Accounts Questions

By default all reconditioning costs go to the Recon Purchases COS account, other than Qld Transport expenses, which go to Registration Purchases.  By using Item Codes however, different types of Recon can be directed to specific COS accounts.  

This happens when a reconditioning purchase is dated after the sale date and is not a result of anything different you have done.  Normal reconditioning activity assumes the reconditioning purchase date to be equal to or less than (before) the vehicle sale date.  The reconditioning purchase Debits the Reconditioning Asset account, and the Sale of the vehicle later Credits or clears the amount out to Cost of Sales.

When the Reconditioning Purchase occurs after the Sale, it is Debited to the Recon After Sales account, and the Sales journal Credits the amount from that account rather than the usual Reconditioning Asset account.  The purpose is to avoid the situation where the Sales journal has Credited the Reconditioning Asset account BEFORE the amount has been debited, meaning that if a reconciliation is done between those two dates the account would be "short" by the amount of that Reconditioning item.  Note that if all settings are correct, Recon After Sales will first be Credited by the Sales journal and later Debited by the purchase so all amounts are cleared out in time, and nothing is left behind.

Create a new Liability account to reflect the bank loan.  The term of the loan will determine whether it should be in Current (less than 1 year) or Long-Term (longer than 1 year) Liabilities.  Once the account for the loan is created record the money coming into the main trading account either via a Receipt entry (allocate the entry to the bank loan account), or via a Transfer Money entry.  Interest charges can be applied directly to the loan account via a Cash Payment or General Journal entry, and payments made can be recorded via a Receipts or Transfer entry.

Create a General Sale entry to the same Customer, and allocate the line item to the Bad Debts Written Off account.  Enter the amount as a negative (minus) for the full amount outstanding with a tax code of GST.  Process and Pay, then allocate both outstanding sales (one positive, one negative) against each other and record the $0.00 Customer Payment.

An Accountant can retrieve data for as many clients as necessary.  Each time they an additional client’s data is retrieved the data file will contain that subsequent client’s licence file.  When the Accountant logs into Dealerlogic select which data file is required. Note there will always be a licence file that represents the Accountant themselves, and this is rarely selected other than for evaluation or troubleshooting purposes.

This is most often caused by recording a payment against a Sale (or Purchase) where the status of that Sale (or Purchase) is “Order” rather than "Invoice.   In order to locate, use the Sales (or Purchases) Register and check the "Orders" tab for transactions with a Sale (or Purchase) total, but no amount outstanding.   Open transaction and click “Convert to Invoice”.  This will fix the discrepancy.

If you have made payment then it cannot be deleted as it will appear on a bank statement and you'll need to reconcile it.  Rather than Delete it, use the "Remove" button on the Vendor Payment to disassociate the payment from the original purchase.  The Payment will be retained for your Bank Reconciliation, but it will be allocated instead to the "Return to Vendor Refunds" Asset account.  From there, it can be handled in a couple of ways.  If you receive a refund, then apply the Receipt to the "Return to Vendor Refunds" account thereby clearing out the original payment.  If you want to apply the payment as credit against a future purchase, create a "Bill" from the same Vendor, apply it to the "Return to Vendor Refunds" account, and enter the payment amount as a negative (minus) with no GST (GNA).  That will clear out the "Return to Vendor Refunds" account, and the negative Bill can be applied against any future purchases as a credit.

Typically this type of contribution would be shown in your accounts as a Loan from the Owner to the business.  It would be a Liability account, and the exact name of the account is up to you and your accountant.  Create the transaction via a Receipt entry into your business bank account, and allocate the line item to the Loan account you have created.

Typically this is when the Opening Accounts Receivable and Payable items have been entered with either their original date, or a date that is prior to the Opening Accounts Balance date (as set in Preferences).  The date entered for Opening Accounts Receivable and Payable items should correctly be the Opening Balance (or Conversion) date because that is the date at which they became "Opening".  This is regardless of the original date of the purchase or invoice.  Adjusting these dates will remove the listing from your Database Integrity Check.

Dealerlogic doesn't permit direct entry to either the Accounts Payable or Accounts Receivable control accounts.  To do so would cause a discrepancy between the itemised Accounts Receivable/Payable and the total of the associated General Ledger control account.  If the itemised Accounts Receivable/Payable balances to the General Ledger then advise your accountant of this and ask that the adjustment be made some other way.  If the itemised Accounts Receivable/Payable do not balance to the General Ledger, then identify the problem and rectify it rather than journaling it out.

If the transaction is a Cash Payment, Receipts Entry, General Journal or Transfer Money then simply locate the transaction via the appropriate Register, edit and change.  If the transaction is a Vendor Payment or Customer Payment you will need to delete and re-enter the transaction.  Also, if the transaction was included in a Bank Deposit, then you cannot change the bank account without deleting the Bank Deposit transaction with which this transaction was included.

The End of Financial Year utility in Dealerlogic will move the Profit earned for the Financial Year in to the Retained Earnings account.  Until such time as the Financial Year is rolled, the Profit Earned this Year account on the Balance Sheet will hold values for the total Net Profit for all un-rolled Financial Years.

This is where the supplier of the goods cannot provide a tax invoice and is allowed for by the GST law only under certain circumstances.  Either:  both the supplier and the recipient of the goods have made an agreement that the recipient will issue an RCTI; or the recipient of the goods has an annual turnover of $20M or more or is part of a group that has an annual turnover of $20M or more.  To produce an RCTI first indicate you can do so via the Program Config, GST settings tab:  tick Approval for RCTI.  Then any recorded Purchase Invoice when printed becomes an RCTI.

A sale can be raised to issue an invoice for any goods or service that the dealership provides.  Use either a General (enter the description yourself) or an Item (select an item code from the list) Sale, and choose the correct account to allocate the income to.  If the sale relates to a service provided then the account would nusually be an Income account, but if the sale relates to a business asset, such as Plant & Equipment, or Motor Vehicles (that are not part of trading stock), then apply the Sale to the Asset account in the GL in which the asset is currently held.

To do this you'll need an account that has the attribute of Title.  This account will be displayed green in your list of accounts.  The accounts that form part of the group are created underneath - use sequential Account Numbers to achieve this - and use the Indentation slider bar to drag them to the right.  All accounts indented in line underneath the Title account will return a sub-total for the Title account.