How do I do crypto accounting on Shimmer EVM?

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 Shimmer EVM?

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

Can I sync Shimmer EVM activity to my ERP?

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

Crypto accounting on Shimmer EVM | Tulo

Shimmer EVM is the Ethereum Virtual Machine implementation on the Shimmer network, IOTA's staging network for testing new features. It provides EVM compatibility while leveraging IOTA's feeless and sustainable infrastructure for smart contract execution. Shimmer EVM serves as a testing ground for IOTA's transition to programmable smart contracts. The platform combines IOTA's unique architecture with Ethereum's developer ecosystem and tooling.

What does crypto accounting on Shimmer EVM 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 Shimmer EVM.
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 Shimmer EVM

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.