If you make changes to your data sources (wallets or exchanges) that affects the transactions for the selected tax year, you will need to run a tax update refresh to pull in any new data to Ledgible. This process tells the Ledgible app to run new calculations on the data so your reports and dashboards are accurate.
To run a tax update refresh, follow these instructions:
- When you log in to your Ledgible Tax account, you will see that the Account Refresh Options button at the top of all dashboards has an orange warning icon of an exclamation point inside of a circle next to it to indicate that an account refresh is needed. Select the Account Refresh Options button, then the Start button to the right of Tax Update Needed. See the screenshot below for an example of what Ledgible Tax will look like when a tax update refresh is needed.
Alternatively, in the Transactions dashboard, you can select the Update Now button in the Tax Update Required warning message near the top or the Run Tax Update button from the top right. The screenshot below shows the Transactions dashboard buttons that you can select to start the update.
- A message is shown informing you that the update may take a long time, depending on the number of transactions. Transaction table operations will not be available until the update completes so that the data is not changed during this process. Select Confirm to proceed.
- While the tax update refresh is in progress, the Tax Refresh Options button will be surrounded by a rotating green circle. Clicking it will show a similar icon next to Updating Tax Data. A warning message will also be shown at the top of the Tax Overview dashboard stating the account is currently being updated and that the data shown is based on the previous data set.
On the Transactions dashboard, a message is shown at the top while the tax update is running. No transactions will be listed here while Ledgible is processing updates.
- Once the tax update process is complete, the warning messages will disappear and the Account Refresh Options button will go back to normal (no rotating green circle or orange warning icon).
You can now access the content of the Transactions dashboard to review your transactions and run reports from the Reports dashboard.