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tailwinds
Level 1

How does one record an investment purchase? (bitcoin)

How do you record a bitcoin purchase as a business investment on quickbooks online? 

 

Does the following look correct?

 

1) Create a bitcoin investment account (asset account)

2) Once the purchase shows up on the bank feed, categorize using the account created

 

How do you account for the change in value of the investment? how often do you update it? how do you handle the sale of the investment ?

 

Thank you 

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