If you and you're vendor exchange goods and services, you'll have to record it as barter transactions.
Let me walk you through the steps on how to record barter transactions in your QuickBooks Online account. Here's how:
Step 1: Set up the barter bank account
Go to the Gear icon.
Select the Chart of Accounts tab.
Click the New button to create a new account.
Choose Bank in the Account Type drop-down.
Under the Detail Type field, select Cash on hand.
Enter the account name. (ex. Barter Bank Account)
Click the Save and Close once done.
Step 2: Create an invoice and receive payment
Please know that before entering your barter transactions, make sure that you've added your barter partner as a vendor for the bill and customer for the invoice. Note: You'll have to make the names slightly different.
Create an invoice
Go to the +New button.
Select the Invoice tab.
Choose your vendor's (barter partner) name in the Customer dropdown.