This article is Step 4 of Understanding Accounting Integration - Control Accounts > Stocked Trade Clearing


To see all the steps of Understanding Accounting Integration, please review - Understanding Accounting Integration




Step 4 - Control Accounts - Stocked Trade Clearing


  • This General Ledger Account is used as a clearing account and the account type is typically set up as a Current Liability and does not usually maintain a balance for an extended period


  • The Stocked Trade Clearing General Ledger is used when trade in/s which have been added to a Customer Order > Unit Deal, have been stocked in prior to the Unit Deal being invoiced



  • When the Trade In is stocked in prior to the finalisation of the Unit Deal, it will generate the following entry to your accounting package


Debit - Unit Inventory General Ledger 


Credit - Stocked Trade Clearing General Ledger


An example of the journal:

  • What this does, is stocks the trade in unit into stock and makes it available for Dealership to sell
  • In order to sell the Trade In, it must have a value in your Inventory
  • Once the Unit Deal is invoiced, Blackpurl will send another entry to clear the Stocked Trade Clearing General Ledger  



Restrictions

Accounting entries to this General Ledger Account should never be manually created in the accounting application  to this General Ledger as there should only be stocked in trade activities for Blackpurl