enter a trade - service for rent

i figured it out....

You would use a Check to the Landlord listing the Gross Rent as expense. On the next line, using a negative, post this to an Other Current Asset account. This account is named Vendor Prepayment.

You have the invoice for their sale as a Customer name. You need to make an Other Charge type item linked to that Other Current Asset account; name it Settlement as Barter. Put this item on a Credit Memo and the amount owed to you from that invoice. Apply the credit memo to the invoice.

Now this Other Current Asset account is 0. You have captured Gross rent in the name of the landlord  for proper tracking and reporting, and you have proper Customer Sales data.

You just have no Banking for that split amount that you bartered.

I just can't get my brain to work right to figure this out. We trade product for rent, sometimes they owe us and sometimes we owe them - calculated monthly. They usually owe us.

I can share some information that can help you with recording your transactions, @jerickson64

This is similar to a barter exchange. When you and your seller trade products and services, this occurs. You'd create an invoice and a bill to keep track of the products or services you're trading. Simply follow the instructions outlined below to get started.

First, you'll have to set up a barter bank account:

1. Go to the Lists menu and proceed to Chart of Accounts.
2. Click the Account dropdown, then choose New.
3. Select Bank, then click Continue.
4. Provide all the necessary information. 
5. Click Save & Close once you're done.

Then, create and receive the invoice payment for the barter transaction:

1. Go to the Customers menu and then proceed to Create Invoices.
2. Provide all the necessary information.
3. Receive the payment by clicking Receive Payments in the Invoice window.
4. In the Customer Payment window, click the drop-down arrow under More, then choose Add New Payment Method.
5. Enter barter, then click OK.
6. Click Save & Close.

Next, deposit the payment to the barter account:

1. Go to the Banking menu and then choose to Make Deposits.
2. In the Payments to Deposit window, click the payment you did earlier, then select OK.
3. Click the Deposit To dropdown arrow, then select the barter account.
4. Choose Save and close.

Lastly, enter the bill and pay it for the barter transaction:

1. Go to the Vendors menu and then choose Enter Bills.
2. Fill in the necessary information.
3. Pay the bill by clicking Pay Bill in the Bill window.
4. Choose the bill.
5. Click the Account dropdown arrow, then choose the barter account.
6. Select Pay Selected Bills.

Here are different ways how you can track customer transactions and money you owe your vendors:

• Get started with customer transaction workflows in QuickBooks Desktop
• Accounts Payable workflows in QuickBooks Desktop

Once you're done, refer to the following article on how to generate and customize reports to display data from your company file:

• Understand reports
• Customize reports in QuickBooks Desktop

Stay in touch if you have additional questions about managing transactions in QuickBooks. Please know that I’m just a reply away. Have a great rest of your day.