How to record bitcoin in QuickBooks Online
A bitcoin purchase in QuickBooks Online is a balanced journal entry. The steps below use the same sample as the QuickBooks page, journal #BR-0142.
Set up an asset account
Create an Other Current Asset account for the bitcoin the business holds. The sample uses Bitcoin Held. Use that account, or the asset account already on your chart of accounts, on every purchase. Do not post the bitcoin to an income account.
The journal entry for a purchase
Debit the bitcoin asset for the bitcoin acquired. Debit a fee account for the purchase fees. Credit checking for the cash that left the bank. Debits equal credits. In #BR-0142 the cash credit is $2,000.00, the bitcoin asset debit is $1,970.00, and the fee debit is $30.00.
Journal Entry #BR-0142
Monthly bitcoin buy · $2,000 total cash
| Account | Debit | Credit |
|---|---|---|
| Bitcoin Holdings (Other Asset) | 1,970.00 | |
| Bitcoin Transaction Fees (BitReserve + Strike) | 30.00 | |
| Business Checking (Bank) | 2,000.00 | |
| Totals | 2,000.00 | 2,000.00 |
Posted automatically by BitReserve · Jul 1, 2026
Balanced ✓
Cost basis per purchase
Keep a separate cost for each purchase. In #BR-0142 the bitcoin asset line is $1,970.00. Save the date, the cash paid, the fee, and the bitcoin amount with that entry so a later sale can be matched to this purchase. Your CPA decides whether the fee is part of tax basis.
Fees
The fee line is the cash that did not buy bitcoin. In this example that is $30.00: a $20 BitReserve fee and a $10 Strike trading fee. The Strike fee can differ on the day the buy settles. 1% per buy and sell. No monthly fee. Strike fees apply.
Fair value under ASU 2023-08
ASU 2023-08 can require a later fair-value measurement for certain crypto assets, with the change in fair value recorded in net income. That measurement is separate from the purchase entry above. Read Bitcoin and accounting for a short overview of the standard.
Check with your CPA
Check with your CPA. This page describes a bookkeeping entry. It is not tax, audit, or investment advice.