Posting a Settlement Payment for a Part Exchange

This guide explains how to post a settlement payment in Navigator when a part exchange (PX) vehicle has outstanding finance. The settlement process ensures that the payment to the finance company is recorded correctly, affecting the vehicle debtor balance and internal reconciliation reports.

Step-by-Step: Posting a Settlement

1. Open the Stock Record

• Launch Navigator.

• Locate and open the vehicle stock record where the PX applies.

2. Go to the PX Details Tab

• Select the PX Details tab from the stock record menu.

• This tab contains all part exchange-related information.

3. Click Post Payment

• Click the Post Payment button.

• A pop-up window will appear to process the settlement.

4. Confirm Agreement Number

• The agreement number should be pre-filled from the sales order.

• If it is missing, you must enter it manually before continuing.

5. Select Payment Method

You have two options:

• Cheque

• Contra

A. Cheque

• Enter the cheque number.

• Select the appropriate bank from the dropdown.

  • If only one bank is set up, it will be selected automatically.

B. Contra

• Select Contra from the dropdown.

• No cheque number or bank selection is required.

• Contra payments:

  • Do not affect the bank

  • Only impact the vehicle debtors position

6. Set the Payment Date

• Choose the payment date from the calendar picker.

7. Finalise the Payment

• Click the Post button to complete the transaction.

• The Post Payment button will now change to Reverse Payment, allowing you to cancel the entry if required.

Summary

Posting settlements correctly ensures that dealership finance obligations are recorded against PX vehicles and reconciled accurately within vehicle debtors.