Receipt payment for a consignment vehicle

As for a non-consignment stock item, the customer’s payments must be recorded in Accounting.

•Open the Customer Payments window.  This can be done from either:

The Payment Detail button on the Settlement tab of the stock card;

Following the issue of a Dealers Receipt for the Balance Payable on the stock card;

The Accounts Receivable window;

The Vehicle Debtors window;

The Open Invoices tab of the Sales Register;

The Customer Payments button.

•Ensure the correct account is selected to receipt Trust Account funds, use Add to Trust Account Deposit in order to later prepare a Bank Deposit;

•If the Customer Payments window is opened from via the stock card, the consignment status of the vehicle will prompt the correct account to be selected;

•If the Customer Payments window is opened from elsewhere, you will need to select the correct account for Trust funds manually, based on the visual prompt Tr Rec indicating the sale is a Trust Receivable.

Where there is a second sale invoice visible that represents Extras sold to the Purchaser, ignore that line item when recording the Customer Payment from the Purchaser into the Trust Account:  ALL monies received from the purchaser MUST be receipted to the main sale transaction.  The second sale entry is paid for by the trust account “paying” the money back to the dealership at a later stage.  See Pay yourself for commission and other items.

•Enter the correct receipt date, method and reference if any and process.