Huggins

Commercial Sale - accounting for a non Vat P/X?

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Firstly please excuse my extreme stupidity - Maths is not a strong point and I'm new to commercials and .....it's been a long day!

I have a commercial up for £8250 + VAT, customer has a small fiesta van wants 3k but it's has no VAT.

How do I account for the p/x on the invoice to ensure I account for the VAT due to be collected on my van correctly?

£8250 + vat itemised £1650 (£9900) - £3000 p/x = £6900 from customer then P/X goes on books at 3k etc?

Final question fiesta van 2011 with 5 owners? I usually try to avoid high owners but is this common on small van abit like convertibles, in terms of they change hands quite often!

Many thanks for any help as always

 

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I sell commercials and cars, you are right. Van = net price then vat then total then less part exchange. 

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Just my thoughts and opinion  but 3k does seem a lot for an 11 plate fiesta van in px I'm thinking off the top of my head more like £1850 esp with 5 owners a friend who deals in commercials  bought a 15 plate with 80k miles and 1 owner for £3500 out the door at auction a few weeks back 

1 hour ago, New year revolutions...... said:

3 bags for an 11 plate Ford van.?

 

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