The Vehicle Purchases button on the System Setup menu opens the Vehicle Purchase Setup menu. The vehicle line numbers should have been set during the Accounting Inception Entries setup, but you can use this menu to add additional lines or edit the existing ones. You can print the parameters to review them to identify any information that must be added or edited.
Use the Enter Purchase Journal Accounts button to create or edit car lines and to set default information that will be used when entering vehicles into your inventory. The car line consists of a number (1 through 9) and a letter (A through Z). You can enter up to 234 car lines. Generally, you will have one car line for each general ledger Vehicle Inventory account, except Demo. It is recommended that you start with 1A for your primary franchise and that you use 8A for used cars and 9A for used trucks, if applicable.
Step 1. From the Dealership Accounting main menu, click Setup.
Step 2. On the System Setup menu, click Vehicle Purchases.
Step 3. From the Vehicle Purchase Setup menu, click Enter Purchase Journal Accounts. A warning appears to remind you that you must enter the parameters using the criteria specified. Click OK to acknowledge the message. The Vehicle Purchase Parameters screen opens.
Step 4. In Car Line, type the number for the line and enter the letter for the line in the Suffix field.
Step 5. In Make, type the vehicle make for the car line.
Step 6. In Current Model Year, enter the current model year for the car line.
Step 7. In New/Used (N/U), type N for new or U for used to indicate the vehicle type for this car line.
Step 8. In Journal, type the journal number that will be used for vehicle purchases. Use journal 70 for new vehicle purchases and journal 71 for used vehicle purchases.
Step 9. In Pack, type the amount or percentage of the dealer pack for this car line. The dealer pack is also known as the lot fee. It is the amount added to the cost when calculating the salesperson’s commission gross. This is not an accounting figure.
Step 10. In Prep, type the dealer prep amount. This is the amount added to the sticker for items such as rust proofing, fabric protection, etc. This is not an accounting figure.
Step 11. In G/L, enter the general ledger accounts used for debits and credits. Be sure to enter the parameters according to the following criteria:
• The first debit line is reserved for Holdback.
• The second debit line is reserved for Advertising.
• The last debit line is reserved for Vehicle Inventory.
• The first credit line is reserved for Floorplan.
• The second credit line is reserved for Cash Purchase.
• All of the other lines may be defined as needed.
Step 12. In the Desc. field, type a description of the general ledger account you entered. Some of the description fields have pre-entered descriptions that can be edited as needed.
Step 13. As you enter accounts, the C/W field displays an S for stock number or V for the last six digits of the VIN to indicate the control for the account. This is based on the control entered for each account in the general ledger setup.
Step 14. The Floorplan Pre-Delivery (Ford) (Y/N) field is for Ford dealers only. Type Y for yes or N for no to indicate if the floorplan requires pre-delivery payment.
Step 15. Click Save to save the information. It appears in the list on the right side of the screen with any car lines entered during the Accounting Inception.