Sales invoices with part-exchange
Idea suggested by Stephen Youngs FCCA 12 years ago
Where a business takes goods in part exchange this can presently be processed in ClearBooks by including a sales invoice line with a negative quantity. This calculates the VAT correctly (if any), and the invoice total agrees with the net amount the customer has to pay. The problem is that the purchase is incorrectly included in sales on the VAT100 rather than purchases. Whilst the VAT payable is fine, it is still technically a non-compliance. It would be good to have, perhaps a tick box option, next to every sales invoice line, to indicate that line is for goods taken in part exchange. When the box is ticked the item would record properly as a purchase (and if a stock item as an addition to stock) rather than a negative sale, with perhaps a further option of a customisable standard comment above the invoice line concerned. Not all businesses would need this, so perhaps have it as a toggle in settings with a default of 'off'. It would be useful for anyone dealing in second hand goods, particularly motor traders.
Other options for processing the trade-in, notably separate sales and purchase invoices, are a poor alternative as they cause problems with traceability, take longer to input, are confusing to customers (the paper trail doesn't follow what they believe to be happening), and actually what paperwork do you give the customer?? If you give them an off-system invoice, how do you then enter that in ClearBooks taking into account the fact that the sales invoice number is also the purchase invoice number??
Accounting 
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