Vehicles Stock & Value

MotorDesk's vehicle 'Stock & Value' section enables you to record your vehicle's financial details, including purchase price and additional costs.

Create Purchase

When entering a vehicle's purchase price and additional costs you have the option to 'Create Purchase', this option will create a purchase invoice in MotorDesk for the relevant transaction which will then be synchronised with the connected accounting software.

Whether you create a purchase invoice depends on whether you want to record the transaction in your accounting software. For example, if you are recording an additional cost such as the cost of valeting the vehicle and you have an invoice for that service, you will likely want to record it from the Stock & Value section to have that purchase invoice connected with the vehicle. However, if the invoice shows the valeting service for multiple vehicles then you would not want that purchase invoice linked with this vehicle because the amount would be incorrect. In this case you can simply enter the individual valeting cost without selecting 'Create Purchase', this will then show the correct 'Stand-In Value' for the vehicle taking into account this service. You may then choose to create the purchase invoice via the Sales -> Purchase Invoices section without linking it to a vehicle.

Vehicle Purchase Details

To record a vehicle's purchase price simply enter the price and applicable VAT. You may optionally enter the purchase date, name of supplier (created as a Contact), and supplier invoice number. You can then choose to create a purchase invoice based on these details as you wish, and once done you can continue to edit the purchase invoice as you wish.

When adding a vehicle via the Create Purchase Invoice, or Part Exchange process, the purchase details will be completed automatically.

Only the vehicle's price is linked from the associated purchase invoice, additional products and discounts added to the purchase invoice are ignored but can be added as additional costs (without creating an additional purchase invoice).

Funding Provider

You may optionally choose to enter your funding provider and funding amount, these will then be shown in your Current Vehicles and Sold Vehicles report, helping you to keep track of what funding you are currently using or have previously used.

Additional Costs

Additional costs can be added freely using the create purchase process as required. Categories and suppliers can be entered to help organise your costs which will then be listed in your Current Vehicles and Sold Vehicles.

The options provided for the category input are provided as suggestions and you may freely enter any value you wish, you can also customise the suggestions in the Vehicles -> Settings section.

VAT Status

You may adjust a vehicle's VAT status based on whether it is marginal (the margin second-hand good scheme can be applied) or VAT qualifying. A vehicle is VAT qualifying when you have paid VAT to purchase the vehicle, and therefore you will reclaim the VAT on the purchase and charge VAT on the sale. A vehicle is marginal when it has been purchased second-hand without VAT being charged, you can then sell the vehicle under the second-hand goods scheme where VAT is only due on the profit of the sale.

Sales Channel Pricing

When pricing a vehicle you are given two options to enter the 'Website Price' and 'Sales Channel Price'. The website price is the default price for the vehicle and is required. The sales channel price enables you to set a different price to be shown on your sales channels such as AutoTrader, simply leave the value blank to default to the website price.