How to Record Transactions on Tradepal AI

Tradepal AI provides multiple ways to record your financial activities. You can record transactions manually from the web application or use the Tradepal AI WhatsApp assistant to create a transaction using text, images, or voice notes.

You can record activities such as:

• Buy transactions
• Sell transactions
• Deposits
• Withdrawals

The information you provide is used to create a transaction record that becomes part of your Tradepal AI transaction history.

Recording a Transaction on the Web

To manually record a transaction:

1. Open the Transactions section of your Tradepal AI account.
2. Select Add New Transaction.
3. Select the appropriate transaction category.
4. Enter the transaction details.
5. Review the information you entered.
6. Save the transaction.

The information required depends on the type of transaction you are recording.

Recording a Buy or Sell Transaction

Use a Trade transaction when you have bought or sold an asset.

Step 1: Open the Transaction Form

Go to:

Transactions → Add New Transaction → Trade

Select whether the transaction is a Buy or Sell.

Step 2: Enter the Transaction Date

Enter the date on which the trade actually took place.

Use the actual transaction date rather than the date on which you are entering it into Tradepal AI.

This is important because transaction dates can affect transaction history and accounting calculations.

Step 3: Select or Add the Counterparty

Enter the person or business you transacted with.

If the counterparty already exists in your Tradepal AI account, select the existing counterparty to use their saved information.

If the counterparty is new:

1. Select Add Counterparty.
2. Enter the available counterparty information.
3. Select Use Counterparty.

This allows the transaction to be associated with the correct person or business.

Step 4: Select the Currency

Select the currency used to pay or receive value in the transaction.

For example:

• NGN
• USD
• USDT

The currency should match the actual currency used in the transaction.

Step 5: Select the Asset

Select the asset involved in the trade.

Examples include:

• BTC
• ETH
• USDT
• USDC

For a Buy transaction, this is normally the asset you received.

For a Sell transaction, this is normally the asset you sold.

Step 6: Enter the Trade Rate

Enter the actual rate used for the transaction.

For example, if you bought USDT at ₦1,400 per USDT, enter:

₦1,400 / USDT

Do not use a current market rate if it is different from the rate at which the transaction actually took place.

Step 7: Enter the Quantity

Enter the amount of the asset that was bought or sold.

For example:

5,000 USDT

Make sure the quantity represents the actual amount involved in the transaction.

Step 8: Select the Wallet or Account

Select the wallet or account involved in the transaction.

For a Buy transaction, this is generally the wallet receiving the asset.

For a Sell transaction, this is generally the wallet sending the asset.

Step 9: Enter Payment Information

Select or enter the payment method used for the transaction.

Depending on the available options, this may include:

• Bank Transfer
• Cash
• Zelle
• Mobile Money
• Other supported payment methods

Enter the relevant payment details where required.

Step 10: Add Fees

If the transaction involved a fee, enter the applicable fee information.

Recording fees accurately is important because they may be considered in applicable financial calculations.

Step 11: Add Evidence or Notes

You can add supporting information such as:

• Payment screenshots
• Chat screenshots
• Receipts
• Transfer confirmations
• Additional notes

This can help you verify the transaction later.

Step 12: Save the Trade

Review the transaction details carefully.

When everything is correct, select Save Trade.

The transaction will then be added to your transaction history.

Recording a Deposit

Use a Deposit when money or an asset comes into your financial records.

To record a deposit:

1. Go to Transactions.
2. Select Add New Transaction.
3. Select Deposit/Withdrawals.
4. Select Money In.
5. Select the purpose of the deposit.
6. Specify who the money or asset is from.
7. Select whether the deposit is Crypto or Fiat.
8. Enter the required deposit details.
9. Review the information.
10. Save the deposit.

Deposit Purpose

The purpose explains why the money or asset was received.

Depending on your situation, this may include options such as:

• Personal funds
• Funds held for someone
• Loan received
• Gift
• Other supported purposes

Who the Money Is From

Specify the source of the funds, such as:

• Yourself
• A company
• A friend
• A client
• Another supported source

The remaining information depends on whether you selected Crypto or Fiat.

Recording a Withdrawal

Use a Withdrawal when money or an asset leaves your financial records.

To record a withdrawal:

1. Go to Transactions.
2. Select Add New Transaction.
3. Select Deposit/Withdrawals.
4. Select Money Out.
5. Select the purpose of the withdrawal.
6. Specify who the money or asset is for.
7. Enter the required withdrawal details.
8. Review the information.
9. Save the withdrawal.

Withdrawal Purpose

The purpose explains why the money or asset was sent.

Examples include:

• Return of funds to owner
• Loan repayment
• Other supported purposes

Who the Money Is For

Specify the recipient or destination of the funds, such as:

• Yourself
• A company
• A client
• A friend
• Another supported recipient

Recording a Converted Asset

When you exchange one asset for another, the activity should be properly represented in your transaction records.

For example:

Record the original transaction and use the applicable Convert option where available to represent the resulting asset.

The conversion process allows Tradepal AI to maintain a clearer record of how one asset was exchanged for another.

Detailed instructions for transaction conversions are provided in the Understanding Transaction Conversions guide.

What to Check Before Saving

Before saving any transaction, verify the important details.

Check that:

• The transaction type is correct.
• The transaction date is correct.
• The asset is correct.
• The quantity is correct.
• The currency is correct.
• The actual transaction rate is correct.
• The counterparty is correct.
• Payment information is correct.
• Fees are correctly recorded.
• Supporting evidence is attached where necessary.

This is particularly important because transaction information can be used later for profit and loss calculations, asset tracking, reporting, and other financial information.

Important Note

Tradepal AI records your financial activities; it does not execute them.

For example, recording a USDT purchase does not cause Tradepal AI to send the payment or transfer the USDT. The transaction should represent an activity that you have carried out and want to record and manage on Tradepal AI.