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Invoicing Our Own Vehicles For Resale?

Invoicing Our Own Vehicles For Resale?

Postby Freez » Fri Mar 03, 2017 8:55 am

We buy and sell used vehicles. I make a work order for all of the work we do on each vehicle so we can track expenses for each one. This leaves us with a balance owing at the end of the month that would require us to pay ourselves to clear up the amount owing. How does everyone work around that? Do you setup a different type of payment method? Any ideas would be much appreciated.
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Re: Invoicing our own vehicles for resale

Postby Sauvageaus » Fri Mar 03, 2017 10:35 am

Freez wrote:We buy and sell used vehicles. I make a work order for all of the work we do on each vehicle so we can track expenses for each one. This leaves us with a balance owing at the end of the month that would require us to pay ourselves to clear up the amount owing. How does everyone work around that? Do you setup a different type of payment method? Any ideas would be much appreciated.


I created a new "payment method" and label it " Shop Payment "
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Re: Invoicing Our Own Vehicles For Resale?

Postby ricmorin » Fri Mar 03, 2017 11:27 am

We have a discount called Shop that is 100% parts and labor. We apply the discount and post the Invoice.
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Re: Invoicing Our Own Vehicles For Resale?

Postby brianp87 » Fri Mar 03, 2017 12:32 pm

I put the selling price to zero with the cost as it really is and post it at zero. So it shows it as a loss.
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Re: Invoicing Our Own Vehicles For Resale?

Postby Nperkins » Sun Jan 28, 2018 10:46 am

This is my biggest issue I have with Mitchell.. I want to use it for all of my in house stuff, but I don't want to throw off my revenue numbers..

Does using the 100% discount throw off profit totals?
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Re: Invoicing Our Own Vehicles For Resale?

Postby ricmorin » Mon Jan 29, 2018 4:56 am

This method does not throw off revenue. You didn't make any revenue on in house work.

Yes, it will affect profit numbers, but doing in house work when you could be doing profit work will affect profit. I prefer true numbers.
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Re: Invoicing Our Own Vehicles For Resale?

Postby brianp87 » Mon Jan 29, 2018 6:15 am

ricmorin wrote:This method does not throw off revenue. You didn't make any revenue on in house work.

Yes, it will affect profit numbers, but doing in house work when you could be doing profit work will affect profit. I prefer true numbers.


Agreed that's why I do it this way.
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