the accounts and organising the use of crypto within the business. This guide compares the tools based on their official websites and explains where Si0x’s support fits in.

Three needs, three different professions

• Reporting and calculating. Importing transactions, valuing them, calculating capital gains and producing a report.
• Keeping the accounts. Recording transactions in the company’s accounts, reconciling, closing. This is the accountant’s job, sometimes supported by software.
• Organising the use. Deciding what to accept, with which solution, who approves, where the keys are, what treasury rules apply and which authorised providers to use. No reporting tool does this for you.

Confusing these three needs is the most common cause of poor purchases. Let’s look at what each player offers.

Waltio: a crypto tax reporting tool

Waltio presents itself as a crypto tax reporting solution: syncing with more than 700 exchanges, wallets and blockchains, automatic categorisation of transactions (DeFi, staking, airdrops), a tax report, help with filing French forms 2086 and 3916-bis, and read-only access, without a private key^[1]. You can track your portfolio for free and only pay when generating the report, depending on the volume of transactions^[1].

It is a good example of a tool focused on a specific need: calculating and reporting. For a business, the next question is how this calculation fits with the accounts kept by the accountant, and with the organisation of payments and security, which we cover below.

Koinly: an offering dedicated to businesses

Koinly is an international platform aimed at individuals, tax professionals and businesses. Its “Crypto Accounting Software for Enterprises” offering highlights imports from more than 900 sources via API or CSV file, automated reconciliation, multi-user access with limited permissions so you can invite your accountant, and syncing to Xero and QuickBooks^[2]. Koinly states that it covers more than 100 countries and charges per tax year, with no subscription^[2][3]. A French-language page is available^[4].

A point to watch for a French SME: the accounting integrations highlighted are Xero and QuickBooks. Ask your accountant whether the exports suit your software and your accounting treatment.

Cryptio: a platform designed for professionals

Cryptio describes itself as a data transformation and ERP solution for digital assets: ingestion of more than 150 blockchains, platforms and custodians, balance reconciliation and exports to ERPs, banking and risk tools, via API^[5]. Its website highlights large-scale use cases: assess it against your volume of transactions to see whether it is proportionate for a small business or SME.

The chartered accountant: the guarantor of the accounting and tax treatment

Whatever the tool, it is the accountant who validates the recording of transactions, year-end valuation, VAT and tax returns. The software above consists of data collection and calculation tools; it replaces neither the accountant’s reading of your situation nor their responsibility. For a business that accepts or holds crypto, a firm that knows digital assets is a real asset.

Waltio, Koinly, Cryptio: how should a business choose?

The right question is not “which software is best?” but “what does my business need?”. If the issue is reporting or keeping the accounts, you will compare Waltio, Koinly, Cryptio or another tool with your accountant. If the issue is getting started properly or securing the use of crypto, no software can do it alone. Here is the overall picture.

“Out of scope” means that this is not the purpose of the tool, with no judgement on its quality.

What Si0x adds

Software processes transactions after they have taken place. Si0x steps in before and around them:

• Choosing and setting up payments. Accepting stablecoins or crypto payments, paying suppliers abroad: see accepting crypto payments in your business and stablecoins, international payments and treasury.
• Defining a treasury policy. What amounts, what roles, what exit conditions, without investment advice.
• Securing. Separating business and personal, dual approval, multisig, choice of custody method: see crypto security for businesses. Si0x never holds your funds or your keys.
• Checking your providers. Checking that a provider is on the AMF white list^[6] and understanding the MiCA framework: see our guide MiCA and PSCA (formerly PSAN).
• Training your teams. Finance, management, support: see crypto training for businesses.
• Ongoing follow-up. Answering questions, adjusting the rules, keeping track of regulatory changes.

Si0x does not keep accounts, replaces neither the accountant nor the software, and provides no tax, legal or investment advice.

How they work together: an example

A service SME invoices foreign clients and is considering accepting stablecoins. In practice, it follows four steps:

1. Si0x compares the options, chooses an authorised provider together with the company, and sets up the addresses, dual approval and the invoicing procedure (see accepting stablecoin payments).
2. The company collects the payments and keeps the supporting documents: invoice in euros, transaction identifier, date, amount.
3. A tool (Koinly, Cryptio or another, depending on the volume and the accountant’s choice) imports and reconciles the transactions.
4. The accountant validates the accounting and tax treatment and closes the accounts.

Everyone does their own job, and the data flows without re-keying or grey areas.

How to choose: five questions

• Does my business accept, hold or pay in crypto? For what volumes?
• Do I already have an accountant, and are they familiar with digital assets?
• Are my payment and custody providers authorised (PSCA)?
• Who approves transactions, and where are the keys?
• Do my teams know how to apply the procedure?

If you answer “I don’t know” to several questions, start with a scoping exercise: it costs less than buying a tool you don’t need.

Frequently asked questions