All purchased stock items (vehicles) must be paid for using the Vendor Payments function. Regardless of when the payment was actually made (I.e.: on the spot, same day, a week later etc), the payment can only be recorded using Vendor Payments.
Creating a Vendor Payment transaction depends on a purchase having been previously created. This happens by bringing the stock item into stock. All stock cards (except for Trades & Consignment Vehicles) create an accounting Purchase transaction that can be paid later by using the Vendor Payments function. To check that a Purchase has been created, open the stock card for the item and view the Purchase Invoice details displayed on the Purchase Tab (the Purchase number will be displayed on the Purchase Tab next to the Purchase Invoice button).
Note: A description on the Purchase Tab other than Purchase Invoice (E.g.: Historical Entry, Opening Entry or Purchase Order) indicates that no accounting Purchase has been created. Historical entries & Opening entries must have their payments made towards Opening Accounts Payable. Purchase Order indicates the stock item’s status is On Order, and if payment must be made whilst this status is current, click the Purchase Order button, and select Create. This will allow you to apply payments towards a stock item that is not yet In Stock.
•Open the Vendor Payments window from the Dealerlogic Accounting menu or the Purchases Tab of the Logic Centre. •Select the correct Vendor and enter the payment method & cheque number if applicable. •Enter the payment amount for the correct Purchase entry (if necessary look for the Purchase Number as viewed earlier on the stock card). •Print Remittance Advice if necessary. •Click Process. |
Creating a Payment from the stock card
Open the Purchases tab of the stock card and go to the Payment Detail button. Press the Vendor Payment button shown on the bottom. This will open a Vendor Payment window with the correct details of this stock item showing ready to be Processed. |
Creating a Payment from Payables
When viewing an amount owing within the Accounts Payable window, use the Vendor Payments button to load a new Vendor Payment with the details pre-filled for the particular line item you were viewing. |
Creating a Payment from Vehicle Creditors
When viewing an amount owing within the Vehicle Creditors window, use the Vendor Payments button to load a new Vendor Payment with the details pre-filled for the particular line item you were viewing. |
Creating a Payment from the Purchases Register
When viewing an amount owing within the Purchases Register window, switch to the "Open" tab at the top and then use the Vendor Payments button to load a new Vendor Payment with the details pre-filled for the particular line item you were viewing. |
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