How does Bartercard work?

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Anonymous Posted by Anonymous
Asked on March 4, 2020 11:25 am
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The Bartercard concept uses an alternative, electronic currency (Trade Dollars) that is exchanged between members to pay for goods and services to improve cash flow (cash be conserved for other business expenses), reduce cash expenses (by using Trade instead) and attract new customers. Trade Dollars are a well-recognised and accepted method of payment in New Zealand. One Trade Dollar is equivalent to one New Zealand Dollar for all accounting and taxation purposes.

Bartercard is a registered Financial Services Provider and operates in a similar way as a credit card or another bank account. When it comes to accounting, there is no difference between cash and Trade Dollars, with sales being recorded as income and purchases being recorded as an expense or asset.

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Anonymous Posted by Anonymous
Answered on June 23, 2017 12:03 pm
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