Account for Cryptocurrency Holdings in Zoho Books/Custom Currencies?

Account for Cryptocurrency Holdings in Zoho Books/Custom Currencies?

Hello, I've recently started using Zoho to run my small business and I've really been enjoying all of its features. However, I've been struggling to find a way to account for cryptocurrencies in Zoho Books.

My company mines a Cryptocurrency token called Helium ($HNT). Multiple times per hour I receive payments in HNT for mining and every few days I have been selling them off for USD which is then deposited in my bank account. I've started to hold a % of my earnings in $HNT instead of selling and I would like to account for these holdings in my profit/loss each month and I would like to be able to account for FIFO when selling + be able to calculate short and long term capital gains/losses if I hold these tokens long term.

Is there a way to account for these tokens in my accounting? From my research, I've discovered that Cryptocurrencies are not yet supported and I'm sure this problem will likely need some custom code. I am a developer so I can put together a custom Zoho app (or pay a Zoho App Dev team) that ties into the Helium API to check the current price and number of tokens and input the dollar value somewhere in Books. However, I'm not sure where the best place to input this money is?

Does anyone have any suggestions for how to structure this in Books? Any suggestions would be very helpful.


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