Negative balance

Understanding and correcting negative balances

Updated over a week ago

Hello πŸ‘‹

It is possible that during the analysis, the first page is displayed with warnings of negative balances.

What is a negative balance?

A negative balance warning is generated when a transaction seems impossible based on the information you have provided to us, in other words when you tell us you are taking out more cryptocurrencies than you have in stock.

Example: You withdraw 2 ETH from your account when you only have one in stock according to the information you have provided.

Negative balance warnings are generated on one token/platform pair. Therefore, they will always be listed by token AND by platform.

Example: Negative balance of 2 ETH on Coinbase.

Why this warning?

This warning is generated because we need to know your total balance, i.e. the total value of your portfolio.
In fact, the overall value of the portfolio is one of the three components of the capital gains calculation:

Having a negative balance means that your stock of a cryptocurrency on a platform is less than 0 at a time T. This is not technically possible.

What creates a negative balance?

There are 3 reasons for a negative balance warning:
1 - One or more deposit transactions are missing from Waltio

2 - One or more withdrawal transactions are present in Waltio in excess (double / triple...)

3 - Transactions are not recorded in the correct order (a withdrawal recorded before its deposit, for example) on Waltio

To find out whether you are in situation 1, 2 or 3, you should look at your stock sheet.

How do I correct a negative balance?

Identify the source of the negative balance

First of all, go to your corrections page then filter the warnings on negative balances.

Then select a transaction and click on the blue "Correct" button on the right.

πŸ‘‰ Solution 1: One or more deposits are missing

By clicking on this solution, Waltio will show you all the transactions you have entered manually, which can often be a source of errors.

Example: You wrote Binanc instead of Binance or entered 1 BTC instead of 0.1 BTC

πŸ‘‰ Solution 2: Re-import transactions

It is recommended that you update your API keys if they are old (more than 6 months).
However, it is imperative to do so for accounts added before 1ᡉʳ aout 2022.

This could explain the absence of some transactions, as we continue to improve the tool and its ability to read transactions. If you have not made many transactions, you can add a new one or contact us.
To do this, you will need to delete your account by going to my crypto accounts
πŸ’‘Re-importing your accounts will have the effect of deleting and then re-importing all transactions linked to these accounts. You will lose any changes you have made.

πŸ‘‰ Solution 3: Missing transactions/accounts

When you add a platform, you must add all your transactions carried out on that platform.

You should therefore check that Waltio correctly reads all the transaction types for the platform on which you have a negative balance. To do this, go to the dedicated article for the platform in question.

Example: Deposits linked to participation in Launchpad on Binance are not read by the API. To see them appear in your account, you need to add the file RelevΓ© Complet.

If the missing transaction type is not supported by Waltio, then you will need to create the transaction manually, via a Waltio file or compensate.

If you think this is a transaction present in your file/API but not being read by Waltio, contact us via the Chatbot at the bottom right of your screen giving us as much information as possible about your situation.
Finally, make sure that all your platforms are added to your Waltio account.
​ Example: I add my wallet Metamask by selecting the blockchains ETH and Polygon. But I forget to add the Binance Smart Chain even though I have made transactions on it.
This could also cause negative balances and an incorrect tax report.

πŸ‘‰ Solution 4: Duplicate transactions

In 99% of cases, this is linked to a duplicate transaction, for example, if you have added a file and an API for a platform and the transaction is present in both.

Identifying it is very simple. In the "Contexe" section, Waltio will show you the tokens and the platform concerned by the negative balance.
You will need to check that there are no duplicates in these transactions.

πŸ’‘ Two transactions of the same amount, involving the same tokens, and carried out at the same time are very likely to be a duplicate. If you're not sure, check your account on the platform.

πŸ‘‰ Solution 5: Transactions are not posted in the correct order

In 99% of cases, a withdrawal appears before a deposit. In this case, you need to filter as in the previous situation to identify the anomaly. Once found, the withdrawal should be brought forward so that it is booked before the withdrawal.

Example: In my Coinhouse file, all the day's transactions are recorded at the same time. This creates negative balances, because my withdrawal of 2 ETH is read before the deposit of 3 ETH. To correct this, I'm going to bring the deposit forward by 5 seconds so that it can be read by waltio before the withdrawal.

πŸ‘‰ Solution 6: I always have a negative balance

If you have not succeeded in correcting your balance, Waltio will consider by default in your report that your balance was 0. You can then move on to the next correction.
If you really want to correct your balance so that your calculation is as accurate as possible, you can have one of our experts intervene by clicking on the button below.
You will then be redirected to our personalised support services
- Review by an expert
- Full service

πŸŽ‰ Congratulations, you've correctly corrected your negative balances!

πŸ‘‰ Here is some additional information for more specific cases:

1️⃣ We recommend renewing your API keys if they are old (more than 6 months). This could be the reason why certain transactions are missing, as we are constantly improving the tool and the way it reads transactions. If you haven't made too many transactions, add a new one or contact us.

2️⃣ We do not show negative balances of less than €10. The reason is simple: to reduce the number of small negative balances that are time-consuming to find and clear. They are likely to be displayed on the stock sheet, but not on the analysis page. Don't worry, they have a negligible impact on the calculation of your added value.

3️⃣ A Waltio format file that is not correctly filled in can create negative balances. Indeed, if column I "Exchange / Platform" contains the name of the platform other than in this table (in upper case), the transaction will not be read.

4️⃣ Tips: if you have a large number of negative balances on different tokens, but on the same platform, the reason for the negative balance is probably the same for all the tokens. Example: I have negative balances for BTC, ETH and DOT on Binance.

However, if you have a large number of negative balances on the same token, but on different platforms, then there is no particular correlation. You will need to correct them one by one.

5️⃣ If you have negative balances on a wallet, it is highly likely that this is due to bridge transactions not being read. In this case, follow this article .

6️⃣ A deposit can be reported as a negative balance warning.
01/01: Balance 0 BTC: Withdrawal of 2 BTC β†’ Negative balance of 2 BTC

02/01: Balance - 2 BTC: Deposit 1 BTC β†’ Negative balance 1 BTC

If you have any further questions, please don't hesitate to contact us via the Chatbot just at the bottom right of your screen! πŸ’¬

The Waltio team

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