The Green America Exchange (GAEx) is a simple concept. Your business uses what it has to purchase what it needs—like a barter system, but much better and much more flexible.
How do I sell?
Making a sale through GAEx is no different from any other online sale, except for the form of payment you receive. The Exchange Dollars you earn and spend in the Green America Exchange are valued just the same as cash. You post your product or service; then, when someone buys it, your online GAEx account is credited in Green America Exchange Dollars.
How do I buy?
After earning Exchange Dollars from your sales (or by applying for a Premium Credit Line) we help you identify business and personal cash expenditures that you can offset with Green Exchange Dollars, and direct you to suppliers through the Exchange. You make a sale, gain a new customer, conserve your cash, support a fellow green business, and get what you need all in the same place.
What are the requirements for participation?
To receive the benefits of participation in GAEx your company or organization must be a dues paying member of the Green Business Network (GBN). To see more information on GAEx membership levels, please visit the Start Trading tab.
What about taxes?
The Green America Exchange is administered and managed by Green America. Among its many services to support GAEx, GA will provide every Exchange participant with the necessary forms to provide for tax reporting at the end of each year (1099B). This report will show the amount of sales your business made in the Green America Exchange. For example, if your business earned 10,000 Exchange Dollars in the Exchange in one year, GA will send you a 1099 to provide to your accountant that reflects $10,000 in sales. Each month, a statement is made available detailing recent transactions. This can be obtained from the online system. Accounting practices are identical to those for cash transactions.
There is no tax advantage or disadvantage for transactions. As in normal accounting, your Exchange Dollar income is taxable and at the same time, certain capital purchases and business expenses can be tax deductible.
When applicable, standard sales taxes will apply. Taxes are always payable in cash, and reported on a standard tax return as normal. Click here for more IRS information.
Sounds great! So, how do I get started?
To participate in the Exchange you simply agree to accept an additional form of currency known as Green America Exchange Dollars for payment, then use them to purchase products and services within the Green America Exchange (GAEx). To activate your Basic or Premium Account you’ll need to provide some basic information and acknowledge the terms and conditions of participating in the exchange by filling out and submitting an Activation Form. Questions concerning the application process, selecting the appropriate membership level, or setting up your account can be directed to the GAEx Trade Department, Trade Coordinaotor.