Difference between revisions of "How do I pay finance settlement on a unit purchase?"
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== Summary == | == Summary == | ||
The following article explains how to post a cheque for the settlement of finance on a stand alone vehicle purchase. This is done by Journalling the amount from the your bank account to the finance settlement control account. | The following article explains how to post a cheque for the settlement of finance on a stand alone vehicle purchase. This is done by Journalling the amount from the your bank account to the finance settlement control account. |
Revision as of 12:06, 18 February 2014
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Summary
The following article explains how to post a cheque for the settlement of finance on a stand alone vehicle purchase. This is done by Journalling the amount from the your bank account to the finance settlement control account.
More Information
When purchasing a vehicle, either by the part exchange route, or a direct purchase, if the vehicle you are purchasing in has outstanding finance, the system posts that balance to Finance Settlement Control account that will need paying off.
Go to " Nominal Ledger Journal Entries".
- At "Entry mode", choose 'Cashbook'.
- At "Money in/out" choose 'Out'
- Enter the main centre code, e.g. the code for the Bank Account (e.g. 'Z992'.)
- Enter the Nominal code for "Finance Settlement Control" (e.g. '19850')
- Enter the date of the transaction, either from the cheque stub or from the bank statement.
This will NEVER be the same code as at the top of the screen ! If it is, you will get a circular posting that does nothing. |
- Enter the value of the transaction.
- Enter a comment of the stock number of the vehicle, e.g. 'VEH 1234'.
See also
- Selling a Vehicle
- Creating a New Vehicle
- How to I Purchase a vehicle from a Customer?
- How do I Deal with Finance Settlement on a Vehicle?