❓FAQs -2
Q: Does a fee contact need to be selected in Bitwave for a wallet to be associated with a fee in an internal transfer?
🅰️:
Yes, selecting a fee contact helps associate the fee with the appropriate wallet. Without this, the wallet paying the fee may not be identified correctly in reports like the Actions Report.
Q: Why did updating the Inventory View cause a sudden spike in errors?
🅰️:
This can happen if transactions were modified or recategorized while the view was outdated. Once updated, the system may reflect all underlying issues accurately. It's best to rerun the view after any significant categorization changes and review any errors that surface.
Q: How do I update the Inventory View in Bitwave to the latest date?
🅰️:
To refresh the Inventory View to reflect the latest data, click the "Update Now" button located in the Inventory interface. This ensures that newly synced or categorized transactions are included in your view and reports.
Q: Is there a process guide for using inventory views reports like Lots or Cost Basis Rollforward instead of the Gain/Loss report?
🅰️:
Yes, Bitwave has documentation that covers using newer inventory view reports. Key references include the Cost Basis Summary from Inventory Views and the Cost Basis Rollforward report. These documents explain how to analyze cost basis and valuation data using updated tools, which are expected to eventually replace the Gain/Loss report.
Q: How do I calculate FMV by reconciling cost basis and unrealized gains/losses?
🅰️:
To reconcile the fair market value (FMV) of your assets at period end, start with the cumulative cost basis, add unrealized gains, and subtract unrealized losses. The total should align with the FMV shown in the balance report. Use the Cost Basis Rollforward report to determine the cumulative cost basis for the selected period.
Q: Which report should I use to determine the ending cost basis for a period?
🅰️:
"Use the Cost Basis Rollforward report. Select the relevant date range, and the report will show how the cost basis changed during that period. The ending cost basis as of your chosen end date reflects the cumulative valuation up to that point.
You can also refer to the dashboard for getting the ending cost basis of a specific token"
Q: Does the start date in the Cost Basis Rollforward report affect the ending cost basis value?
🅰️:
Yes, the start date determines the beginning point for the cost basis calculation. The report shows how the cost basis evolved between the start and end dates. To get the ending cost basis for a specific period, set the appropriate end date, and ensure the start date captures the relevant transaction history.
Q: Where can I find the unrealized gain/loss (FMV) values from the Cost Basis Rollforward report in Bitwave?
🅰️:
To view unrealized gain/loss (which reflects FMV differences) in the Cost Basis Rollforward dashboard, check the "Include FMV" box. While this data is shown in the UI, it may not appear in the standard CSV export. To access the unrealized gain/loss in a downloadable format, use the "Download Summary" option from the dashboard instead.
Q: Is there a way to mark asset mismatch errors as resolved if they’ve been reviewed and approved?
🅰️:
While Bitwave doesn’t currently have a “mark as resolved” feature for asset mismatch errors, you can manage these by ensuring all necessary transactions are visible (e.g., not ignored) and confirming the balances match expected values. If the error is understood and accepted, you can maintain documentation noting the sign-off and rationale.
Q: What should I do if the Inventory Report and transaction data are inconsistent?
🅰️:
Ensure all transactions are properly categorized and synced. Discrepancies might stem from transactions not being accepted or errors in categorization. Contact support if the issue persists.
Q: What does the error "More than one imputed fee found on txn" mean in Inventory Views?
🅰️:
This error indicates that a transaction has been assigned multiple imputed fees, which Bitwave does not support. To resolve this, uncategorize the transaction and then recategorize it to reset the fee assignments.
Q: Why does the Inventory Views Action Report show a different acquisition rate than what I see on the Bitwave platform?
🅰️:
This discrepancy can occur due to a mismatch or delay in pricing data application across the platform and the downloadable reports. In this case, Bitwave support resolved the issue on the backend, and the rates aligned afterward. Users typically do not need to take any action beyond re-downloading the updated report or refreshing the platform view.
Q: Do I need to take any steps after Bitwave support fixes a pricing issue in the Inventory report?
🅰️:
No user action is usually required. Once the issue is resolved by support, the updated pricing data should automatically reflect both in the platform and in the reports. It’s good practice to recheck the affected transactions and re-download the report to confirm the correction.
Q: Why does the Inventory View show a negative USDC balance while the Balance Report shows a positive balance?
🅰️:
This issue can occur if the Inventory View hasn’t fully updated. Click "Update Now" to refresh it. If the balance still appears incorrect after multiple attempts and time has passed, contact support—it may require backend intervention to resolve.
Q: Why is my USDC balance in Inventory Views much higher than what I see in my wallet or balance report?
🅰️:
This may be caused by missing or miscategorized transactions that affect inventory calculations. In some cases, Bitwave may show inflated quantities due to a transaction that wasn't categorized correctly. Support can assist by resyncing the wallet or manually importing missing transactions. Re-categorizing problematic transactions and refreshing the Inventory Views may resolve the discrepancy.
