Difference between revisions of "How do I pay finance settlement on a unit purchase?"
Nigel Smith (talk | contribs) (→Summary) |
|||
Line 1: | Line 1: | ||
− | |||
== Summary == | == Summary == | ||
− | The following article explains how to | + | The following article explains how to settle outstanding finance on a stand-alone vehicle purchase. |
== More Information == | == More Information == | ||
− | When purchasing a vehicle, either by the part exchange route | + | This is done by journalling the amount from your bank account to the finance settlement control account. |
+ | |||
+ | When purchasing a vehicle, either by the part exchange route or a direct purchase, that has outstanding finance, the system posts the finance balance to the Finance Settlement Control account and this will need paying to the appropriate finance company. | ||
Go to {{Menu|{{NL}}|Journal Entries}}. | Go to {{Menu|{{NL}}|Journal Entries}}. | ||
− | *At {{DataPrompt|Entry mode}}, choose {{DataValue| | + | * At {{DataPrompt|Entry mode:}}, choose {{DataValue|Multiple}}. |
− | *At {{DataPrompt| | + | * At {{DataPrompt|Date:}}, enter the date of the cheque or BACS payment that you are going to make. |
− | *Enter the | + | * At {{DataPrompt|Reversing?}}, choose {{DataValue|No}}. |
− | *Enter the | + | * Enter the nominal code for the Bank Account. |
− | *Enter the | + | * Enter the amount of the settlement in the Credit(-) column. |
− | {{ | + | * Enter a comment of the stock number of the vehicle and the word {{DataValue|Settled}}, e.g. {{DataValue|VEH 1234 Settled}}. If you paid by cheque, enter the cheque number as well. |
− | + | * Enter the nominal code for the {{DataValue|Finance Settlement Control}}, (e.g. {{DataValue|19850}} in the standard nominal codes). | |
− | + | * Enter the amount of the settlement in the Debit(+) column. | |
− | + | * Use the same comment as above by clicking the {{Button|Last Comment}} button at the top of the screen. | |
+ | * Click {{Button|Done}} and {{Button|Accept}} to complete the posting. | ||
== See also == | == See also == | ||
− | * [[ | + | * [[How do I Deal with Finance Settlement on a Vehicle?]] |
− | * [[Creating a | + | * [[Creating a Used Vehicle]] |
* [[How to I Purchase a vehicle from a Customer?]] | * [[How to I Purchase a vehicle from a Customer?]] | ||
− | |||
{{KB_Tags|Finance, Settlement, Purchase, Stand, alone, Vehicle, Control, Bike, Bikes, Car, Cars, Van, Vans, Motorhome, Motorhomes, Motor, Home, Homes, Caravan, Caravans, Motorcycle, Motorcycles}} | {{KB_Tags|Finance, Settlement, Purchase, Stand, alone, Vehicle, Control, Bike, Bikes, Car, Cars, Van, Vans, Motorhome, Motorhomes, Motor, Home, Homes, Caravan, Caravans, Motorcycle, Motorcycles}} | ||
{{FAQ}} {{KB_VS}}{{ZN_Admin}} | {{FAQ}} {{KB_VS}}{{ZN_Admin}} |
Revision as of 14:43, 24 February 2014
Summary
The following article explains how to settle outstanding finance on a stand-alone vehicle purchase.
More Information
This is done by journalling the amount from your bank account to the finance settlement control account.
When purchasing a vehicle, either by the part exchange route or a direct purchase, that has outstanding finance, the system posts the finance balance to the Finance Settlement Control account and this will need paying to the appropriate finance company.
Go to " Nominal Ledger Journal Entries".
- At "Entry mode:", choose 'Multiple'.
- At "Date:", enter the date of the cheque or BACS payment that you are going to make.
- At "Reversing?", choose 'No'.
- Enter the nominal code for the Bank Account.
- Enter the amount of the settlement in the Credit(-) column.
- Enter a comment of the stock number of the vehicle and the word 'Settled', e.g. 'VEH 1234 Settled'. If you paid by cheque, enter the cheque number as well.
- Enter the nominal code for the 'Finance Settlement Control', (e.g. '19850' in the standard nominal codes).
- Enter the amount of the settlement in the Debit(+) column.
- Use the same comment as above by clicking the [Last Comment] button at the top of the screen.
- Click [Done] and [Accept] to complete the posting.
See also
- How do I Deal with Finance Settlement on a Vehicle?
- Creating a Used Vehicle
- How to I Purchase a vehicle from a Customer?