Cryptocurrency Mining and Manager.io

1

I’m just setting up Manager currently, I plan to keep track of mining operations.

Just wondering if anyone else is using it for mining operations currently and what practices they use to keep records.

I presume you would

  • update exchange rate every time you receive payout from a miner
  • receive money in BTCbank account

This would mean you would need to pay GST on the amount you receive the money into the bank account at that particular exchange rate?

What about withdraw/selling BTC?

  • update exchange rate when you
  • spend money - “buying aud”
  • receive money in AUD bank account
    or could you simply transfer to bank account?

Is there a easy way to track CGT when withdraw/selling since BTC is considered as an ‘asset’

2

Are you mining BTC only? The main issue is that currently Manager doesn’t allow to create custom currencies. This would be useful feature to have cash accounts denominated in various cryptocurrencies. Ability to create custom currencies will be implemented in near future though.

2 Likes
3

I will be mining others like Litecoin, Dash.

I can see ethereum is already supported.

Thanks for letting me know.

1 Like
4

Lol yea, I asked for that a while ago.

I have been asking them for Dash and Bitcoin Cash too but they’ve ignored my requests lately :frowning:

5

im just using currenencies with similar begining letter… u hav3 to manually change exh rate anyway.

6

Lol, smart xD

I’ll guess I’m going to do that too. The devs ignore me :expressionless:

7

Am still waiting for custom currency implementation.

8

You have not been ignored. Some of your past suggestions were added. And the developer has stated in another thread that he is going to add a capability for custom currencies rather than try to keep up with cryptocurrency invention.

1 Like
9

Is the custom currencies already added in version 18.1.7?