If you're seeing an incorrect balance for your Binance account it's likely that we're missing some transactions that cannot be imported through their API including:
OTC trades (Conversions)
Leveraged tokens redemptions
You can download this data from Binance in CSV format and upload it directly to Recap. You will need to do this for all of your historical transactions and at regular intervals moving forward in order to keep your Binance account up to date with future transactions. Follow the step-by-step guide below to do this...
(If you have been completing this process manually until now please check this guide to avoid duplicating data.)
Part 1 - Exporting your data from Binance
In Binance head to the "Wallet" dropdown and select "Fiat and Spot (Deposit and Withdraw)".
Click "Deposit Withdraw History" and you'll be led to Transaction History.
Next, click "Generate All Statements".
In the pop-up that appears in "Range" choose "Customize" and use the calendar to select the date range for your historical data. You may have to download multiple files as Binance has a limit of three months of data per file.
Click the "Generate" button. You'll notice your request appear in the submission list - when your data is ready you will be sent an email containing a link to download it.
💡 Binance are also restrictive with the number of files you can download, so you may be unable to complete this process in one session. Be sure to leave yourself plenty of time when filing your tax return!
Part 2 - Adding the data to your Binance account in Recap
When you receive your data head back to Recap. In the Accounts page hover over the settings cog on your Binance card, then click "Manage Statements".
The Binance Statement Manager will open. Here you can see all the files you have already uploaded and add more.
Click "Browse" to locate your CSV and then click "Import". The modal will close taking you back to Accounts where you will see your data is loading; this may take some time depending on how many transactions you need to add.
Part 3 - Keeping your Binance account updated
You will need to follow the same process (changing the date range) to keep your account updated with future transactions. It is entirely up to you how often you choose to do this but your data and therefore your tax report will not be truly accurate until you do.
Our advice - for efficiency and to avoid duplication errors pick an approach, get into a routine and stay consistent. We recommend using the Custom Date Range selector in Binance's report generator to create one CSV per calendar month to upload to Recap. We find this makes selecting the date range simple and avoids overlapping days which leads to incorrect (duplicate) data.
If you use Recap regularly and want to keep your account more up-to-date you may find smaller date ranges added more frequently work better for you. If you intend to use Recap solely for your tax return then you might choose to generate the CSV statements and upload to Recap once per quarter. If you do this don't forget about Binance's download limits and make sure you leave enough time to download all the files needed.
All the files are listed in the Recap Statement Manager so you can keep on top of all the data you have uploaded here, provided you use recognisable file names.
💡 If you import a new CSV that shares the same name as an existing CSV, Recap assumes it is an update and automatically deletes the old file replacing it with the new one.
Hang on - I've been inputting this manually for months! What should I do now?
Firstly, thank you so much for your patience in using the previous, soul-destroying, manual workaround - we are delighted to say you will be able to use this new feature! However, instead of following the above please follow our guide How to use the Binance CSV Statement Manager without duplicating existing data which talks you through the two approaches:
(Recommended) Delete all manually added Binance data and import your historical and future transactions via the statement manager or
(If you have a lot of transactions to delete) Adopt the new CSV process moving forward i.e. for future transactions only (ensuring that the old and new processes do not overlap by date).
Need more support?
Contact us via support if you would like to chat directly to a member of the team.