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How to Do a Roll Forward on NODE40

How to Do a Roll Forward on NODE40

A roll-forward is a process in which a client would like to use open lots or deposit(s) with an aggregated cost basis and balance to account for a previous tax year’s activity.

You must be using a Managed Account/Profile with “Roll Forward” capabilities enabled. Please reach out to your NODE40 account manager to request this or with any questions.

Before importing any sources, a date to proceed forward from is set, sources are added, then lots must be created to carry over the balance or activity from previous years.

A detailed process on how to accomplish this is as follows:

  1. Set a Roll Forward Date
    (example: 12/31/2024)

  1. Add Sources
    Only transactions after the Roll Forward date set will be imported.

Note: After import, some of the ledgers will have a negative balance. This is expected, as only the activity after the Roll forward date will be imported.

  1. Add Opening Balance Transactions
    This can be done manually, individually in each ledger of each source. Or this can be done via file upload. If you would like to use the file upload method, follow the steps below.

The previous years' token balances/cost basis can be found on the Unrealized gains report or Closing Position Report.

Adding Opening Balances via File Upload

Once you’ve set your roll forward date and imported ALL sources (Note: The Roll Forward opening lot template will not be able available until the SMART Recalculation banner has disappeared), you can now download the template that can be used to upload the Opening Balances:

  1. From the Portfolio Settings Menu, click on “Roll Forward”

    settings.png

 

NODE40 Balance provides a pre-populated template for all the ledgers present in your portfolio. This template may include ledgers for spam tokens. We highly recommend manually reviewing your newly-created ledgers and archiving any spam tokens that were not caught by our spam filter before continuing. How to Ignore/Remove Spam Tokens From a Portfolio

 

  1. Within Portfolio Settings > Roll Forward, click “Generate” next to “Download .CSV template for uploading opening lots.”

  1. Open the template that was generated in excel or google sheets and fill in the following values for each token listed in the sheet: PRICE, TRANSACTION_DATE, FEE_AMOUNT & UNIT (If applicable), HASH, and ADDRESS.
    ONLY If the token is an NFT, fill in: TOKEN_ID, TOKEN_NAME and CONTRACT_ADDRESS

If utilizing a NODE40 Unrealized Gains report, you can retrieve the values for each column:

Price (Column H on Template) = Cost Basis/Token Quantity from Unrealized Gains Report

Do not modify any text/values in the template except for what is listed above. Do not include any thousands separators (commas) in your .CSV or the file will not be accepted.

NOTE: The LEDGER_ID for each row will match the URL of the corresponding ledger page in NODE40

Example:

roll.png

  1. Once you have finished filling in the template, save it as a .CSV.
    From the Roll Forward settings area in NODE40, upload the .CSV file.

  2. The Recalculation banner should appear shortly after you click the upload button. If you do not see this banner, the file was not accepted.

  3. If the file was successful, you should see each transaction from your file within each corresponding ledger in your portfolio. It will be labeled “Manual Entry” as shown below: