QB Issue Resolution:

Since you and your vendor are exchanging services, this is called a Barter. To record a barter transaction, you need to enter an invoice and a bill for the services being exchanged.

 

To start off, set up a Barter account (it may also be called a clearing or wash account):

 

1. Go to the List or Company menu at the top.
2. Pick Chart of Accounts.
3. Right-click anywhere, then New.
4. Choose Bank, then Continue.
5. Enter the Account Name, then Save & Close.

 

Once done, delete the Credit Memo. Then, receive the payment against the invoice and enter the amount bartered:

 

1. Go to the Customers menu.
2. Pick Receive Payments.
3. Select the Customer/Vendor.
4. Enter the amount bartered on the Payment Amount section.
5. Deposit it to the Barter Account.

 

After that, pay the bill using the barter account to zero out its balance:

 

1. Go to the Vendor menu.
2. Select Pay Bills.
3. Click the bill to be paid.
4. On the Account section at the bottom, choose the barter account.
5. Hit Pay Selected Bills to complete the process.

 

That should record the exchange of services. For additional information, check out this article: Set up a Clearing Account, Barter Account or Wash Account.

 

Resolution for Issue 'invoice credit memo bill' available: Yes (Solved).
Source: Intuit Community forum.

invoice credit memo bill: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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