Recap identifies two balance’s for each account you connect:
The exchange balance - reported by the exchange when it is synced
The Recap balance - calculated based on the transactions that are imported
This Balance Differences error message will be displayed on an account card if your exchange reports asset balances that do not match those calculated by Recap from your transaction history.
Sometimes, balance differences can be very minor and can be caused by simple things like rounding. Other times, the error indicates that there are missing transactions or inaccurate data which may affect your capital gains/losses.
How to check and resolve balance differences
Click the Balances tab within the account card to view and compare your Exchange Balance to Recap Balance for each asset.
Here's a summary of the most common reasons for your balance to be incorrect and how to solve this…
Exchanges Can Return Incomplete Data
Recap integrates directly with your exchange via a read-only API. Unfortunately, some exchanges do not make all of your data available via their API or return incomplete data. This can result in missing transactions or an incomplete transaction, for example, with missing fees.
For some exchanges e.g. Binance, you can fill the gaps by importing additional exported CSV data from the exchange - simply click the cog on the account card and follow the instructions to upload.
If the exchange doesn't support this functionality, you can fill in the gaps by adding manual transactions from the Activity screen. Download your full transaction history from your exchange and compare to the data in Recap to see which transactions you need to add.
Unidentified Assets
When your data is imported into Recap we automatically identify the assets involved in a transaction by using the currency codes in the transaction data. At Recap, we have curated our own reference data with comprehensive mappings for supported exchanges and pricing providers.
This ensures assets can be correctly identified and matched to accurate pricing.
Sometimes we are unable to automatically identify an asset and this can cause your balances to be different. You can learn more about unidentified assets and how to fix this problem here.
Minor Balance Differences
Your balances may only have very small differences e.g. the difference of a penny in actual value. When this is the case, you can simply ignore the balance difference errors.
You can update your account settings to remove the balance difference errors that appear on your account card and the warning triangles that appear on your issues tab.