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Advice regarding setting up a business with used goods / secondhand goods

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Posted on by Rasmus

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Hi,

If I would start a shop where I purchase secondhand goods (for instance furntiture) and then sell them online how would this be set up?

I would like to use margin scheme for secondhand goods. Paying VAT on the difference. Buy for 100 sell for 300 = 200. 200 x VAT rate = VAT. Per item basis.
I do not necessarily need to track items on an individual basis.

On the sales order line would you do items/variants or account?

Any other advice? How would you do it? How did you do it :)

Of course how this would be done depends on what the desired outcome is in regards to reporting and other factors. But in general...

Kind regards

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Rasmus 161 on at

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Advice regarding setting up a business with used goods / secondhand goods

Thanks for replying Inge. I will think about it. I kinda wished for a more "automatic" solution. But I appreciate the effort and it is a start!

I have actually done something similar before and just grouped up the sold items that are concerned in a report and ran the numbers for the VAT. Worked fine. However this was not per item basis but everything grouped together.

I will have to revisit this at a later date... hopefully I am smarter by then.
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Inge M. Bruvik 32,748 Super User 2024 Season 1 on at

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Advice regarding setting up a business with used goods / secondhand goods

I do not think I have a complete answer for you.

But maybe you can look into a way of using the functionality that allows you to manually enter VAT on a sales document?

How to work With VAT on Sales and Purchases - Business Central | Microsoft Learn

You will probably also need some kind of customization on top of this. But it might be a start that you can build on?