Catalyst Onboarded Companies Playbook
  • Introduction
  • Contents
  • Part 1: Terms and conditions of your funding
    • Where your funding comes from
    • How much you got funded and how it gets distributed
    • Phase 1: Onboarding, Proof of Life and Test Transaction
      • Proof of Life (PoL)
    • Phase 2: Project Delivery and Regular Reporting
    • Phase 3: Close-out Report and Video
    • Expected return (or why you got funding)
  • Part 2: Using the funding
    • Before you start
    • Open a wallet
      • What you need to know about wallets
      • Keeping your seed phrases safe
      • Multi-signature (multisig) wallets
      • Hardware Wallets
      • Risk list: Why not to store your ADA on an exchange
      • Video links about wallets
      • The case for lace.io
    • Converting from ADA to your currency
    • Converting from ADA to a stablecoin
      • Djed stable coin
      • Converting your ADA to stablecoin on a Cardano DEX
      • List of DEXs
  • Part 3: Accounting and Reporting
    • First steps to tracking funds
    • Keeping track of your funds
    • Accounting for funds recieved
    • Tools to help with taxes
    • Plan ahead to mitigate loss due to volatility
    • Reporting
  • Part 4: Community Support
    • Technical support
    • Telegram groups
    • Challenge Teams
    • Coordinator meetings
    • Project Catalyst Team – how they can help
    • Project Catalyst Team contacts
    • Get help from the Treasury Guild
  • Part 5: Cardano Business Technologies
    • Overview
    • Understanding Cardano Blockchain Technology
    • Programming on Cardano
  • About Cardano Smarthubs
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  1. Part 3: Accounting and Reporting

Accounting for funds recieved

You are being renumerated for work on your project from the Cardano Treasury so there in no-one and no organisation to invoice. Here's record the funds arriving in your business account.

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Last updated 2 years ago

Record the funds arriving in your business account without issuing an invoice by;

  1. Setting up a record-keeping system (see ) Have a system in place to keep track of all financial transactions related to your business, including incoming payments.

  2. Create a receipt or statement Even if there is no invoice, create a receipt or statement to document the payment. This should include the date, amount, and source of the payment, i.e.; Cardano Treasury.

  3. Categorize the payment Assign the payment to the appropriate account in your record-keeping system, such as “income” or “revenue.”

  4. Reconcile your accounts

    Make sure that the payment is reflected accurately in your business account by reconciling it with your bank statement.

*Different countries and jurisdictions may have different rules and regulations regarding cryptocurrency and its taxation. It is recommended that you consult with a financial advisor or accountant to ensure that you are complying with all applicable laws and regulations.

'Keeping track of your funds'