4. The Requesting Department must then liaise with the Purchasing Department and Accounting Department to proceed with the barter exchange.
5. Before each month-end closing, all “Request for Utilized Barter” forms must be updated into the Barter Detail Summary Worksheet, a sample of which is attached herewith as Annexure B. This summary worksheet must then be distributed to the relevant department for their records.
6. Sample book entries to record barter transactions are appended below for guidance.
For example:
Total barter amount THB 128,400 exchange with advertisement. Advertising is printed on February, April and June 2011. Agreement was signed in January 2011 and expired in December 2011.
1. At commencement of Barter (January 2011)
Dr. Trade Barter Agreement (117907) Other Current Receivable 128,400
Cr. Trade Barter Agreement (216657) Other Current Liabilities 128,400