A Negative Deal occurs when the value of the vehicle being purchased is less than the value of the trade vehicle. As a result, when the deal is complete you will owe the Customer money.
1. Complete the Inventory and Trade Information on the Deal Form, including the Trade Allowance
EXAMPLE: Selling Price of Vehicle, $15,292.00 add the Trade Allowance of $20,000 equals a negative Net Selling Price.
2. Select Cash in the Funding Section
NOTE: The Contract Price shows a negative amount, which is owed to the Customer. DO NOT enter a deposit for this amount to zero the Contract Price.
IMPORTANT: The QuickBooks Map Code NT should be assigned accordingly.
IMPORTANT: If the NT line Item does not appear on the List Unposted Deals Window, click the link at the bottom to add the line and key the Contract Price Amount in the Rate Column.
NOTE: The Contract Price is outlined in red and the items outlined in yellow represent the cost of the vehicle being sold, along with any add-on costs.
RESULT: A message will popup; "The Invoice was created in QuickBooks.
NOTE: Once this amount has been paid to the Customer, the deal is complete.