How to create account for barter transactions?, Accounting Basics

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How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.

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Charles 2/19/2014 3:50:38 AM Firstly, clear mark or file all barter income and expense documents as "bartering," and retain all original source documents pertaining to your barter transactions. You are require to credit - Bartering Income and then debit the expenses for the services your company received.

Charles

2/19/2014 3:50:38 AM

Firstly, clear mark or file all barter income and expense documents as "bartering," and retain all original source documents pertaining to your barter transactions. You are require to credit - Bartering Income and then debit the expenses for the services your company received.

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