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 settle outstanding finance on a stand-alone | + | The following article explains how to settle outstanding finance on a stand-alone unit purchase. |
== More Information == | == More Information == | ||
This is done by journalling the amount from your bank account to the finance settlement control account. | This is done by journalling the amount from your bank account to the finance settlement control account. | ||
| − | When purchasing a | + | When purchasing a unit, 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}}. | ||
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* Enter the amount of the settlement in the Credit(-) column. | * Enter the amount of the settlement in the Credit(-) column. | ||
{{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 | + | * Enter a comment of the stock number of the unit 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. | ||
| Line 23: | Line 23: | ||
* [[How do I deal with finance settlement on a unit?]] | * [[How do I deal with finance settlement on a unit?]] | ||
* [[Creating a used unit]] | * [[Creating a used unit]] | ||
| − | * [[How do I purchase a | + | * [[How do I purchase a unit from a customer?]] |
| − | {{KB_Tags|finance, settlement, purchase, stand, alone | + | {{KB_Tags|unit, finance, settlement, purchase, stand, alone, control}} |
{{FAQ}}{{KB_VS}}{{ZN_Admin}} | {{FAQ}}{{KB_VS}}{{ZN_Admin}} | ||
Revision as of 15:56, 16 April 2019
Summary
The following article explains how to settle outstanding finance on a stand-alone unit purchase.
More Information
This is done by journalling the amount from your bank account to the finance settlement control account.
When purchasing a unit, 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 unit 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 unit?
- Creating a used unit
- How do I purchase a unit from a customer?
