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Still can’t get over how much I love [Gnucash](https://gnucash.org/)

Got tons of tiny DCA transactions from your BTC exchange? No problem and no need for laborious data entry.

Just make sure you have accounts that you transferred from setup and an account for the exchange setup, and you’re good to go. Assuming you’ve already setup Bitcoin as a currency of course.

Step 1: Download CSV file of activity from exchange.

Step 2: Import Transactions from CSV

Step 3: It handles the multicurrency transactions seemleesly and allows you to manually modify from here before applying changes.

Go an additional step and import your CSV from your bank account transactions, and watch it reconcile and confirm your btc purchases with ease 🫠

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Discussion

Maria2000 6mo ago

I just saw gnucash in the Mint store and was wondering if it works well. Thanks for posting this.

Creature 6mo ago

Wait. How do you set up for bitcoin in Gnucash? When I looked for it as a currency it wasn't there.

⚡️DEFAUXKING⚡️ 6mo ago

Add Bitcoin to GnuCash

To add Bitcoin as a currency in GnuCash, you cannot directly add it as a standard currency because GnuCash does not support user-defined currencies in the same way as national currencies. However, you can treat Bitcoin as a security or a commodity.

Here's how you can do it:

1.) Create a Security for Bitcoin:

Go to Tools > Security > Add to open the Security Editor.

Enter a full name for the security, such as "Bitcoin".

Use a symbol like "BTC" for the abbreviation.

Set the display symbol to "BTC".

Choose a type, such as "BTC-USD”

Set the fraction traded to as high as possible precision, such as 1/100000000, to maintain accuracy.

Enable the "Get Online Quote" option and select "Yahoo as JSON" as the data source.

2.)Create an Account for Bitcoin:

Create a new account under Assets with the type set to "Mutual Fund" or "Stock".

Set the security/currency to the Bitcoin security you created.

Configure the account to use the commodity value for the smallest fraction.

3.)Record Transactions:

When buying Bitcoin, enter the amount of Bitcoin purchased under "shares" and the price paid under "Price".

Select the "Crypto Account" under "Transfer" for the source of funds.

GnuCash will calculate the USD value and update the account accordingly.

4.) Update Exchange Rates:

Use Tools > Price Database > Get Quotes to update the exchange rates for Bitcoin using online sources like Yahoo Finance.

⚡️DEFAUXKING⚡️ 6mo ago

My experience is with using it on Linux.

So I remember I did have to install some extra packages like Perl-finance-quote or something like that, as well, but at least easy to find and install.

Happy to help more if you run into any problems