Record a watch's acquisition
Capture how you bought a watch (price, tax scheme, supplier, and invoice) so cost and margin stay accurate and your purchase records are ready for tax season.
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The acquisition record is where you capture how you bought a watch: what you paid, from whom, under which tax scheme, and the paperwork to back it up. It's the cost side of every margin figure Worldwatch shows you. Fill it in fully and Worldwatch becomes the single source of truth for your purchases: margin and VAT are computed correctly, and tax season is a lookup rather than a scramble.
Open the acquisition editor
On the watch's detail page, find the Acquisition panel and click Edit. An acquisition can sit in Draft until you've filled in what you have; you can come back and complete it when the paperwork arrives.
Enter the purchase price
Under Purchase price, enter the agreed price and its currency. If you're buying second-hand under the margin scheme, tick Margin scheme (second-hand goods). Tax is then calculated on your resale margin instead of the full price, and you must set the Country so the right scheme applies. For non-standard cases, open Advanced tax settings to override the sub-jurisdiction, rate %, or tax scheme; by default the scheme follows the country.
Set the purchase date
Enter the date you bought the watch and its source. Leave it Estimated if you're recording from memory, and switch it to invoice-confirmed once you have the paperwork.
Link the supplier
Under Supplier, link the contact you bought from: search by name, company, or email, or create a new contact. Linking a contact fills the supplier fields (name, seller type, VAT number) from that record automatically, so you set them once and reuse them on every purchase from that seller.
Attach the invoice
Under Invoice, choose the document type (for example, a purchase invoice or a buying form), enter its number and date, and upload the document as an attachment. Keep invoices, buying forms, and any other proof of purchase here so they live on the watch itself.
Add internal notes
Use Internal notes for anything your team should know about the purchase: how you negotiated it, condition caveats, follow-ups. These are visible to your team only, never to buyers.
Save
Click Save. The acquisition appears on the watch, and its cost feeds the margin and margin % shown across your inventory.
The margin scheme changes the tax that's calculated. Ticking Margin scheme taxes your resale margin instead of the full price, and it needs a country. Set it correctly at purchase. If you're unsure which scheme applies to a given buy, check with your accountant before you rely on the figure.
Let the linked contact do the typing
When you link a supplier contact, Worldwatch derives the name, seller type, and VAT number from that contact record; you'll see "Derived from the linked contact" under those fields. Maintain a seller's details once on their contact, and every watch you buy from them inherits the right information, including the VAT number your margin and reporting depend on. Creating a new contact from the supplier field works the same way; the details you add there flow straight onto the acquisition. See add and manage contacts for the full contact record.
Why complete records pay off
The more you fill in, the more Worldwatch can tell you. Cost and margin per watch roll up into your stock value and sales performance, so a habit of complete acquisitions gives you an honest read on how your buying is doing. Because the price, tax scheme, supplier, and paperwork all sit on the watch itself, there's nothing to reconcile later; the purchase records and VAT treatment are already in one place when you, or your accountant, need them.
Troubleshooting
The supplier's details didn't fill in
Name, seller type, and VAT number are derived from the linked contact. If they're blank, the contact record is missing them: open the contact, add the details there, and they flow back to every acquisition linked to it.
"Country is required"
The margin scheme needs a country so the right scheme applies. Set the Country field (for example, NL), or untick Margin scheme if the purchase isn't under it.
The margin or margin % looks wrong
Margin is the selling price minus the purchase price. Check the agreed price and currency on the acquisition: a wrong cost, the wrong currency, or a missing margin-scheme setting throws the figure off.