Barter transactions
nwinkleman
Member Posts: 3
I own a local newspaper and a local radio station and I are bartering advertising - they're giving us X number of radio spots in exchange for X number of newspaper ads. How would I record this barter transaction for bookkeeping/tax purposes?
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Comments
Hi there @nwinkleman , thanks for your post! Hm, since there are no funds exchanged, it might not need to be recorded, but if it does, then it might be worth recording it as a donation given and a donation received, and you'd input what the monetary value of the barter would be. That said, it would be best to confirm with an accountant as there may be tax implications when recording donations, and since bartering is not actually a financial transaction, Wave doesn't have a specific way to record this. So I'd recommend confirming whether this should be recorded on your accounting with an accountant!