Electrum
Bitcoin Accounting

Electrum + Clams

xPub

Electrum is a lightweight Bitcoin wallet that has been trusted by the community since 2011. It supports hardware wallets, multisig, and advanced features. Clams tracks your Electrum wallet using your master public key (xPub/zPub). Your private keys never leave Electrum.

What Clams tracks

  • All addresses from your wallet derivation paths
  • Incoming and outgoing transactions
  • Individual UTXOs with cost basis
  • Transaction fees paid
  • Capital gains on each spend

How it works

01

Export master public key from Electrum

In Electrum, go to Wallet > Information to view your master public key (xPub or zPub). Copy it to your clipboard.

02

Add connection in Clams

Create an xPub connection with the Clams CLI. Replace the xpub value in the command below with your master public key.

$ clams connections create --label my-electrum --kind XPub --configuration '{"xpub":"YOUR_XPUB","address_types":["bech32"]}'
03

Sync transaction history

Run the sync command below to discover all addresses and import your full transaction history.

$ clams connections sync --label my-electrum
04

Generate journal entries

Process your imported transactions into accounting journals with the command below.

$ clams journals process

Resources

Electrum documentation

Official Electrum wallet documentation

Frequently asked questions

What data does Clams import from Electrum?

Clams imports all addresses derived from your master public key (xPub/zPub), incoming and outgoing transactions, UTXOs, and calculates cost basis per UTXO.

Does Clams access my private keys?

No. Clams uses watch-only access via your master public key. Your private keys stay in Electrum. The xPub only allows Clams to view addresses and transactions, not spend funds.

Can I track hardware wallet accounts in Electrum?

Yes. If you use Electrum with a hardware wallet like Trezor or Ledger, export the xPub from Electrum and add it to Clams. All transactions are tracked regardless of how you sign.

How do I get capital gains reports from my Electrum transactions?

Export your master public key from Electrum (Wallet > Information) and add it to Clams. Clams calculates cost basis for every UTXO and tracks capital gains when you spend. Export reports from the Exports widget.

Do I need Electrum running to sync new transactions?

No. Once you've added the xPub to Clams, you can sync at anytime. Electrum doesn't need to be running.

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