Cryptoworth has released a Simple Agreement for Future Tokens module to track vesting schedules and easily record these investments into any general ledger.
Cryptoworth, a leader in cryptocurrency accounting software, has just unveiled its SAFT (Simple Agreement for Future Tokens) module, marking a new advancement in crypto accounting workflow. This latest module simplifies the complexities associated with managing SAFT investments, setting a new standard in the field of crypt accounting software.
“As a long time user of Cryptoworth, I am particularly excited about the introduction of the SAFT module. The manual approach is prone to changes and can be time-consuming when comparing actual versus expected. The incorporation of the SAFT module has notably enhanced the ease of reconciliation” – Hank Wei, Chief Financial Officer of IVC
What is SAFT?
The SAFT is the acronym for Simple Agreement for Future Tokens. It allows investors to finance a tokenized project in its early stages, with the promise of receiving tokens at a later date. This approach has not only unlocked new investment avenues but also presented unique challenges in accounting and compliance. Understanding how to track SAFT is crucial for anyone involved in digital asset investment.
What is Cryptoworth’s SAFT tracking module?
Cryptoworth’s module is the latest development in the crypto accounting solution space. Designed to address the intricate challenges of managing Simple Agreement for Future Tokens, this module streamlines the process, enabling organizations to handle all their investments in a single space, improving efficiency and accuracy.
The SAFT module offers improvements over traditional methods of managing SAFT investments. Its automated features reduce time and effort, enhancing data-completeness of financial reports, that were previously unattainable with the spreadsheet antecessor, prone to manual errors.
Streamlining crypto accounting processes
The SAFT module significantly reduces the need for switching between multiple tools, offering accountants and bookkeepers a more efficient workflow. With fewer tabs to navigate, professionals can save time and focus on more critical tasks.
Cryptoworth’s new module serves as a comprehensive solution for crypto asset accounting, AR/AP, treasury management, and now, SAFT tracking. This consolidation provides users with a single, reliable source for all financial records, enhancing the overall accounting process.
Key features include:
– investment stage tracking.
– potential return calculations.
– native integration with financial reports.
Integration with any general ledger
The distinguishing feature of Cryptoworth’s SAFT module is its native integration within this Crypto Accounting Subledger. The integration allows accountants to seamlessly connect the data from this module with their preferred ERP or general ledger, ensuring that all blockchain finance data is accessible under one roof.
The module’s compatibility with existing accounting systems makes it an indispensable tool for any organization involved in cryptocurrency.
Security and certified compliance
All data within the SAFT module is protected under Cryptoworth’s robust SOC 2 Type 2 compliance standards, ensuring the highest level of security for user information.
Conclusion
The SAFT module is designed to evolve and scale based on user feedback. Early adopters have the opportunity to propose new features, driving continuous upgrades and development.
Cryptoworth’s SAFT module enhances its digital asset accounting software, offering multiple integrations, efficiency, security, and scalability. It helps driving forward the blockchain finance management.
About Cryptoworth:
Cryptoworth is a frontrunner in crypto accounting software, committed to streamlining the financial management of digital assets. The platform is tailored for bookkeepers, CPAs, CAs, and CFOs, offering a straightforward solution for complex digital financial tasks. It integrates seamlessly with all blockchains, exchanges, and custody providers, delivering comprehensive financial reports and user-friendly asset management. Cryptoworth’s platform enhances popular accounting systems with easy-to-use syncing capabilities. This crypto sub-ledger simplifies month-end processes and provides reliable data, making digital asset management accessible for professionals in the crypto asset space.
For more information, please contact Cryptoworth (https://cryptoworth.com/)
Email: support@cryptoworth.app
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Website: https://cryptoworth.com/