Part-exchanges, deposits and finance: keeping the numbers straight

Most car deals aren't a simple price-in, price-out. Throw in a part-exchange, a deposit and a finance company and it's easy for the numbers to get muddled. Here's how to keep them clean.

Part-exchanges

A part-ex is really two transactions in one, you're buying a vehicle and selling one. Recording the part-ex value properly matters for both the deal and your stock book.

Deposits and finance

Deposits reduce the balance due, and finance means part of the money comes from a lender, not the customer. Keeping these clear on the invoice and in your accounts stops reconciliation headaches later.

• Record the part-ex as incoming stock at the agreed value.
• Show deposits and finance separately on the invoice.
• Reconcile what actually lands in the bank against each deal.

The takeaway: complex deals are fine when the system handles the moving parts. ForecourtX keeps part-ex, deposits and finance straight so your books always tie up.