How do I deal with sale or return units?

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Summary

This article will explain how to enter 'Sale or Return' Units to your stock, how to produce a self bill invoice for them and how to sell them.

More Information

Units: Unit is a general term used to cover all types of vehicle and machinery, including items such as motorcycles, scooters, cars, trucks, vans, caravans, motorhomes, boats, tractors, ATVs, agricultural equipment, wholegoods and construction equipment.

Creating the Unit Record

Go to " Unit Sales Add or Edit Units".

  • Press <F6> or click [Add] to create a new unit record.
  • Press <F2> to get the next available stock code '(Automatically Generated number)'.
  • Set the "New?" flag to 'N'.
  • If your system has been set up with HPI lookup enter the unit registration number and click [Look Up].
    • The system will then contact HPI and fill in all the unit information including 'Make', 'Model', 'Description', 'V.I.N.', 'Chassis Number', 'Engine Number', 'Engine size' and much more. The HPI system will automatically create the unit models if they do not exist already in the system. Remember that HPI do charge for this service at a nominal rate.
It is advisable to do an "Include a Unit Data Check" as this will do all that mentioned above but will also notify you that if the unit has any outstanding HP, if the unit is a category write off via insurance, or if the unit has been stolen. You will not want to have any of this sting you in the tail. Remember that HPI do charge for this, but it could save you a lot of money and aggravation!
  • Move to the "Status" field and select 'SOR - Sale or Return'.
    • If this status does not exist click [Add].
    • Enter 'SOR' as the "Unit status" and 'Sale or Return' as the "Description".
    • Select the background colour for the status if you wish.
    • Select the [Settings] tab.
    • You will need to consult with your accounts department as to whether they class Sale or Return units as part of their stock at this stage. If they do, change "In stock" to 'Yes' else leave it set to 'No'.
    • If you wish these units to be included in your web advertising set "Web upload" to 'Yes'. This will ensure these units are advertised on Catalyst FindIt.
  • Click [Done] and [Accept] to return to the unit.
  • You should now check and complete the remainder of the unit details including the purchase information.
  • Enter the 'Vendor Details' on the "Supplier" field. You may need to create a new supplier record for this.
    • Alternatively click the drop down and select 'S' which will then allow you to select from an existing customer account (please note: the self bill when produced will be posted to supplier 'VEH001').
As this is a 'Sale or Return' unit, you will not purchase it until a sale has been agreed. However in order to sell the unit, you must enter the price you have agreed with the vendor into the "Purchase Amount" on the [Purchase] tab of the unit record.
This is so that when the unit is sold the system can calculate the correct margin VAT.
  • Enter the agreed purchase amount.
    • If the purchase is a commercial unit this should be the Nett price.
    • If the purchase is from a non-commercial vendor this should be the full price you intend to pay for the unit.
  • If the unit has any outstanding finance enter this amount in the "Finance Balance" field. You will then need to enter the finance company account code or create a new customer record if applicable. You will need to check the balance prior to purchasing the unit in case the vendor has made any more payments in the interim.
If you wish to exclude the unit from the value of your stock set the "Value excluded?" flag to 'Yes'. When you produce the Valuation report the unit will not be included. If you have chosen to include 'SOR' units in your unit stock please leave this flag set to 'No'.

Purchasing and Selling the Unit

Once you have a buyer for the unit, create a sales order following the usual steps.

  • Prior to producing the final invoice please check and confirm the agreed purchase price with the vendor.
  • Produce the self bill purchase invoice.

Go to " Unit Sales Add or Edit Units".

  • Enter the unit stock number to purchase.
  • [Edit] the unit record.
  • Select the [Purchase] tab.
  • Check the details are correct i.e. the purchase amount, any outstanding finance and the vendor details.
  • Press <F2> to produce a self bill invoice.
  • If prompted, check the "Payment amount" is the expected value and enter the "Payment method". This will usually be 'Z992' if the payment is from the company bank account but check with your accounts department if you are unsure what code to use.
  • Click [Invoice] to print the invoice. Select [Reprint] to produce a copy for your records then click [Accept].
If the unit has outstanding finance don't forget to pay the finance company and post the payment made, against the purchase invoice, on your purchase ledger.

You can now produce the customer invoice to complete the sale of the unit.

Returning a Unit to Vendor

If you return the unit to the vendor without selling it you will need do the following:

  • Change the status of the unit to a suitable status e.g. 'RET - Returned to supplier'. ** See this article if you need to create a new status. It should be marked as "In stock?" - 'No'.
  • Make sure that the [Purchase] tab information has been removed apart from the account code.
If you had already produced a purchase invoice, leave the account field completed and remove all other details. When you accept the unit record you will be asked to confirm that a new document will be produced. Click [Accept] and the system will credit the purchase. Your accounts department may need to deal with the refund from the vendor, if necessary.
  • You should also add a note against the unit to indicate that it was returned to the vendor.
  • Click [Done] and [Accept] to save the changes to the record.

See also


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