Stock Status Explained

When creating new vehicle stock you'll need to set the status of the vehicle. Different settings will change your accounting and how things are posted to your general ledger. Laws in different states will require you to handle consignment vehicle accounting in very specific ways. Consignment vehicles cannot incur costs or have Service ROs. 

Status Types

• Normal
  A vehicle you have purchased and intend to sell. (This will post acquisition details entered to your accounting ledger).
  
  
• Pending
  When you are purchasing new vehicle stock but have not received the vehicle or finalised the purchase. (This does NOT post to the ledger, hence acquisition costs and other details can be updated later... then updating the status to 'Normal')
  
  
• Pre-trade
  Should only be selected when bringing into stock through the trade in tab of the sale. This allows the dealership to sell the trade in before the customer has been delivered their purchase.
  
  
• Consign (Agent Sale)
  When you sell something on behalf of a customer, the dealership will hold the stock, but they do not own it and have not paid for it. They will pay out the owner on sale and keep a commission. (There are laws around using bank accounts when dealerships sell vehicles on consignment)
  
  
• Consign (Purchase on Sale)
  This status is similar to a consignment sale, but the dealership will pay for the vehicle only once sold and you pay an agreed price for it.
  
  
• Rental
  When a vehicle is in stock that will be used as a hire car for service. This will show under a different filter in the stock list and help to avoid being sold.
  
  
• Company
  Similar to the Rental, it is a vehicle the company own but aren't intending to sell, it is in stock but under a different filter.
  
  
• Incomplete 
  Incomplete and No post are pretty similar to Pending, add the stock but there's no accounting ledger postings behind them. This will not be used by most dealerships.

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