Tracking Barter Customer Transactions

Customers with whom you trade products without money actually changing hands are considered barter customers. The following procedure describes how to record your barter transactions in the system so you can keep accurate track of your stock and supplies, even when operating on a barter system.

To track barter customer transactions:

1. Create a G/L account called Barter.

2. Create a barter product, with a MiscChrg status and G/L code of Barter.

3. Create a sales order for the items being traded to the customer as barter.

4. View the sales order Totals screen and note the total amount for the items.

5. Return to the Body screen of the sales order and enter a new line item for the miscellaneous charge barter product with an order quantity of -1. Set the price for the amount you obtained from the Totals screen.

As a result of this transaction, the accounts receivable does not increase and the Barter G/L account updates by the correct amount.

The T-Account postings for this transaction are as follows:

See Also:

Creating a New G/L Account

Making Inventory Adjustments

Creating Product Records