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QUESTION DETAIL
Related User
Votes
How do I account for barter transactions? My company is providing a service to another company. That company is paying us with his service.
ANSWER
The BIDaWIZ Team's Answer:
First, you need to clearly mark or file all barter income and expense documents as "bartering," and retain all original source documents pertaining to your barter transactions. You would credit - Bartering Income and then debit the expenses for the services received.
