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Quotes Accounting - Deal

Accounting - Deal

Purpose
This screen is where new deal accouting journals are created and possibly exported to ALMSys Accounting.

Layout
If this journal is being backdated to the prior month, then check the Backdate posting? box.

When the screen is initially entered, the Before the Initial Load ... box is filled in from the accounting defaults found on the defaults screen. You may alter this data as needed.

Click the Initial Load, the Re-Lease, the Lease from Inventory, or the Sale from Inventory button to begin the process. (If there is data already in the grid, it will be completely wiped out as if you are starting over.) The initial load creates the following entries:
  • Funding receivable
  • Trade In inventory
  • Cash due on delivery (for cap. cost reductions and for sale from inventory -- replaces funding receivable)
  • Trade In Lienholder payoff 
  • Warranty Fees income
  • Resale Products payable and income
  • Miscellaneous charges detail records (from cap. and non-cap. entries)
  • Payoff payable to selling dealer (For a re-lease, the payoff is to the PayoffPayableReLease accounting code. It will also itemize out any accounts payable items, such as license fees.) (For a Lease or Sale from Inventory, the payoff is to the PayoffPayableInventoryLease accounting code. It will also itemize out any accounts payable items, such as license fees.)
  • Sales tax payable
  • Lease depreciation start value (based on net capitalized cost) (leases only)
  • Profit breakdown
  • Payment due on delivery breakdown (principal, interest, security deposit, and any taxes) (ledger accounts are in ALMSys Location Settings and AMPTax ledger information)

    If there was a lease turn-in as part of this deal and the deal is NOT a re-lease NOR a lease from inventory, then click the Add Lease Turn In button. (The Re-Lease button will automatically go through these steps.) This will perform the following steps:
  • You will be provided with a list of vehicles from ALMSys, based on the trade in VIN, to choose from that identifies the vehicle as the lease that was turned in. Please select the correct vehicle from the list provided.
  • You will be asked to provide the amount of the payoff for the leased vehicle that was turned in.

    Based on the answers you provided, the following entries will be made:
  • Lease payoff
  • Accumulated depreciation
  • Lease depreciation start value
  • Gain/Loss (calculated as Lease Payoff + Accumulated Depreciation - Lease Depreciation Start Value)

    If you had to extend a line of credit for the deal, then click the Line of Credit button The following entries will be made:
  • Note Payable for the line of credit
  • Cash for the line of credit

    The amount used for the line of credit will default to the amount paid to the selling dealer. 

    Editing Screen Entries
    All data on this screen may be edited, added to, and/or deleted. 

    To edit an entry, double click on it in the grid. You will be taken to the Add/Edit Accounting Entry Details screen.

    To add a new entry, click the button at the top of the grid. You will be taken to the Add/Edit Accounting Entry Details screen.

    To delete an entry, select it in the grid and click the button at the top of the grid. Use the Delete All button to delete all entries.