How do I do crypto accounting on Ripple XRP?

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 Ripple XRP?

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

Can I sync Ripple XRP activity to my ERP?

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

Crypto accounting on Ripple XRP | Tulo

The XRP Ledger (XRPL) is a decentralized blockchain designed for fast and efficient cross-border payments and remittances. It features a unique consensus mechanism that doesn't require mining, enabling energy-efficient operations with 3-5 second settlement times. XRPL supports advanced features like decentralized exchange functionality, automated market makers, and programmable smart contracts through hooks. The platform has gained significant adoption among financial institutions for international payment solutions and continues to evolve with new DeFi capabilities.

What does crypto accounting on Ripple XRP 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 Ripple XRP.
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 Ripple XRP

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.