Q: How do I fix a balance mismatch caused by a specific transaction in Bitwave?
🅰️:
If a transaction is identified as causing a mismatch, re-categorizing it with the same category and then refreshing the Inventory Views may resolve the issue. Bitwave support may also need to assist with identifying and importing any missing transactions.
Q: How do I change the engine version in Bitwave?
🅰️:
"To update your Bitwave engine version:
Go to administration > Organization > Engine version and change to the latest one"
Q: What should I do if transactions involving wrapped tokens cause errors in my Inventory View?
🅰️:
If a wrapped token is mistakenly associated with multiple underlying tokens, Bitwave may not process the inventory correctly. You need to choose one correct wrap pairing and remove the other. Then, re-categorize any flagged transactions and refresh the view. Go to Administration > Organization and set Bitwave engine version to v2.2. Delete your current Inventory View and create a new one with engine version v2.2 selected.This ensures compatibility and proper functioning of the Inventory dashboard and reports.
Q: Why are categorized ARB-USDC transactions showing as uncategorized in Inventory Views?
🅰️:
This can happen due to a sync issue or change in how the Inventory View processes updated transactions. Even if a transaction is categorized in the Transactions UI, the Inventory View may not reflect the update unless manually refreshed. In such cases, rechecking the categorization and updating or recreating the Inventory View may help resolve the issue.
Q: Why is the ezETH (Renzo Restaked ETH) balance in my Bitwave Balance Report different from Etherscan and Inventory Views?
🅰️:
This may have happened due to missing transactions which is causing discrapencies in the balances of renzo restaked eth. You can contact support team for more information on this one
Q: Can I apply different cost basIs to portions of the same staking reward in Bitwave?
🅰️:
Bitwave does not currently support assigning different cost bases to portions of the same transaction directly. If you need to apply separate rates or categories, the recommended workaround is to ignore the original transaction and create two or more manual entries that reflect the different categories and cost bases. This ensures accurate balance and gain/loss reporting.
Q: What does the “Unable to map value” error mean in Inventory Views?
🅰️:
This error typically occurs when Bitwave cannot identify or categorize a value within a transaction, often due to data inconsistencies. If correcting one transaction leads to new errors on others, it may indicate a broader mapping issue. Reverting to a previous Inventory View version can help, or contact support for engineering assistance.
Q: How can I ensure my inventory view is updated to reflect current values?
🅰️:
To update your inventory view in Bitwave, use the "Update Now" button within the inventory module. This action syncs the view with the latest available data. For accurate reporting, especially in cost basis reports, ensure this step is performed regularly.
Q: How do I get realized and unrealized gain/loss data from inventory views?
🅰️:
Realized and unrealized gains/losses can be extracted through the Inventory View module. Use the reports outlined in Bitwave's gain/loss documentation and follow the cell notes in the period-end reconciliation template to identify data sources.
Q: What should I do if Bitwave's reconciliation templates have changed and lack formulas?
🅰️:
"Bitwave has updated its reconciliation templates, and newer versions may not contain the same formulas as previous ones. Refer to the latest documentation and embedded cell notes to navigate the updated format. If needed, contact support for guidance on adapting to the new templates.
You can refer to this sheet : Period End Close - Bitwave 2024"
Q: Why does a transaction appear categorized in the transaction view but uncategorized in the inventory screen?
🅰️:
This discrepancy is usually due to the inventory view not being updated. Use the “Update Now” button to refresh the inventory view to the latest state. After a short wait, the categorized status should sync correctly.
Q: How do I set up gain/loss information using the inventory view in Bitwave?
🅰️:
To set up gain/loss reporting, use Bitwave's Inventory View tools and period-end reconciliation template. Helpful documentation includes the Inventory Views guide, Inventory Views Reporting, and Record Realized Gain/Loss. Reports can be found via Reports and Period-End Close.
Q: Why am I seeing errors in the Inventory View even though transactions are categorized and reconciled?
🅰️:
Inventory View errors can appear due to transactions with spam or invalid data. These can often be resolved by ignoring problematic transactions or refreshing the Inventory View using the “Update Now” button.
Q: What should I do if a transaction error persists in the Inventory View after reconciliation?
🅰️:
First, identify the transaction causing the issue (often visible by clicking on “Actions”). If it's spam or irrelevant, mark it as ignored. Then, refresh the Inventory View. If errors persist, try uncategorizing and recategorizing the transaction to reset its status.
Q: Do I need to upgrade my Bitwave account to create new Inventory Views?
🅰️:
Yes, creating new Inventory Views may require an upgrade. Contact the Account Management team for details regarding additional costs or changes to your plan.
