eXmerce has changed traditional bartering into a sophisticated business practice. You earn Trade Dollars with each sale you make through the eXmerce community. Then you use those Trade Dollars to purchase products and services from the hundreds of businesses in the exchange. Why spend cash when you can barter!
What does Revenue Canada think about barter?
Revenue Canada accepts barter as a legitimate method of payment. Revenue Canada recognizes eXmerce as a third party record keeper for barter transactions. Revenue Canada requires that all barter transactions be reported on your business returns. eXmerce will issue monthly statements to reflect these transactions. For accounting purposes, barter income should be treated like cash.
Are there tax advantages to eXmerce?
There are no tax advantages or disadvantages. eXmerce income is treated the same as cash income. It should be considered a marketing tool rather than a tax tool. Cash purchases that are normally tax deductible as business expenses are also tax deductible as trade purchases.
How is bartering through eXmerce better than direct bartering?
eXmerce eliminates the restrictions of one-to-one bartering in which each business must want what the other has to offer at the exact same time. eXmerce offers a community of more than 400 businesses, making it easier to find what you want quickly. An eXmerce Trade Broker works with you directly to bring your company new sales and increased market share, help you find what you need for your business, and shows you ways to minimize cash outlay for everyday business or personal expenses.
How will my business benefit from using eXmerce?
eXmerce is an innovative tool that can help your business conserve cash, generate new business, and turn excess, idle inventory into the products and services it needs to grow. The barter industry accounts for one quarter of the world’s volume of business every year and is growing at a rate of 15% per year.
What does it cost to get started?
There is a one-time membership investment to establish your business account. Transaction and modest monthly fees cover accounting, marketing, promotions, and member services.
What if I need to make a purchase before I have earned enough eXmerce dollars?
Similar to a bank, we encourage businesses to apply for an eXmerce line of credit. If you qualify you can begin purchasing immediately. You can also use your eXmerce line of credit to enhance expansion or a new business venture when traditional funding is not available.
How should I price my product or service?
Prices quoted to eXmerce members are the same as prices quoted to cash-paying customers. eXmerce allows you to purchase products and services at your own cost of goods. Business owners are educated shoppers. eXmerce is simply another method of payment, just like cash or credit card.
When participating in a barter exchange, it’s important to identify all the areas where you would normally pay for products or services for your business, or in your personal life. You can do it on your own, or in conjunction with your bookkeeper or accountant for better accuracy. Get Free eBook