Accounting Tip: 2019 Year-End Closing Manual Coming Soon
The 2019 Year-End Closing Manual will be released in December. This manual will guide you through closing your books and payroll for the year. When the manual is available, it will be posted in the news feed on the Autosoft DMS startup menu. Download it and read it fully before beginning your year-end closing process.
Do you need W-2 forms? Autosoft's Dealermarket.com offers competitive pricing. To order yours, visit Dealermarket.com.
Fixed Ops Tip: Printing a Service Parts Sales Report
Did you know that as of DMS Release 7.6.8 you can print the service parts sales for a specific date range to track parts sales through the Service Department? Learn more below!
The Sales Report menu has a Service Sales report that allows the Parts Department to track parts sales made through the Service Department for a date range. The report can be printed to a printer or to screen as well as exported to a CSV file for viewing in Microsoft Excel. If exported, a CSV file named SERVICESALES is saved to C:\ASIXL for dealers using a standard setup (a server is onsite at the dealership) or K:\ASIXL for dealers using a hosted setup (Autosoft hosts your server). (The exported report does not include the totals.)
The report lists the customer pay, internal pay, warranty pay, and total parts sale amounts per repair order in the date range specified. The end of the report includes the totals for each category as well as the overall total parts sale value and the average part sale value per repair order.
Sales and F&I Tip: Desking a One-Pay Lease
The one-pay lease is rare, but when you need to desk one, it can be frustrating to remember all the nuances of the one-pay lease deal. Don't fret! This articles provides all the tips you need to make your next one-pay lease a breeze! In fact, it takes just three steps.
1. Selecting One Pay as the Payment Type
The first step when creating a one-pay lease is to select One Pay as the Payment Type. This is required to make sure the system uses the proper calculations for the deal. Note that the Term field should still reflect the actual length of the lease.
2. Make all Items Due at Inception
Next, open all of the modals for any additional items added to the deal and taxes and fees on the deal and change the Payment toggle for the item so it is due at inception rather than added to the payment. The Payment toggle should be gray to indicate it will be due at inception and not added to the payment.
For taxes, you will set the In Payment toggle to No to make the items due at inceptions. This ensures that any additional tax added to the deal as well as the tax on cap reduction will be added to the inception amount. You can verify this by ensuring the total tax amount appears as the total for the inception taxes.
You will know you have completed this step correctly when all the deal items above the Subtotal appear in the Inception column of the deal. Only the selling price amount should display in the Financed column.
3. Roll Any Rebates and Trades Into Inception
Finally, you need to roll any rebates and trades on the deal into the inception amount. To do this, Click Roll on the Desking Page.
On the Roll Deal modal, ensure Inception is selected under Roll. Then, simply select a roll priority for the rebate and trade. The order doesn't matter, but both need to have a priority in order for for roll to work properly. Once you have selected all the information, click Roll.
The rebate and trade amount will move from the Cap Cost Reduction column to the Inception Reduction Column. The Inception Amount will also increase. Click Apply.
The rebate and trade amounts will move to the Inception column on the Desking page. At this point, every item on the deal should display in the Inception column. The only value that remains on the Financed side is the selling price. (You can ignore the Payment amount under the Financed column as it is not applicable to the one-pay lease.) Your one-pay lease is now ready.