Difference between revisions of "How do I pay finance settlement on a unit purchase?"
m (Les Ward moved page How do I Pay Finance Settlement on a Vehicle Purchase? to How do I pay finance settlement on a unit purchase?: Lower case (except for Platinum menu options)) |
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{{Note|title=Note|text=Because you are entering the value in the {{DataPrompt|Credit(-)}} column, the figure will automatically be a negative amount, so you do not need to enter a {{DataValue|-}} sign here.}} | {{Note|title=Note|text=Because you are entering the value in the {{DataPrompt|Credit(-)}} column, the figure will automatically be a negative amount, so you do not need to enter a {{DataValue|-}} sign here.}} | ||
* 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 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 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. | * 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. | + | * 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. | * Click {{Button|Done}} and {{Button|Accept}} to complete the posting. | ||
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* [[How do I Purchase a vehicle from a Customer?]] | * [[How do I Purchase a vehicle from a Customer?]] | ||
− | {{KB_Tags| | + | {{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 06:33, 22 December 2018
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.
Note: Because you are entering the value in the "Credit(-)" column, the figure will automatically be a negative amount, so you do not need to enter a '-' sign here. |
- 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 do I Purchase a vehicle from a Customer?