The Transaction Label Gift Sent is used to account for outgoing assets in your integrations.
How do I create a Gift (outgoing) transaction?
- Open your Blockpit Account and click on the top menu item Add.
- Now select Add Transaction.
- 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.
- Now select the Transaction Label Gift (outgoing).
- 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.
- Finally, click Create to complete the process and display the transaction in the Integration.
If a Gift (outgoing) 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 a Gift (outgoing) 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 for Gift (outgoing)?
Example: Gift (outgoing) of 1 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 outgoing asset, will be considered as follows:
- If fees are paid in the outgoing asset:
"The fee is treated as a separate outflow."
Outgoing Amount: Net transaction amount (amount excluding fees)
Fee Amount: Enter fee amount extra