Transaction Label "Interest"

The Transaction Label Interest (e.g. Lending Rewards) is used to record incoming assets in your integration.

> Basics on Labeling and Merging of Transactions

 

How do I create an Interest Transaction?

  1. Open your Blockpit Account and click on the top menu item Transactions.
  2. Now select + Transaction.
  3. 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.

  4. Now select the Transaction Label Interest.

    Interest_EN.png

  5. 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.

  6. Finally, click Create to complete the process and display the transaction in the Integration.

If an Interest is created as a manual transaction in a Manual Integration, it will have a direct impact on the displayed asset balance of your integration.

If an Interest is created as a manual transaction in an Exchange or Wallet Integration, it will not directly affect the automatically and independently imported asset balance of your integration, but it will affect the final balance of your tax report.

 

How are fees considered in Interest Transaction?

Example: Interest of 0.001 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 incoming asset, will be considered as follows:

  • If fees are paid in the incoming asset:

    Case1: No additional fee on the deposit side.
    Incoming Amount: Net transaction amount (amount excluding fees)
    Fees Amount: Enter nothing or 0

    Case2: Additional fee on the deposit side.
    "If the fee is paid in the incoming currency, the input must be increased by the amount of the fee. The fee will be treated as a separate outflow."
    Incoming Amount: Net transaction amount (amount excluding fees) + fee amount
    Fee Amount: Enter fee amount as well

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