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 $20,0.00 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.
IMPORTANT: The QuickBooks Map Code NT should be assigned accordingly.
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.
Related Articles:
Accepting / Refunding a Deposit on a Deal
Cancel Deal "Undo Sale & Restock" Inventory
More Than Three Trades to a Deal / Quote