USED INVENTORY -RECORDING

Thanks for reaching out to the Community forum, Tayside01.

I'm here to lend a hand in recording a sale when having a trade-in. 

Here's what you'll need to do:

1. Create an inventory item for the items. 
2. Create a cash type bank account called Clearing.
3. Create a vendor as an Inhouse.
4. Create a service item called Trade-in. 
5. Select the clearing bank account on the item screen on the sale and list what is sold.

Then, use the clearing bank account when purchasing the item from the inhouse vendor. 

As for the calculation of the amount, I highly suggest consulting your accountant or accounting professional for guidance. They can provide more expert advice in dealing with this concern.

If you need tips and related articles in your future tasks, visit our QuickBooks Community help website for reference: QBDT Self-help. 

Let me know if you have any other concerns. I'm always around to help. Have a good one.