ASI SmartBooks allows you to set up a barter account - similar to how you would set up 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 set up procedures for bartering?
Create a new ledger account for each bartering agreement.
Under the account manager, create a new account
Use "Cash" as the type.
Create a new payment method for bartering under Tools-Financial-Payment Method.
How do I write off a customer's invoice due to a barter agreement?
Like with any other customer payment, enter a Receipts-New for the amount you are writing off due to bartering. Use the payment method (Receipt Type) set up for "Barter".
Allocate the payment against the customer invoices that will be a part of the barter transactions. In the Receipts-Deposit screen, use the ledger account you set up for bartering as your bank account. Select only the invoices with the payment method setup for bartering and process.
How do I write off a vendor's bill due to a barter agreement?
Like with any other vendor bill, enter a Bill-New for the amount of the vendor's bill and apply the bill as normal either to an order or directly to the appropriate ledger account.
On the Bill-Pay screen, use the 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 in the check register options. Simply select the ledger account you set up for the barter agreement. You can also verify the transactions through the reconcile option if there is a statement or some other type of register to balance the transactions against.