Explanation: ASI SmartBooks allows you to set up a Barter account – similar to how you would setup a checking or credit card account. This will provide you the ability to track transactions through the Register and balance the barter account to verify barter transactions through the Reconcile option.
How do I setup procedures for bartering?
Create a new ledger for each bartering agreement. Use "Cash" as the type.
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Create a new payment method for bartering. Type is Vendor. Do not check “Check”. Use the General Ledger created above.
How do I write off vendor’s bill?
Like with any other vendor bill, enter a Bill New for the amount of the vendor's bill.
Bill Apply as normal to either an order or directly to the appropriate general ledger as non-order.
In the Bill Pay screen, use the Payment Method and general ledger account you set up for bartering as your Bank Account.
By following these steps, you will be able to see the balance of your Barter Agreement with this vendor in the Check Register options. Simply select the general ledger account you set up for the barter agreement. You can also verify the transactions through the Reconcile option.