At TRES, we’re dedicated to empowering businesses with reliable blockchain data while providing maximum flexibility and ease of use for your financial operations. That’s why we’re excited to announce the launch of SPEC ID for Maximizing Gains—a new addition to our cost-basis options, further enhancing the flexibility of TRES FinOS. With this feature, users can now take full control of their cost-basis, especially in the fast-evolving crypto market where efficiency and agility are critical.
A Market-First Approach to Flexible Cost-Basis Calculation
In addition to FiFo, Weighted Average, and HiFo, TRES FinOS now supports SPEC ID with an automated setting designed to maximize gains. SPEC ID has traditionally introduced complexity, particularly for users managing thousands of transactions.
To solve this, TRES has developed automated cost-basis strategies, offering users the simplicity of a pre-defined methodology within SPEC ID. The introduction of Maximize Gains marks a first for TRES and the blockchain accounting market. By prioritizing the selection of the lowest-cost assets, our clients can now optimize their gains.
Seamless Setup for SPEC ID
Implementing SPEC ID with TRES FinOS is incredibly straightforward. Users can activate this feature directly from the Settings page on the TRES platform. From there, simply select SPEC ID: Maximize Gains as your preferred cost-basis method. You also have the option to apply the calculation per asset or per wallet, giving you even more granular control over your financial reporting.
With just a few clicks, TRES FinOS will automatically recalculate your cost basis by ordering your asset purchases from lowest to highest, enabling you to benefit from the SPEC ID: Maximize Gains methodology right away.
Experience the Full Power of TRES FinOS
The launch of SPEC ID further enhances the flexibility of TRES’s accounting offerings. Our platform’s commitment to flexibility and precision allows you to confidently navigate the complexities of the crypto space, knowing that your data is always optimized for your specific needs.
Activate SPEC ID to maximize gains today and take control of your tax strategy with TRES FinOS.
Interested in TRES?
