how do I add a payment method to be able to accept trade? keeping a balance and trading services

Are you B2B or B2C?

Have you signed up for QB Payment?

Yes, you can add a payment method and name it as Barter to accept trades, Discreet.

Once you're ready to record your trading transactions, it's necessary to set up a barter bank account to deposit the money received. Here's how:

1. Go to the Gear icon, then click Chart of accounts.
2. Select New to create.
3. Choose Bank under the Account Type dropdown.
4. Select Cash on hand for the Detail Type dropdown.
5. Enter the account name. (ex. Barter Bank Account)
6. Once done, click Save and Close.

Next, create an invoice for the barter transaction, then proceed to receive payment.

1. Click +New, then select Receive payment.
2. From the Customer dropdown, select your vendor’s (barter partner) name. Note: The details and info from the invoice you’ve created earlier will appear under Outstanding Transactions.
3. Fill in important details.
4. Select the Payment method dropdown, then Add new.
5. Enter “Barter” in the Name field, then hit Save.
6. Select the Deposit to dropdown, then click your barter bank account.
7. Once done, hit Save and close.

You can follow Step 3 in creating and paying a bill in this article: Record a barter transaction.

Moreover, you can run an Invoice and Received Payments report to check which invoices are already paid by your customers.

Lastly, we have specialists ready to help you streamline various tasks in QuickBooks. Our QuickBooks Live Expert Assisted service offers personalized guidance to ensure you stay organized and effectively manage your business finances.

Share any further inquiries about adding a payment method for your trading transactions in the comments below. We'll be here to lend a hand.