Purchase slip

What is a purchase slip? 

A purchase slip is used when a seller or supplier cannot issue an invoice themselves, for example because they are not liable for VAT. Purchase slips prove the origin of the goods being purchased. After all, the (re)seller must be able to demonstrate through a document that what he or she wants to sell was lawfully acquired.

Purchase slips in practice

In practice, a purchase slip is often used when purchasing second-hand goods. A few examples:

  • A second-hand car dealer buys a car from a private individual
  • A pallet reseller buys pallets from a private individual
  • A scrap metal dealer collects old metal equipment from a business

What do you state on a purchase slip?

Depending on the sector, certain conditions apply regarding what must be stated on a purchase slip. Generally mandatory details are:

  • The date of purchase
  • The name (private individual or business) and address of the parties involved in the purchase
  • The capacity of the parties
  • The VAT number of the taxable (re)seller
  • The details needed to describe the transaction, including specific information about the goods, such as: make and chassis number for a car, type and size for pallets, type and weight for metals, …
  • The purchase price

You draw up a purchase slip in two copies, one for each party, and it must be signed by both contracting parties.

Margin scheme

The buyer records the purchased goods in a purchase register and writes them off there when they are sold. Take into account the special VAT scheme for such goods: the VAT is calculated on the profit margin. This works as follows:

  • Take the selling price and subtract the purchase price (the one on the purchase slip). Suppose you buy an item for € 600,- and sell it for € 1.000,-.
  • The profit of € 400,- also includes the VAT due.
  • This is calculated by dividing the € 400,- by 1,21, which gives the amount excluding VAT (in this example € 330,58).
  • The VAT due to be declared is therefore € 69,42.

Want to calculate this faster? Then the following formula also works: 400/121*21 -> divide the profit margin by 121 and multiply by 21.

Purchase slips in onFact

In onFact, you can easily create a purchase slip that contains all the necessary information fields. Read here how to activate and use this document type.