Handling Barter

How to handle Barter within RFMS.

NOTE: Barter is defined as to trade by exchange of commodities.

• Insert an Order in Order Entry for the Customer that is trading services with the company.
• Click on Payment Icon
• Discount off the balance of the customer order in the discount field on the payment screen.
• Change the discount account code to the same GL account code that the original accounts payable for this customer was posted to.
• Enter in an accounts payable record for the monies that the company owes the customer.
• Go to accounts payable, post a negative payable for the amount of the discount, post it back to the same G/L account code that the discount and the original payable was posted to.
• Flag both the original payable and the negative payable to be paid, print a zero check or print the check for the difference.

NOTE: If the Negative payable is higher than the original payable, split the A/P, one for the amount of the original payable, flag it and print a zero check, leaving the other negative payable in the accounts payable file to be taken care of at a later date.