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  1. 9 votes

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    Mark Sharples commented  · 

    Many of my clients would love this feature!

    Mark Sharples supported this idea  · 
  2. 37 votes

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    Mark Sharples commented  · 

    This would help a lot of our clients!

    Mark Sharples supported this idea  · 
  3. 146 votes

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    Hi everyone, we appreciate your input on being able to add new tracking options while invoicing and our team are looking into improvements that could be made to this flow in new invoicing. I'll keep you looped in on any change for this here. 

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    Mark Sharples commented  · 

    NEEDED

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  4. 46 votes

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    Mark Sharples supported this idea  · 
  5. 48 votes

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    Hi everyone, thanks for your interest in this idea.

    For now, I wanted to share that we're aware some users have the following process to record their transactions. The example uses a vehicle with a purchase price of £1500, and a sale price of £2000.

    1. Record the purchase of the vehicle on a purchase Bill for the full purchase price of £1500 with a tax rate of VAT Exempt. So the purchase is recorded in box 7 on the VAT return.
    2. Record the sale of the vehicle on an Invoice for the full £2000 - using the Tax Exclusive option, and then manually changing the VAT calculated to the required amount - £83.33 (i.e. 20% on the profit of £416.87 or 1/6 of £500) by clicking the small plus box above the Tax Rate.

    This will mean that you only charge £83.33 VAT for the overall profit figure, and ensuring the correct amounts are reflected in boxes 1, 3, 5 and 6.

    You could…

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    Mark Sharples commented  · 

    We have clients using the second hand margin scheme and would really appreciate a solution.

    The best we have at the moment is to use Products and Services to track stock, set stock items with the same purchase/sale price, then add in the margin at 20% VAT when raising the sale.

    The only thing this solution doesn't cover is the simultaneous release of the box 7 figures when the stock is sold rather than when it is purchased - if this could be implemented (e.g. maybe a switch to release stock items on sale rather than purchase) then the system would work.

    Mark Sharples supported this idea  ·