Difference between revisions of "How do I Finance Clothing Items?"
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* [[How do I Deal with Settlement of Financed Clothing?]] | * [[How do I Deal with Settlement of Financed Clothing?]] | ||
* [[How do I find a stock code?]] | * [[How do I find a stock code?]] | ||
| − | * [[How do I | + | * [[How do I find a customer?]] |
* [[Selling Parts over the Counter]] | * [[Selling Parts over the Counter]] | ||
{{KB_Tags|finance, clothing, items, sell, invoice, company, item, financing}} | {{KB_Tags|finance, clothing, items, sell, invoice, company, item, financing}} | ||
{{ZN_PartsCounter}} | {{ZN_PartsCounter}} | ||
Revision as of 06:29, 8 January 2019
Contents
Summary
This article will guide you through selling items of clothing on finance to a customer.
More Information
In order to finance clothing items out of the system you will need to:
Create a Finance Company Control Centre
You will need to create a new Nominal Centre for each Finance Company that you will be dealing with when issuing finance on Clothing items.
- To create a Finance Control Centre you will need to:
- Go to " Nominal Ledger Maintenance Options Centre Maintenance Add or Edit Nominal Centres".
- Click [Add] or press <F6>.
- On "Code:", enter a nominal code for the Finance Company e.g. '19851'.
- On "Name:", enter a name for the Finance Company e.g. 'Black Horse Clothing Fin. Ctrl'.
- Set the "B/S" to be 'Asset/Liability'. Leave the "P/L" alone.
 | You could enable the "Reconciled?" check box if you want to reconcile the centre. |
- Once complete click on [Done] or press <Esc> and click [Accept].
Selling Clothing Out on Finance
Now that you have created the centres, agreed terms with the customer and finance company and filled in all the forms necessary for the finance company you will need to:
- Sell the clothing over the counter as you would do normally making sure that the items are being sold to the customer's account, not just to a Cash Sale account.
- On the "Payments" screen, enter any payment being taken from the customer. For example, Invoice total is £1200, Customer is paying £200 on Credit Card and £1000 is being financed. Enter £200 against the "Credit Card" payment option.
- Now against the prompt "K", enter the centre you created for the relevant finance company, e.g. '19851'.
- Enter the amount to be financed in the "Paid" field. Using the example above, this would be '£1000'.
- In the "Comment" field, enter either the reference for the finance from the Finance Company and/or the customer's account code, e.g. 'ABC123XY-SMI001'. 'ABC123XYZ' would be the reference code from the finance company and 'SMI001' would be the customer's account code.
 | The reason for doing this is to make your life easier when auditing the payments done via this centre and for whom/what they were done. |
- Once happy complete the transaction as per normal by clicking [Post] or pressing <F7>.
This will pay the invoice off the customer's account and put the amount into the Finance Company Clothing Finance Control Centre. This will be cleared off when the Finance Company pays you.
- See here for more details.
See also
- How do I Deal with Settlement of Financed Clothing?
- How do I find a stock code?
- How do I find a customer?
- Selling Parts over the Counter
