Depending on setup and priority it is possible to take deposits and print a receipt from Sales ledger, Vehicle stockbooks or within the VOSA creation.


The process is the same for each of these and is explained how this is done in each of the sections

When the vehicle is invoiced out, the system will automatically offset the deposit amount from the vehicle debtors account.


Sales Ledger

If a deposit is required to be added to the invoice, a Sales Ledger Deposit must be taken:

Go to the Sales ledger menu and select Take Deposits.  



The following screen will appear :



  • Select the header tab
  • Select the New Deposit icon  you may get a warning message that the posting date is after the current period (check with the dealership accountant but this will probably be ok) then complete the fields as follows:

  •  

    • Check the Location field it should default for your branch (if it is not, change it to the correct one by clicking on the drop down arrow and selecting from the list.)

       
    • The Account, Name and Till Account fields will default in from the location you select.


Field

Description

Date   

This is the date that will print on the receipt

Payment type

Enter a valid payment type using the dropdown

Value 

This is the value of the deposit

Customer Name 

Type in the Surname of the customer giving the deposit, a search facility will activate allowing you to select either the Target or Company radio button for the selected customer. This will then pull through the customer’s name into the deposit screen.

Reference/Deposit Reference

This field can hold a further reference for the deposit – for example, Banking Sheet No, Order No or Vehicle Stockbook No and must be completed before the receipt can be printed

Sales executive 

Click on the ellipsis button to search for the sales executive who took the deposit.

VS company 

Enter the Vehicle Stock Books company, which will receive this deposit.

New/Used

By choosing the VSB company this will allow you to search for the relevant stock record.

 



  • Select the Process icon from the toolbar, which will print a receipt on the nominated printer.
  • If you have more than one Deposit to take you can select the New Deposit icon  again and repeat the process.
  • Choose Exit to return to the Sales Ledger menu.

 

 

Postings that will take place when the receipt is printed:

Debit Till account as specified in GB.location. 

Credit Sales ledger control for deposit account

 

When the money is banked this is then posted between the bank account and the Till account.

The postings for this transaction are:

Debit Bank

Credit Till account as above

 

 

This will stay in the SL deposit account as unallocated until this has been added and invoiced out onto a vehicle



Adding the Deposit to the Stock Record

If you have completed the CRM details on the Sales Brief and within the Take Deposits screen.  The system will automatically enter the deposit information into the finance details screen.  If not you can add the deposit to the stock record:

 

  • Select the tab Finance details, right click on the empty cell in the Deposit ref area.  Two prompts will be displayed as shown below:




  • Select search deposits you will be shown all deposits, which have been processed and linked, to the customer’s record via the sales ledger take deposits option.

     
  • Select the deposits you require then click on OK 

 

 

Once the Vehicle invoice has printed and daybooks have posted the following will occur:


Sales ledger deposit account:

The system will allocate the receipt/ payment




The vehicle debtors account will be reduced by the deposit value



Postings for the above transactions are:

Debit Sales ledger control for deposits
 Credit VSB default bank account

 

The total of the VSB sales invoice is posted to the invoice account on the Sales ledger as normal and the deposit is allocated against this to reduce the amount outstanding.

 

The postings for this transaction are:

Debit VSB default bank account
 Credit VSB Sales ledger control