What the part-exchange document records
The sales invoice describes the car your customer is buying. The part-exchange purchase invoice records the car you are taking from them. Keeping both records makes the agreed allowance and any finance settlement easier to follow.
In DealerSlip, you start with the main sale, then enable part exchange in the Price step. The buyer information is reused for the part-exchange seller, and the incoming vehicle gets its own details.
Details to have ready
| Detail | What to enter |
|---|---|
| Seller | The name, address and contact information of the customer providing the vehicle. |
| Incoming vehicle | Registration, make and model, mileage, VIN and your stock reference. |
| Allowance | The agreed value you are allowing for the vehicle. |
| Finance settlement | The amount to settle and lender information, where applicable. |
| Handover details | What you have recorded about the V5C, keys and service history. |
| Declaration | The seller declaration you have checked and intend to use for this transaction. |
Allowance and settlement: an example
The allowance and the net credit are different when finance needs to be settled. In this example, the incoming vehicle has an agreed allowance of £3,200. Of that, £1,150 is allocated to settling finance. The net credit against the sale is £2,050.
Illustrative amounts only.
| Part-exchange calculation | Amount |
|---|---|
| Agreed allowance | £3,200.00 |
| Less finance settlement | £1,150.00 |
| Net credit against the sale | £2,050.00 |
If the main sale total is £13,645 and a £500 deposit has been received, the remaining balance is:
| Sale calculation | Amount |
|---|---|
| Sale total | £13,645.00 |
| Less net part-exchange credit | £2,050.00 |
| Less deposit received | £500.00 |
| Balance to collect | £11,095.00 |
Create the documents in DealerSlip
- Enter the vehicle being sold and the buyer. These form the main sales invoice.
- Open Price and turn on Part exchange. Enter the incoming vehicle's registration and make and model.
- Add the allowance and settlement separately. Include the lender where relevant. Use a confirmed settlement figure for the transaction.
- Complete the incoming vehicle details. Add mileage, VIN, stock reference, V5C, keys and service history information.
- Review the seller declaration. Make sure it matches what you have agreed and checked.
- Review both document tabs. Check Sales invoice and Part exchange, then download the document pack.
Avoid counting the allowance twice
Enter the vehicle allowance in Part exchange. Enter cash, card or bank-transfer payments in Payment. Do not enter the same part-exchange allowance as a payment as well, or the recorded balance will be reduced twice.
Where there is no outstanding finance, the net credit is the allowance. Where the settlement exceeds the allowance, check the resulting balance and the agreed deal carefully before issuing the documents.
A record, not a vehicle check: DealerSlip uses the details you enter. It does not verify ownership, check outstanding finance or obtain a settlement quotation. Complete those checks through your normal process.
Common questions
Why is the part-exchange tab unavailable?
It becomes available when you enable part exchange in the Price step. Add the incoming vehicle and the agreed amounts, then select Part exchange above the document preview.
Can I make a standalone vehicle purchase invoice?
This workflow is for a part-exchange purchase linked to a vehicle sale. It is not a standalone stock-purchase workflow.
Does the template determine the VAT treatment?
No. The document uses the details and settings you supply. Confirm the appropriate tax treatment and wording for the transaction with your accountant.