How do I post road fund licence and registration fee as expenses?

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Summary

The following article explains how to post road fund license and first registration fees as an expense against a vehicle.

This only needs to be done if you're not adding road fund licenses and first registration fees when you sell a vehicle in the usual manner.

More Information

These fees need to be posted against the individual vehicle record.

Go to " Unit Sales Add or Edit Units".

  • In the "Search On:" field, enter the stock number of the vehicle to which you wish to add the expenses.
  • Press <F5> to edit the vehicle.
  • Press <F7> to bring up the Expenses screen.
  • Press <F6> to add a new expense.
  • In the "Date:" field, enter the date of the expense.
  • Enter a description of the expense, e.g. First Reg Fee.
  • Enter a reference, e.g. the invoice or receipt number.
  • Enter a Unit Sales Category against the expense if required.
  • At the "Type:" field for the expense, select 'Cost of Accessories'. This will define where on the Profit screen the expense will appear.
  • Press <Esc> and accept the expense.

Accounts Posting

  • The above process will credit Z944 (Vehicle Expense Accruals) and debit Z943 (Vehicle Stock of Expenses).
This posting will only take place if the integration of the Unit Sales to the Nominal Ledger is switched on.
  • When you pay the fees, you need to post a journal entry in the Nominal Ledger which credits Z992 (Current Bank Account) and debits Z943 (Vehicle Stock of Expenses).

See also


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Keywords AND Misspellings
fee, reg, expenses, vehicle, post, journal