Crypto-transactions accounting?

My business is using a site for certain services where the only payment option is by crypto. We can upload any amount of credit to our account there and then use that, we don’t have to pay separately for every purchase. Obviously first we need to buy the crypto, then transfer that to this site so we get a certain amount of credit. We do these at the same time so there are no drops in the value of the crypto. If the crypto is bought with the director’s own debit card for example, is it possible to simply account for the amount paid into this site as a business expense paid from the director’s loan account and thus ignoring the crypto transaction? As far as I know people usually don’t take into account how did the director paid for a business expense from his/her own pocket (whether it was by credit card, cash, etc.) when they do the accounting for it, only the amount payed. If not, how can we account for this?
Thanks for your help in advance

Hello @David_Bernhardt

You are better off querying this with your accountant for professional tailored advice.

The support team are not registered accountants nor bookkeepers and could not help on this occasion.

You should probably take advice from an accountant. If the director is buying crypto entirely for business use, then the crypto should be recognised as a business asset, and any gains or losses on that asset would subsequently be reflected in the business’s accounts.

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