Question

Trying to add vehicle sales order forms but where do I enter how much it cost to purchase the vehicle and the prep? Or do I just put the total as the profit?

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I sold a vehicle for £5000. It cost me £3230 to purchase and I spent £600 on prep, making my profit £1170. How do I add all this into Quickbooks?

QuickBooks Online

paul72

Hi @sales-vans4adven

Usually, you would create an Invoice for the £5000 & enter the costs as Bills or Expenses in QB.

However, if you're VAT registered & inside the second-hand vehicle margin scheme, you need to be careful as QB will not calculate the margin VAT itself.

Hope this helps.

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