Automatic and manual Merging to Label "Transfer"

New "Auto-Merging" Feature 
(full-automatic linking of transactions)

On 03.04.2023 our long-awaited new Auto-Merging feature for the improved Linking of Transactions between two integrations has been released.

Advantages of the new recognition of so-called transfers are mainly the even more accurate linking of your transactions and the complete automation.

This is achieved by improved merging parameters, which are described in more detail within this article.

Already linked transactions will remain linked.
If you prefer to deactivate the feature, you can now opt-out. The opt-out can be found in the Account Settings and allows you to switch to purely manual merging.

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Transfer of acquisition costs between integrations via label "Transfer"

The transfer of acquisition costs is particularly important for the later calculation of your actual profits or losses. The starting point for the transfer of acquisition costs between two integrations is always a matching Unlabeled Withdrawal from integration A and, as counterpart, a matching Unlabeled Deposit into integration B.

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Transfers between your integrations are automatically identified by Blockpit. This is done by matching related Deposits and Withdrawals (Unlabeled Transactions) based on certain rules (parameters) and linking them directly to the "Transfer" Label. This is called "merging", because two transactions become one.

> The respective merging parameters are described in the "Rules for Auto-Merging" subtopic of this article.

 

Manual-Merging

If a Transfer is not identified automatically or if it cannot be assigned, it will appear as an Unlabeled Withdrawal or Unlabeled Deposit as shown in the image below and can be merged manually.

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Merged Transfers can be filtered via "Status = Merged" (manually) or "Status = Auto-Merged" and unmerged to their Transaction Base-Type Unlabeled Deposit (Incoming) and Unlabeled Outgoing (Outgoing) via the "Unmerge Transactions" button, if necessary.

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Not every Unlabeled Transaction has to be a Transfer!
If you are sure that it is not a Transfer, then other Labels might also be eligible.

> Here you can find more help and a description of automatic & manual Labeling

Tip: Use the "Issues" filter on the transaction page to search for specific Issues such as "Unlabeled Incoming/Outgoing".

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Rules for Auto-Merging to Label "Transfer"

The algorithm for automatic merging to the transaction type "Transfers" works in a simplified way as follows:

  1. Ensuring that incoming and outgoing transactions are not in the same integration
  2. Matching of transaction IDs (transaction hash)
  3. Matching of asset IDs
  4. Check if timestamp of incoming transaction is ≥ timestamp of outgoing transaction
  5. Checking whether (timestamp of incoming transaction - timestamp of outgoing transaction) is ≤ (2 hours)
  6. Check whether incoming asset quantity ≤ outgoing asset quantity
  7. Check whether (incoming asset quantity / outgoing asset quantity) ≥ 0.9
  8. Merge to Transfer if all conditions from step 1-7 apply and at a maximum only one incoming and one outgoing transaction was found
  9. If all conditions from step 1-7 apply and multiple incoming and outgoing transactions are found (duplicates), those transfers whose timestamps are closest are merged to Transfer first

All steps are gone through after each import of a new transaction.

So, the Auto-Merging of transactions happens...

  • ...after each Exchange API import

  • ...after each Exchange CSV import

  • ...after each Wallet import

  • ...after each Excel import

  • ...after each manual creation of an incoming/outgoing transaction via the user interface

Auto-Merging works only for transactions that have not been manually unmerged.

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