Hi there 👋
During the analysis, the last step is to consolidate the withdrawals to match your deposits.
Consolidate, associate or match transactions are all terms that refer to the same action.
As a reminder, on Waltio, each withdrawal must be matched by a deposit in case the relevant cryptos remain in your wallet.
Example: You withdraw 2 ETH from Kraken to Binance. On Waltio, you will see a withdrawal of 2 ETH from Kraken and a deposit of 2 ETH from Binance.
Waltio may not automatically match a deposit to a withdrawal if the time between the two transactions is longer than 6 hours or if there are multiple transactions of the same amount. Thus, Waltio will not match your transactions automatically. You will have to match them manually by selecting the 2 transactions.
Here is a tutorial to help you with this step.
Step 1: In the “Withdrawal Classification” step, detect withdrawals related to deposits.
Step 2: Select the withdrawal and deposit to be consolidated
Step 3: Click on “Associate”.
💡 If you made a mistake, you have the option to disassociate them by selecting them 👇
🎉 The transactions are well associated and the “Withdrawals to be labeled” warnings will disappear regarding the transactions that just matched.
💡 It is possible on this step to assign labels to your withdrawal transactions. To understand the labels and their tax impacts, here is our dedicated article to this topic.
If you have any other questions, do not hesitate to contact us via the chat just at the bottom right of your screen! 💬
The Waltio team