If you've been accepting Bitcoin payments at your business, congratulations — you're ahead of the curve. But Bitcoin payments are taxable income, and come tax time, you'll need to report them accurately. Manually combing through payment records and looking up historical exchange rates is a miserable afternoon nobody wants to have.

That's what Koinly is for. It's a crypto tax platform that automatically calculates your income, figures out the USD value of each payment at the time it was received, and generates a clean report you can hand to your accountant — or use to file yourself. This guide walks you through setting it up from scratch, specifically for a small business that accepts Bitcoin through OrangeTill.

🐱 Hodl's note

This guide covers the setup process as of early 2026. Koinly's interface may update from time to time — if a screen looks slightly different, the steps are usually still the same, just in a slightly different spot.

Before you start — what you'll need

You don't need much. Before you open Koinly, have the following ready:

What to have on hand

Your OrangeTill Koinly CSV export — go to the History tab in OrangeTill and tap the Koinly button to download it. This file contains all your logged payments in a format Koinly understands.

Your Bitcoin wallet address(es) — the receiving addresses you have set up in OrangeTill Settings. You'll use these to connect your wallets directly to Koinly for automatic syncing going forward.

Your business email address — use your business email, not a personal one, so everything stays organized come tax time.

Part 1: Create your Koinly account

1
Go to Koinly and create an account
Head to koinly.io and click Sign Up. Enter your business email address and create a password. Koinly will send you a confirmation email — click the link in it to verify your account before moving on.
2
Choose "Business" as your account type
During setup, Koinly will ask whether you're an individual, a business, or an accountant. Select Business. This ensures your reports are structured correctly for business income rather than personal capital gains — an important distinction for how Bitcoin payments get classified.
3
Set your home country and base currency
Select United States as your home country and USD as your base currency. This tells Koinly to calculate all valuations in US dollars and generate reports that match IRS requirements. If you're outside the US, select your own country — Koinly supports 20+ countries.
4
Select "Tax reports + portfolio tracking"
When asked what you want to use Koinly for, choose Tax reports + portfolio tracking. This unlocks the full feature set you'll need, including the income report your accountant will want.

Part 2: Import your OrangeTill payment history

This is where OrangeTill and Koinly connect. There are two ways to get your payment data into Koinly — a one-time CSV import for your existing history, and ongoing wallet sync for future payments. You'll want to do both.

Step A — Import your existing history via CSV

5
Export your Koinly CSV from OrangeTill
Open OrangeTill and go to the History tab. In the top right, tap the Koinly export button (next to the regular CSV button). A date range selector will appear — for your full tax year, tap All Time, or set a custom start and end date for a specific period. Then tap Export to download the file. It’s pre-formatted specifically for Koinly — each payment is tagged as income with the USD value at the time of sale, the coin type, and the date. Save this file somewhere you can find it.
6
Add a wallet in Koinly and import the CSV
In Koinly, click Wallets in the top navigation, then click Add Wallet. Search for "Custom CSV" or scroll to find it under the manual import options. Click it, then upload the CSV file you just downloaded from OrangeTill. Koinly will read through the file and import all your transactions automatically. Give the wallet a clear name like "OrangeTill — Bitcoin" or "OrangeTill — All Coins" so you can identify it easily later.
✓ What just happened

Koinly now has a record of every Bitcoin payment you've logged in OrangeTill — with the correct USD value at the time of each transaction. This is the foundation of your tax report. You can check the Transactions tab to confirm everything imported correctly.

Step B — Connect your wallet for ongoing sync

The CSV import covers your past payments, but going forward it's much easier to connect your wallet address directly so Koinly syncs new transactions automatically.

7
Add your receiving wallet address(es)
In Koinly, go to Wallets → Add Wallet again. This time, search for the specific coin — for example, search "Bitcoin" for your BTC wallet. Select it, then paste in your Bitcoin receiving address from OrangeTill Settings. Repeat this for each coin you accept.

Once connected, Koinly will automatically pull in new transactions from the blockchain every time someone pays you. No more manual exports needed — it just happens in the background.
🐱 Hodl's note

Your wallet address is not the same as your seed phrase or private key. Your address is safe to share — it's how people send you money. Your seed phrase and private key are never shared with anyone, ever. Koinly only needs your public address to read your transaction history.

Part 3: Review your transactions

8
Go to Transactions and check for warnings
Click Transactions in the top nav. Koinly will show you every imported transaction. Look for any yellow warning icons — these usually indicate a missing cost basis or an unrecognized transaction type. For merchant payment income, most transactions should automatically be tagged as Income, which is correct.
9
Make sure each payment is tagged as "Income"
Click into any transaction and check the Label field. For payments you received from customers, the label should say Income. If it says something else (like "Received" or is blank), click the label and change it to Income. The OrangeTill Koinly CSV export does this automatically — but it's good to spot-check a few entries to confirm everything looks right.
Why "Income" matters

The IRS treats crypto received as payment for goods or services as ordinary income — taxed the same as if a customer paid you in cash. Labeling transactions as Income (rather than capital gains) ensures Koinly calculates your tax liability correctly and puts the amounts in the right place on your tax report.

Part 4: Generate your tax report

10
Go to Tax Reports
Click Tax Reports in the top navigation. Select the tax year you want to report on. Koinly will calculate your total crypto income for that year, broken down by transaction. You'll see a summary showing total income received, the USD value at time of receipt, and any gains or losses if you held and later converted any crypto.
11
Download the report your accountant needs
Koinly offers several report formats. For most small business owners working with an accountant, the most useful is the Income Report — a clean summary of all crypto income received during the year with USD values. Download it as a PDF or CSV. If your accountant uses specific tax software, Koinly also exports in TurboTax, TaxAct, and several other formats — check the Tax Reports page for the full list.

Hand this report to your accountant along with your other business income records and you're done.
✓ You're set up

From here on out, Koinly will automatically sync new payments from your connected wallet addresses. At the end of each tax year, just go to Tax Reports and download your income report. The whole process takes about five minutes once you're set up.

A few things worth knowing

Free vs. paid plans. Koinly's free plan lets you import transactions and review them, but downloading a tax report requires a paid plan. Pricing is per tax year — you only need to pay when you're ready to download your report at tax time, not year-round. For most small merchants, the Newbie or Hodler plan is plenty.

Keep your OrangeTill records too. Koinly is excellent, but it's good practice to also keep your OrangeTill CSV exports as a backup. Export at least once a month and save them somewhere safe — a folder in Google Drive works perfectly. Think of Koinly as your tax calculator and OrangeTill as your receipt book.

Talk to your accountant. This guide gives you the setup and the tools, but tax law is specific to your situation. If you have questions about how to report crypto income on your business taxes, bring your Koinly report to your accountant. They may not know Koinly, but they'll recognize the numbers on the income report immediately.

🐱 Hodl's note

If your accountant has never dealt with crypto before, our article How to talk to your accountant about accepting Bitcoin is a good primer to share with them — or to read yourself before the meeting.

Ready to get your Bitcoin taxes sorted?
Set up Koinly in about 20 minutes.
Create your free Koinly account, import your OrangeTill payment history, and have a clean tax report ready for your accountant. You only pay when you need to download your report at tax time.
Get started with Koinly →