Unit on Order
When keying in On Order units you will need to make sure the following fields are filled in:
- Stock Number – Upper right-hand corner of the screen
- Year – Upper right-hand corner of the screen
- Make – Upper right-hand corner of the screen
- Model – Upper right-hand corner of the screen
- VIN – Upper right-hand corner of the screen
- CO # – Upper right-hand corner of the screen
- PC – Upper right-hand corner of the screen
- On Order – Checked off
- Status – Set to On Order
- Manual Update – Checked off
- Purchase Price – filled in with estimated invoice cost of unit
- Reference Number, Purchase from, Po number – Filled in.
- Accounting GL Presets – Make sure these are filled in correctly or you will adversely affect accounting transactions created in the following steps.
- So long as the Manual Update checkbox is checked off the accounting system will not over-write the purchase price. If Manual Update is not checked off you could lose this figure.
Ordered Unit Received
When the ordered vehicle is finally received by your dealership you will do the following:
- On order – Unchecked
- Purchase Date – Filled in with purchase date of unit
- Status – Set to Received
- Purchase Price – Filled in with actual purchase price of unit
- Floor plan – Filled in with actual floor plan amount (if applicable)
- Manual Update – Unchecked.
- VIN # – Filled In
- Flooring a Stock Unit: If you wish to floor the vehicle immediately click on the Accounting Transactions tab and then click on the “Create Accounting Transactions” button.
This will generate an accounting entry to purchase the unit and floor it at the same time. You can edit this entry from this screen further if you wish.
Printing a Check for a Stock Unit: Save and exit the unit inventory screen and click on Accounting>Write Checks/Drafts. Create a check for the supplier of the unit (Manufacturer, Auction House, Etc.) and select Stock Purchase from the Type dropdown in the check screen.
Once you switch the check type to standard you will see a list of all vehicles in your inventory. You can then select the vehicle you wish to purchase and hit Pay or fill in the pay amount on the right-hand side of the screen for the unit.
- Generating a Payable Entry for a Stock Unit: The third way you can update the purchase price in vehicle inventory is to generate a Payable for it.
Save your changes to the vehicle and exit the unit inventory screen. Then click on Accounting>Tools>General PO and AP Invoices>General PO. Once you have the PO onscreen, fill the vehicle supplier (manufacturer, auction house, etc.) in the entity information box at the top of the screen. You can then fill in the following:
Entity Reference – Invoice number for the unit
GL Account # – Needs to be an AP account, I would suggest creating a separate AP account for vehicle purchases
Date Received – Will show up as the invoice date in accounting and will be used to generate aging.
Description – A description of the vehicle you are purchasing
Cost – The cost of the unit
Stock Number – The stock number of the unit.
Tax information – if the vehicle is taxed you can compute it in the lower right-hand portion of the screen or over-ride the taxable amount.
Once you have the PO filled in you may do one of the following:
- If you hit “Order Now” at the bottom this will generate a Purchase Order for the unit, but it will not generate a purchase entry for the stock unit until you hit receive on the PO.
- If you hit the “Order/Receive” button this will both order and receive the PO at one time.