Invoicing Our Own Vehicles For Resale?

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Freez
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Invoicing Our Own Vehicles For Resale?

Post by Freez »

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

Post by Sauvageaus »

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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ricmorin
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Re: Invoicing Our Own Vehicles For Resale?

Post by ricmorin »

We have a discount called Shop that is 100% parts and labor. We apply the discount and post the Invoice.
Ric Morin - Volunteer Forum Moderator, Shop Owner, ASE Master L1
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I find my life is a lot easier when I use Special Orders
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Re: Invoicing Our Own Vehicles For Resale?

Post by brianp87 »

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?

Post by Nperkins »

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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ricmorin
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Re: Invoicing Our Own Vehicles For Resale?

Post by ricmorin »

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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Motorcar Alternatives, LLC
603-622-6434 x203
www.motorcaralternatives.com

I find my life is a lot easier when I use Special Orders
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Re: Invoicing Our Own Vehicles For Resale?

Post by brianp87 »

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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