Quicken & Other Budget/Accounting Software/Barter

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Question
Hi,

After posting all entries into the barter account, the balance appears to be (15,902.04)

How do i make adjustment into the realized gain/loss account since this is a negative value?

What is the entries needed and transaction details.

Answer
The barter account should be zero.
I'm unclear why you are making journal entries to
the barter account that are not the exact same amount.

If you have to pay more or less because of an exchange rate
issue, it would be best if you could make a Journal entry to A/R or A/P  with the offset to
the realized gain or loss.  Leaving the balance in the account for your
second barter entry journal entry

If the reason that it has 15902.04
is due to exchange rate differential, then you would
debit the barter account and
credit the realized gain and loss account.

Linda Saltz, CPA
Advanced Certifed QuickBooks Advisor
http://www.qbalance.com  

Quicken & Other Budget/Accounting Software

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Linda Saltz, CPA, QBalance.com

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QuickBooks best practices, troubleshooting, accounting, tax We have over 70 pages of website content about QuickBooks tips, running a business, tax and business startup at http://www.qbalance.com

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Accountant and CPA over 20 years. Specializing in accounting software for over 12 years, Certified QuickBooks Pro Advisor, QuickBooks seminar instructor since 1997.
Producer of www.QBalance.com over 100 pages devoted to QuickBooks help and support and training for small business owners in tax and accounting issues.

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