According to an article in the Atlanta Business News, Grecians are ditching the Euro before it lets them down, and many are moving toward and using local exchange currencies. A small but growing minority in about a dozen Greek towns are using an alternative exchange system to help them survive the crisis. That’s been attracting […]
The current global recession has placed enormous financial pressure on every business sector, every level of government and virtually every individual on the planet. The prolonged economic downturn has tested peoples’ confidence in once-respected financial institutions and government-managed monetary systems. The recent proliferation of barter exchanges, community currency systems, online barter sites, government sponsored trade […]
I received word from Ron Whitney of IRTA recently that the article I reported on in the Examiner, the article reporting an attack on barter currencies, was not factually correct by any means. From Ron: Tyler: The slant of Mr. Shortgen’s article in the Examiner.com is incorrect. First, you need to read the revised article […]
From examiner.com: The Federal government is trying to establish bartering private currency of any type as an illegal enterprise in a false interpretation of the court’s recent conviction of Liberty Dollar’s owner Bernard Von NotHaus. In a case where the government used conspiracy and counterfeit charges against NotHaus to establish that he intended to mint […]
I found a link to a site that offers free Quickbooks advice. It had this to say about recording a barter transaction. Recording of Barter ExchangesIf you have customers who are also vendors you may decide to trade some or all of your services / products in exchange for payment. To record such a barter […]
There are many ways barter can be used to renovate or restore a home. You can use barter to purchase building materials and hire contractors. Many suppliers such as tile, carpet and stone companies have huge excess inventories or items that have gone unsold. They would welcome the opportunity to get full value for the […]
Most businesses suffer from the issue of bad debts (accounts receivable that will most likely remain uncollectible and will be written off). These debts appear as an expense on the company’s income statement, thus reducing net income and most companies make a bad debt allowance since it is unlikely that all of their debtors will pay them in full. (more…)