Q: Why are certain tokens like USDC showing a negative balance in inventory?
🅰️:
Negative balances can result from incorrect categorizations or missing deposits. Bitwave support may identify the affected transactions, and users should un-reconcile, un-categorize, and re-categorize them correctly (e.g., internal transfer with fee contact, trade with fee, or standard with gain/loss adjustments).
Q: What is a spam token (e.g., USDC-78) and how does it affect inventory?
🅰️:
Spam tokens like USDC-78 are often airdropped or appear without real value. They can cause negative balances or distort reports. If identified as spam, they may be ignored or excluded from financial reports.
Q: What does it mean if Unrealized Gain/Loss is negative in Bitwave?
🅰️:
A negative Unrealized Gain/Loss can occur if the current value of a token is less than its cost basis. This is normal for assets that have declined in value. If the data appears incorrect, review the cost basis and transaction history.
Q: Why is a token balance appearing in the Balance Report when there are no corresponding transactions in the wallet or inventory view?
🅰️:
If a token like SOL-SRAY appears in the Balance Report without visible transactions in the wallet or inventory view, it may be due to an inconsistency in the imported or synced data. This could involve a missing or incorrect transaction not displayed in the UI. Support may need to be added to the organization to investigate backend discrepancies. Providing a screenshot and wallet details can expedite resolution.
Q: How can I view impairment calculations in Bitwave?
🅰️:
To view impairment, create a new Inventory View and select a valuation strategy that supports impairment, such as “GAAP Impairment.” This won’t affect other views or reporting. You can delete this view later if needed under Settings > Advanced.
Q: Can I set up FIFO by wallet in Inventory Views?
🅰️:
Yes, you can configure FIFO at the wallet level by enabling both the “Multiple Inventory Views” and “Wallet-Level Inventory” features. This setup allows you to create separate FIFO inventory views per wallet, which is useful for granular accounting and gain/loss tracking.
Q: How do I generate a gain or loss report using the Inventory View in Bitwave?
🅰️:
"First, ensure your Inventory View settings are configured correctly. Once set, access the Inventory View dashboard, where you will see report download options. If you encounter errors, download the Actions Report to investigate further.
Refer to this documentation for more details : https://docs.bitwave.io/docs/inventory-views"
Q: What should I do if the gain or loss report in Inventory View shows errors?
🅰️:
Download the Actions Report and look for the "Error" column. Filter for rows with errors to identify problematic transactions. You can also check the earliest date with an error to locate the root cause.
Q: What should I do if the Inventory View shows errors due to ignored transactions?
🅰️:
Inventory views never considers ignored transactions. This may have happened because the inventory views might not have been updated. Please click on update and check the status. If the problem still exists, please contact the bitwave support team
Q: Does Inventory View update in real time when I book or reconcile a trade?
🅰️:
Inventory View does not update in real time. After categorizing or reconciling a trade, you must manually click “Update Now” in the Inventory View. Even if the update timestamp doesn’t change, running the update ensures that the latest data is processed and displayed.
Q: What if clicking “Update Now” doesn’t refresh my Inventory View data?
🅰️:
If the Inventory View data doesn’t update immediately after clicking “Update Now,” wait a few moments and try again. The update timestamp might not refresh visually, but the backend process should still complete.
Q: Can Bitwave’s Inventory Dashboard display total unrealized gain/loss values?
🅰️:
In the dashboard report, The 7th column UNREALIZED Gain/Loss column shows every token's unrealized gain and loss and the sum total of unrealized gain/loss at the last row
Q: Can I hide zero balance tokens in the Inventory Dashboard?
🅰️:
Hiding zero balance tokens is not currently available on the Inventory Dashboard. This has been suggested to the Bitwave product team as a potential enhancement.
Q: How do I set up inventory views for the Gain/Loss report?
🅰️:
To set up inventory views for the Gain/Loss report, Bitwave provides a walkthrough video that guides you through the process: Inventory Views Setup Walkthrough. Watching the video will help ensure your inventory data is configured correctly for gain/loss calculations.
Q: How do I use the Inventory View report in Bitwave?
🅰️:
"Use the Inventory View Dashboard, filter by date, and ensure a green status for accurate data. You'll find FMV and unrealized gain columns to assess portfolio performance. You can export this data for further analysis in Excel.
You can refer to this documentation for more understanding :
https://docs.bitwave.io/docs/inventory-views"
Q: Why isn't cost basis relieved correctly for a token disposal when using Inventory Groups?
🅰️:
When using Inventory Groups, Bitwave tracks token quantities at the individual inventory level instead of entity-wide. If the disposing inventory lacks sufficient token quantity—even if there is enough overall—the system cannot relieve cost basis for the full amount. Ensure the inventory has enough available tokens for the disposal or adjust the inventory setup.
Updated 3 days ago