How do I do crypto accounting on BNB Smart Chain?

Ingest on-chain transactions, classify with rules, reconcile historical balances, value positions at period end, and export summarized journals to your ERP, with clear treatments for DeFi, swaps, and gas fees.

Does Tulo support DeFi on BNB Smart Chain?

Yes, major DeFi patterns are supported. Transactions and balances are normalized for reporting and audit.

Can I sync BNB Smart Chain activity to my ERP?

Yes. Post-reviewed journals can be exported with entity and account dimensions for ERP posting and reconciliation.

Crypto accounting on BNB Smart Chain | Tulo

Binance Smart Chain (BSC) is a high-performance blockchain compatible with Ethereum Virtual Machine, offering fast and cheap transactions. It features a Proof-of-Staked-Authority consensus mechanism with 21 validators, enabling 3-second block times and low fees. BSC has become a major DeFi hub, hosting numerous decentralized exchanges, lending protocols, and yield farming platforms. The chain benefits from Binance's ecosystem integration and extensive user base.

What does crypto accounting on BNB Smart Chain involve?

Ingesting on-chain transactions into a human-readable general ledger.
Tracking historical token balances and cost basis for realized/unrealized gains.
Classifying DeFi (swaps, LP, staking, bridges) with clear audit trails.
Mapping activity to a chart of accounts for financial statements.

Recommended workflow for finance teams

Connect wallets, custodians, and contracts relevant to BNB Smart Chain.
Auto-tag common patterns (transfers, swaps, fees) using rules.
Reconcile balances across custody sources and on-chain snapshots.
Review exceptions, assign accounts/entities, and export to ERP.

Common accounting treatments on BNB Smart Chain

Gas fees: typically expensed; capitalize when attributable to asset acquisition.
Swaps: disposal + acquisition with fair value at execution.
Staking rewards: recognize income upon receipt; track tax lots for disposals.
LP positions: record deposits/withdrawals; value positions to capture P/L.

ERP integration

Export summarized journals to your ERP with entity, account, class, and memo dimensions. Keep IDs consistent across environments to support automated, repeatable syncs.