The Used Vehicle Repair & Service Setup process must be completed prior to processing.The Used Vehicle Repair & Service Setup process must be completed prior to processing.
When processing a Used Vehicle Trade-In, follow these steps.
1) If a Trade-In is to be processed it will be in conjunction with a Used Vehicle Sale. Follow the steps as described in “Processing a Used Vehicle Sale” above, through #2, do not post the sale.
2) On the Counter Sale, add the Used Vehicle Trade-In – Service Package.
a) Update the Material Line using the Supplied Item > Receive Item option.
b) Update the Receive Part for Work Order dialogue as follows.
i) Edit the Description using the Trade-In vehicle information, (i.e. year, make, model, etc.)
ii) Enter a Part Number using the Trade-In Vehicle VIN.
iii) At Supplier, select the Used Vehicle Trade-In Supplier.
iv) SI#, enter the Counter Sale # or, Customer Name or, Date or, Year, Make or Model of the Trade-In, as desired.
v) Edit the Sell Price to a Negative Value for the Trade-In Value. There is no cost.
vi) Select “Apply to Supplier Invoice.”
3) Verify all Charges, Taxes and Dollar Values, Post the sale
The sale has now been completed and the trade-in is ready to be entered into your inventory. Follow the steps below to enter the Used Vehicle Trade-In and adjust your accounting for the trade-in.
4) From the Used Vehicle Sales & Repairs – Profit Center and Used Vehicle Sale – Service Category, create a New Material Item for the Used Vehicle Trade-In.
a) Description = enter the vehicle year, make & model, engine & accessories as desired.
b) Part Number = VIN
5) Stock the Item to your Location.
6) Update the Material Item using the following steps.
a) Enter the Trade-In value at the Base Buy Price.
b) Enter the Sell Levels, as desired.
c) Recount the Material Item to 1
If you are not using the system General Ledger, the following adjustment procedures are not required. Effected General Ledger Accounts will include the Used Vehicle Sales & Repair - Profit Center, Service Category and Materials Growth, as shown below.
4405 – Materials Growth
5150 – Material Costs
General Ledger Adjustments are required to offset the Inventory Recounts.
It is in your best interest to make all adjustments immediately after processing the Vehicle Trade-In.
Follow the steps below to complete the adjustments.
1) Process the required General Ledger Adjustments using the following steps to complete the transaction.
The Recount for the Used Vehicle trade-in must be adjusted to Material Costs. This is the cost for the Used Vehicle Trade-In you have entered into your inventory. Below is an example adjustment.
a) The Inventory Recount posted $1500 to account # 4405 – Materials Growth. This $ amount must be adjusted to account # 5150 – Materials Cost. See example below.
