SUMM

What is it?

SUMM (formerly Crypto Tax Calculator) is a powerful, all-in-one crypto tax and accounting platform designed to make it easy for accounting firms to manage crypto clients. Their software streamlines your workflow by automatically importing client transactions, intelligently categorizing them, and generating accurate, jurisdiction-specific reports. Whether you're managing individual crypto investors or enterprise-level clients, SUMM lets you manage all accounts under one roof.

What problem does it solve?

With SUMM, you no longer need to juggle multiple tools or wrestle with manual spreadsheets. SUMM gives you a powerful, unified solution that scales with your practice, saving your firm valuable time and resources while ensuring accuracy and compliance for your clients.

Feature Highlights

• Built for Complexity
  • Designed from the ground up to handle the intricacies of on-chain transactions, especially when it comes to DeFi and NFTs.
• Extensive Integration Support
  • Seamlessly integrates with over 1,000 exchanges, wallets, and blockchains.
  • Export directly to QuickBooks and Xero.
• Rules Based Engine
  • Create custom rules to automatically categorize transactions based on your own guidelines.
  • Automatically map transactions to a chart of accounts based on rules.
• Security and Safety
  • SOC 2 Type 2 certified and equipped with single sign-on for maximum data protection.
• User-Friendly Yet Powerful
  • Intuitive interface with advanced automation features like bulk tooling and smart reconciliation.
• Unparalleled Support:
  • 24/7 human support that cares about you and your business’ experience.
  • Priority access for accountants via a dedicated Slack channel.
• Designed for Accountants:
  • Manage all retail and enterprise clients confidently from a single accountant portal.
  • Train staff on one core software for both individual and enterprise clients.

How it works

1. Sign up for an accountant portal here.
2. In the Clients page, add your first client using the ‘+ Add New Client’ button and make sure the ‘Client type’ selected is Business.
3. Navigate to the ‘Crypto integrations’ page and import your client’s data, including all past and present exchanges and wallets. (NOTE: You can invite the client to the platform via email (from the Clients page) if you want them to upload their data.)
4. Go to the ‘Accounting integrations’ page and connect your accounting software (Xero or QuickBooks).
5. Select your default accounts from the chart of accounts’ options using the dropdown menu. This will map your transactions to the selected accounts by default UNLESS you have created any ‘Rules’ which overrides this.
6. Identify all unidentified wallet addresses in the Address Book.
7. Create rules to bulk categorize transactions and appropriately map them to their respective ERP accounts. This allows you to create granular assignments.
8. Reconcile outstanding transactions in the Review page, ensuring they are accurately tagged and there are no data gaps.
9. Once everything is reviewed, go to the Reports page and download the required statements for reporting.

NOTE: You can invite the client to the platform via email (from the Clients page) if you want them to upload their data.

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