When adding a Finance amount to a customer order (as below) a change has now been made to update the way this displays in the Vehicles > Reporting > Accounts > Debtors report, as well as on the Vehicle Stock Card found in Vehicles > Reporting > Stock Cards. The Outstanding Debtor value will be created once the vehicle has been invoiced using the normal process.
When going into the Vehicles > Reporting > Accounts > Debtors report a new filter has been added so you are now able to report on ‘Debtor Type’:
As you can see above you now have the option to report on ‘Invoice’ or ‘Finance’ as debtor types.
‘All’ shows the total debtor value on the stock card:
‘Invoice’ will displaying any outstanding Debtor value owed to the dealership by the customer themselves:
‘Finance’ will display any outstanding Debtor value owed to the dealership by a Finance company:
When going into Vehicles > Reporting > Stock Cards and into the relevant stock card, on the Accounts tab you will now be able to see in the Debtors’ section there is now an additional line to display the separate Finance debtor value with a type of Finance (Invoice), previously this would have displayed as only one line of the total debtor balance, with a type of Invoice.
This allows you to clearly see where the money owed to you is sourced from.
There has been no change to the way the postings are made when adding Finance to a customer order, only to the reporting. To clear the Finance debtor, a Cash Book receipt will need to be posted with a type of ‘Finance’ as normal, however it is important that you ensure the type of Finance is selected when doing the Receipt posting so the debtor value is cleared off from the reporting correctly. To clear the Customer debtor, the receipt will need to be posted using a type of ‘Customer’.
Below is a description of what each ‘Type’ in the Type column on the Stock Card debtor report means:
Outstanding Finance balances are calculated from the following posting types:
- Finance – from Cash Book Receipts with a type of ‘Finance’
- Finance (Invoice) – from the Vehicle Invoice process
- CANCEL Finance (Invoice) – from the cancellation of a Vehicle Invoice
Outstanding Customer Debt is calculated from the following debtor types (everything that is not a Finance type):
- Invoice – from the production of the Vehicle Invoice
- CANCEL Invoice – from the cancellation of a Vehicle Invoice
- Customer – a receipt from a Cash Book
- Customer REFUND – a payment to the Vehicle Debtor from the Cash Book
- Deposit - a deposits entry from the Customer Deposits process
- REVERSE Deposit – a deposit reversal from the cancellation of a vehicle invoice, refund of a deposit or other process that reduces the deposit value in the vehicle debtor
- Part Exchange – the value of a part exchange vehicle from the Bring Into Stock process
- REVERSE Part Exchange – from the reversal out of stock of a Part Exchange Vehicle
- HP Settlement – from the Bring Into Stock process in relation to a Part Exchange Vehicle
- REVERSE HP Settlement – from the reversal out of stock of a Part Exchange Vehicle