rotki vs. Summ

Summ specializes in creating reliable cryptocurrency tax reports tailored for businesses, leveraging robust data validation. The reconciliation system monitors transactions across over 3,500 exchanges, wallets, and blockchains, providing extensive on-chain insights. This ensures that your finance department can effectively manage treasury assets, crypto payroll, intercompany transfers, and cross-chain operations. The rules-based framework seamlessly integrates with accounting platforms like Xero and QuickBooks, aligning transactions with your Chart of Accounts for effortless reconciliation alongside standard financial reporting. Summ is capable of processing millions of transactions and adapts as your business grows. The guided reconciliation process identifies discrepancies, while intelligent suggestions streamline categorization. Each report is designed to be transparent, comprehensible, and defensible, making Summ an ideal choice for both startups and enterprises engaged in multi-chain DeFi activities.

Summ, previously known as Crypto Tax Calculator, is an advanced platform designed for managing crypto taxes and portfolio tracking, catering to users with portfolios that extend beyond simple exchange transactions. Its sophisticated reconciliation engine seamlessly connects with over 3,500 exchanges, wallets, and blockchains, providing extensive support for decentralized finance (DeFi) protocols, decentralized exchanges (DEXs), non-fungible tokens (NFTs), bridges, staking, airdrops, and intricate multi-chain operations. In instances where data is unclear or incomplete, Summ proactively detects inconsistencies, ensuring that every number in your report is justifiable and reliable. By aligning activities across various platforms, Summ generates straightforward, defensible reports that hold up under scrutiny. Key features include the Least Tax First Out method, 1099-DA reconciliation, tax loss harvesting, and documentation that is ready for audits. It also integrates with popular accounting software like TurboTax, Xero, and QuickBooks, and is certified with SOC 2 Type 2 compliance. Users can track their portfolios for free upon registration, with premium plans available that provide comprehensive reporting customized to specific jurisdictions. This platform serves casual investors, active DeFi participants, accounting experts, and businesses alike.

Summ is a specialized cryptocurrency accounting solution designed for industry professionals. It allows users to oversee all clients within a single interface. Its rules-based framework seamlessly integrates with Xero and QuickBooks, aligning cryptocurrency transactions with your Chart of Accounts, ensuring that digital asset activities are incorporated into your existing processes. Assign wallets to known clients, set up automated rules, and easily identify irregularities within client portfolios. The streamlined reconciliation process highlights differences based on their significance, while intelligent recommendations simplify the categorization of various activities such as trades, DeFi transactions, staking, airdrops, NFTs, and more. The reconciliation engine is compatible with over 3,500 exchanges, wallets, and blockchains, ensuring extensive on-chain data coverage and generating robust reports based on verified information. It effectively manages millions of transactions, catering to both solo practitioners and large enterprises. Each report is fully prepared for audits. Additionally, it is SOC 2 Type 2 certified and supports Single Sign-On (SSO). Train your team using a single platform that accommodates both individual and business clients, with professional and enterprise plans available for firms requiring collaborative features and prioritization.

Manage your entire cryptocurrency portfolio effortlessly with Summ. This innovative reconciliation tool seamlessly integrates with over 3,500 exchanges, wallets, and blockchains, providing you with a comprehensive overview of both centralized and decentralized platforms. Summ automatically imports and reconciles all your transactions, ensuring you always have clear insights into your holdings, performance metrics, and unrealized gains or losses. It supports an extensive range of over 300,000 tokens, including DeFi assets, staked tokens, liquidity pool assets, and NFTs, along with robust on-chain tracking that reveals activity often overlooked by other portfolio managers. The intuitive reconciliation process identifies any inconsistencies, while smart suggestions simplify categorization as new transactions occur. Enjoy free portfolio tracking without any import restrictions. For those needing tax reporting, all data is directly integrated into Summ's tax engine, eliminating the need for redundant data entry. Obtain verified information across your entire portfolio and tax reports that are reliable when it counts.

Summ provides reliable cryptocurrency tax reporting based on verified information. Its advanced reconciliation engine monitors transactions from over 3,500 exchanges, wallets, and blockchains, ensuring comprehensive on-chain analysis for decentralized finance (DeFi), decentralized exchanges (DEXs), NFTs, and intricate protocols. The user-friendly reconciliation process identifies inconsistencies while offering intelligent categorization for trades, staking, airdrops, mining, and more. Summ prepares tailored reports for various jurisdictions, addressing capital gains, income, and cost basis calculations using FIFO, LIFO, and HIFO methods. It also features 1099-DA reconciliation to help identify issues before submission. The platform seamlessly integrates with TurboTax, Xero, and QuickBooks. Users can start for free with unlimited imports, while premium plans provide access to complete reporting, tax loss harvesting, and audit-ready documentation that can withstand scrutiny when it counts.

Summ's reconciliation engine offers extensive coverage of on-chain DeFi activities, efficiently analyzing smart contract data to monitor and classify transactions across a multitude of protocols. This encompasses activities such as depositing and withdrawing from liquidity pools, yield farming, lending and borrowing on platforms like Aave and Compound, executing DEX swaps on Uniswap and Curve, bridging transactions between L1 and L2 networks, engaging in staking, and converting wrapped tokens. The platform supports over 3,500 integrations and accurately prices more than 300,000 tokens, including liquidity provider tokens and receipt tokens. Its guided reconciliation process highlights discrepancies, while intelligent suggestions automate categorization. Summ also assesses the tax ramifications of each DeFi transaction, applying the appropriate cost basis and income treatment based on your local regulations, including the Least Tax First Out methodology. Users can import and monitor their data for free, while paid subscriptions provide access to robust DeFi tax reports, opportunities for tax loss harvesting, and documentation suitable for audits.