If the Income value for your ledger summary looks high, you may need to exempt some transactions. When a transaction is marked as exempt in NODE40 Balance, it is removed from the income calculation. This is common for transactions where you purchased the asset as an investment. As opposed to receiving the income in exchange for a good or service.
Click the Ledger tab and select a transaction to expand the details. To mark a transaction as exempt, toggle the Exempt option. A flag will appear in the Incoming column so you can easily scan for transactions that have been marked as exempt.
While reconciling your ledgers it is important to be consistent and reasonable in your adjustments. Comments and description notes are great details that will carry over in the Capital Gains Report worksheet NODE40 Balance generates with the IRS 8949 form.