Future Exchange Credit Receivable
Definition
This account is used to record the exchange value of a future credit for the turn-in of an inventory carcass unit due from another federal trading partner. The Buyer or Seller in an intragovernmental exchange transaction may recognize a credit receivable for the trade-in value of the carcass to be exchanged in the future, while the Seller may also recognize the value of an advance credit receivable against a future exchange order for a similar or new replacement item. This exchange credit receivable is applied to the determination of the net exchange price of the replacement item. This account does not close at year-end.
Year-end: This account does not close at year-end.
Source: Section II ·
p1sec2-acctdef-2026.pdf
Required attributes & legal values
10For each attribute this account reports, these are the only domain values GTAS will accept for this account (Section IV).
Transactions
4Credit · Proprietary entry C439 To record the sale of a replacement inventory unit in which the fair value of an older inventory unit no longer in service is credited against the sales price of the new exchange transaction.
Debit · Proprietary entry E439 To record the physical trade-in of a repairable unit of inventory in which the providing entity receives an older unit in advance of or in anticipation of the sale of a new, replacement unit, and the fair value of the older unit is credited against the sales price of a future exchange transaction.
Credit · Proprietary entry E459 To record a gain on a carcass unit turn-in to another federal trading partner.
Debit · Proprietary entry