Difference between revisions of "Used unit stocking plans"
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=== Create a Stocking Plan Nominal Code === | === Create a Stocking Plan Nominal Code === | ||
| − | Follow [[How do I | + | Follow [[How do I create a nominal code?|this]] article to create a Nominal Code to use when posting the finance received and payments to the finance company. |
It should be a Balance Sheet - (B) Asset/Liability code. | It should be a Balance Sheet - (B) Asset/Liability code. | ||
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== See also == | == See also == | ||
* [[Creating a unit analysis code]] | * [[Creating a unit analysis code]] | ||
| − | * [[How do I | + | * [[How do I create a nominal code?]] |
{{KB_Tags|stocking plan, used plan, finance, stocking, analysis}} | {{KB_Tags|stocking plan, used plan, finance, stocking, analysis}} | ||
{{FAQ}}{{KB_VS}} | {{FAQ}}{{KB_VS}} | ||
Revision as of 06:30, 8 January 2019
Contents
Summary
This article explains a method for dealing with Used Vehicle Stocking Plans.
More Information
You will need to configure the system to allow you to indicate which vehicles are in the plan, record the plan end date and post the finance received and due to a Balance Sheet Nominal Centre.
Configuration
Configure the system as described below:
Vehicles in Plan
Create an Analysis Code to attach to vehicles in the stocking plan, e.g. 'S - Stocking Plan'.
Follow the instructions in this article. Use whichever of the three analysis code positions you prefer. When running reports, you will be able to list vehicles by this specific analysis code.
Plan End Date
Go to " Reports & Settings Maintenance Options System Administrator Module Settings Unit Sales Module Settings".
- In "Search on" type 'SERV'.
- Click [Search].
- Click "Alternate Service type 5" then click [Edit].
- Enter 'Plan End Date' then click [OK].
 | If this field is already being used, select one of the other four "Alternate Service type" fields. |
- Click [Done] and [Accept] the amendment.
Create a Stocking Plan Nominal Code
Follow this article to create a Nominal Code to use when posting the finance received and payments to the finance company.
It should be a Balance Sheet - (B) Asset/Liability code.
Assigning Vehicles to the Stocking Plan
Vehicle Details
When you are informed that a vehicle is in a stocking plan, you need to attach the analysis code to the vehicle record and record the Plan End date.
Go to " Unit Sales Add or Edit Units".
- Search for the vehicle.
- Click [Edit] then click on the [Details] tab.
- Click on the relevant Analysis Code field.
- Enter the "Analysis Code" as created in the configuration section, e.g. 'S'.
- Click on the [Servicing] tab.
- Enter the Plan End Date in the date field at the bottom of the screen.
- Click [Done] and [Accept].
Posting Payments Received
When you receive the payment from the Stocking Company:
Go to " Nominal Ledger Journal Entries"
- At "Entry mode", choose 'Multiple'.
- Enter the "Centre" for the Bank Account into which the money has been paid.
- Enter the amount received in the "Debit" column.
- Enter the Stock Number of the vehicle in the "Comment" field.
- On the next line enter the "Centre" you created for the Stocking Plan.
- Enter the amount received in the "Credit" column.
- Enter the Stock Number of the vehicle in the "Comment" field.
- Click [Done] and [Accept].
Repeat these steps for each vehicle in the plan.
This creates a liability to the Stocking Company on your Balance Sheet.
Viewing Vehicles in the Plan
Go to " Unit Sales Unit Reports".
- Click [Reports].
- Click [Alter Report Range].
- Press <F4>.
- Enter the analysis code for the Stocking Plan in the relevant analysis field.
- Click [Close].
- Fill in the other filters as appropriate. e.g. enter 'STO' on "Statuses Included" to report on 'In Stock' vehicles only.
- Press <Esc> then select a report to run.
- The "Vehicle Report (Brief)" can be used to list the vehicles on the plan.
- The "Sales Report" can be used to list all vehicles sold in a given date range which are on the Stocking Plan. You will usually need to repay the Stocking Company for these vehicles once they are sold.
Alternatively go to " Unit Sales Unit Reports Unit Sales Report Generator".
- Type 'Stocking' and click [Search].
- If you do not have a suitable 'Stocking Plan' report, please Contact your Platinum dealer or our support team on 0116 230 1500 or by using our website support contact page for advice.
Making a payment to the Stocking Company
When you sell a vehicle or it reaches the plan end date, you will need to repay the Stocking Company:
Go to " Nominal Ledger Journal Entries".
- At "Entry mode", choose 'Multiple'.
- Enter the "Centre" for the Bank Account you are using to pay the Stocking Company.
- Enter the amount paid in the "Credit" column.
- Enter the Stock Number of the vehicle in the "Comment" field.
- On the next line enter the "Centre" you created for the Stocking Plan.
- Enter the amount paid in the "Debit" column.
- Enter the Stock Number of the vehicle in the "Comment" field.
- Click [Done] and [Accept].
This reduces the liability to the Stocking Company on your Balance Sheet.
You will also need to remove the vehicle from the stocking plan.
Go to " Unit Sales Add or Edit Units".
- Search for the vehicle.
- Click [Edit] then click on the [Details] tab.
- Click on the relevant Analysis Code field.
- Remove the "Analysis Code" from the field.
- Click [Done] and [Accept].
Viewing the Balance Owed
Go to " Nominal Ledger Nominal Review".
- Enter the Stocking Plan Nominal Centre in both "Centre from" and "Centre to".
- Press <Enter> then click [Search].
- The "Cumulative Bal." shows the current liability.
See also
