INTRODUCTION TO CUSTOMER ORDER - UNIT DEAL TRADE IN WITH LIEN PAYOUT


We have introduced two new fields in the Trade In section of a Customer Order > Unit Deal - Trade In - to allow the Dealership to record that the trade in unit still has $$ owing to a finance company (Lien Payout).


The two new fields are:


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Once an amount is typed in the Lien Payout field, the 2nd new field populates - Finance Company.

This is for the Dealership to record which Finance Company is still owed $$ to for the Trade In unit.


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The Trade In section will now look like this:


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If there is no Lien Payout, then you would leave the Lien Payout field at zero.


Additional Info:

  1. If the Finance Company is not listing, then you will need to review and see if you need to:
Click on one of these links for assistance on adding a Product and Service to a Vendor record:
Video - How to Setup Products and Services of a Vendor
How to Setup Vendor Products and Services
  • If the Vendor already exists in the system, you will need to navigate to the Vendor Record and add a Product and Service (Finance Company) to the Vendor.
Click on one of these links for assistance on adding a Product and Service to a Vendor record:
How to Setup Vendor Products and Services
Video - How to Setup Products and Services of a Vendor
  1. If you have Accounting Integration - there is a new Control Account that you will need to update - Lien Payout Clearing.
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Remember that you may want to create a new Chart of Account GL in your accounting package for this new Lien Payout Clearing account. 
If you do create a new Chart of Account GL in your accounting package, you will need to sync your Chart of Account  before it will be available for selecting in the Lien Payout Clearing field.

What does this Clearing Account do?
  • This is basically a clearing GL that Blackpurl needs to post the Lien Payout to.
  • The Lien Payout will go into this GL for the system to automatically create a Vendor Invoice for the amount due to the outgoing Finance Company.
  • Note:  Lien Payout GL should always go back to zero.
  • An example of this clearing account in QuickBooks: 
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How do I payout the Finance Company?
  • When the Dealership needs to payout the Finance Company for the Lien Payout, there will be a Vendor Invoice already in your accounting package to allocate your payment to. 
  • An example of this Vendor Invoice in QuickBooks:
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