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We entered into a trade agreement for Advertising VS Inventory. How do I offset this to show the invoice paid and the inventory pulled out?
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In these cases you first should create a 'normal' vendor bill and a 'normal' sale invoice (or similar 'normal' documents).
These cannot be directly applied to each other so you need a place to 'clear' them - to do that I alwasy keep a dummy bank account in my gl for contra/offset/clearing transactions.
Then create dummy cash payments and cash receipts which both flow thru the clearing bank account (or code the other 'normal' documents thru that account)
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This is also the reason to use regular transactions: "How do I offset this to show the invoice paid and the inventory pulled out?"
If you mean, Sold by Barter, you still need to deal with Sales and Sales Tax reporting. You need the name as Customer and the name as Vendor, and treat them as separate parties.