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December Tips and Tricks (Dec. 12, 2019)

Autosoft -

Sales and F&I Tip: Performing a Physical Cycle Inventory

It may seem like editing a finished deal and unwinding a finished deal do the same thing, but they don’t. Each option affects the deal differently, and there are specific scenarios when you would want to edit the finished deal and scenarios when you would want to unwind it. This article helps you understand each option and provides guidelines for when to use each one.  

Understanding the Difference

Editing a deal allows you to change deal information without sending the deal to Accounting again. The status of the deal doesn’t change when you edit it, nor is the vehicle’s inventory status affected. The vehicle remains inactive and is no longer a part of your vehilce inventory. You are simply given access to edit information. When you are done editing the deal, the system locks the deal again. The edited deal is not sent to Accounting.

Unwinding a deal, on the other hand, reverts the deal back to an active state. This also affects the vehicle’s inventory status, so the vehicle will be added back to the active inventory. The deal will be sent to Accounting again once you work through the process of editing the deal and moving to back into its finished status.

The following table provides a quick overview of how each option affects a deal.

  Edit Finished Deal Unwind Deal
User can edit the deal information Yes Yes
Action affects the deal status No Yes
Action adds the vehicle back into active inventory No Yes
Completion of the process sends the deal to Accounting No Yes

 

Knowing When to Edit or Unwind

There are two key factors in determining when to edit and when to unwind the deal: the status of the deal in Accounting and what you need to edit.

 

The Accounting Status

You should NEVER unwind a deal that has been posted to the books in Accounting. Doing so adds the deal back to the deal list. This causes several issues for the Accounting Department as this can affect the deal status on the vehicle record—causing the status to change from booked (3) to sold (2). This affects how the vehicle is handled by the system and can cause other issues with inventory records not properly being removed at the end of the month.

If a deal has been posted and requires edits, use the Edit Finished Deal option to make the necessary changes to the deal. You will need to communicate the changes to the Accounting Department so the necessary adjustments can be posted to the deal.

 

What Needs to be adjusted?

If the deal hasn’t been posted by Accounting, you can use either the Edit Finished Deal or Unwind Deal option depending on what you need to edit.


If you need to edit non-Accounting information, you should use the Edit Finished Deal option. For example, you would use this option if the vehicle odometer is incorrect and you need to fix it and print a new form.

If you need to edit information on the deal that affects the deal values, you should use the Unwind Deal option. For example, you would use this option if you need to edit anything that affects prices or cost.

 

BONUS TIPS

Editing a Finished Deal
Unwinding a Finished Deal

 

Fixed Ops Tip: Performing a Physical Cycle Inventory

With year end approaching, you should be getting ready to do a full cycle inventory. Use the instructions linked below to help you complete your cycle inventory with ease.

Click here to view instructions for completing a full cycle inventory.

 

BONUS TIPS

Archiving Parts Counter Slips
Archiving Repair Orders

 

Accounting Tip: Performing a Physical Cycle Inventory

The end of 2019 is coming quickly, and that means year-end closing processes! There's no need to fret. Autosoft has created the usual year-end closing documentation to help make the process easier. Use the following link to download the information.

Download the 2019 Year-End Closing Documentation

 

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