Used vehicle retail sales price explanation and how to amend the value

Modified on Thu, 12 Oct 2023 at 12:01 PM

Used vehicles – Retail/Sale Price

The retail/sale price in the top right-hand corner of a used stock vehicle should be populated before the vehicle Is sold and invoiced.

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If this is not done correctly, the nominal postings will be incorrect (As shown below by the accounting examples).

If the retail/sale price is not entered before the vehicle is sold or invoiced then the sale needs to be reversed.
 

 

To update the retail price


If the vehicle is invoiced, you need to credit the invoice and cancel the sales order.

If the vehicle is not invoiced, simply cancelling the order will allow you to enter/overtype the retail/sale price. 

 

 

Accounting Examples 

 

Example 1 (Correct) 

 

Retail Price £10,00
 

Sold for £9,000 

 

System populates two codes for the sale of the vehicle (Codes populated when deal closed). 

 

1.31.10.30 

Retail 

-£10,000 

1.31.20.30. 

Discount 

   £1,000 

 

Net Sale 

  -£9,000 

 

---------------------------------------------------------------------- 

Example 2 (Incorrect) 

 

Retail Price £0 

 

Sold for £9,000 

 

System populates two codes for the sale of the vehicle. 

 

1.31.10.30 

Retail 

   £0 

1.31.20.30. 

Discount 

 -£9,000 

 

Net Sale 

  -£9,000 

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