At Multis, we spent the winter of 2020 talking to our peers. We had conversations with over 150 next-gen crypto startups and DAOs trying to understand what was driving them crazy about doing business in crypto. These discussions were a wealth of information and have guided our product development.
Crypto accounting: time consuming & overwhelming
We’ve written about how difficult basic bookkeeping can be when you’re doing operations in crypto. Indeed, manually tracking transactions coming from multiple wallets can end up slowing down operations and sometimes require the presence of a full time employee. This is why we’ve built a wallet that allows users to upload other wallets, label transactions according to a series of categories, and export the data as a .csv file.
Our goal here is to help professionals get their finances in order: to save time by visualizing all transactions in a single hub and getting clarity by adding category labels. We know that this can be a useful way to understand expenses and make sense of what can be complex blockchain data.
Giving added context: The notes feature
Even though we’re proud of our categories we know that when you’re on a team, it’s important to provide as much context and nuance as possible.
That’s why we have a “notes” section integrated to every transaction- you can even include emojis 😉. Internally at Multis we use the notes feature daily, it’s already saved our ops people time- they follow up a lot less on various expenses and the notes are exported onto our .csv exports.