Auto Add Finance Markups

Auto Add Finance Markups

Introduction

1Stop has simplified the process of marking up your quotes for finance-related promotional points.  Finance promotional points are the fees a finance company charges for various finance programs.  If your company passes on these fees to the customers, you need to markup the quote accordingly to cover them.  1Stop has simplified the process by automating the entire markup through a click of an action button.  Here is an overview video and following the video is a detailed overview on the full process.

Video Summary



Finance Information Fields

The following is an overview on the Quote's Finance Information section fields:
  1. Finance Partner - select the appropriate finance company from this pick list field.
  2. Finance Notes - this is field can be used to any any relevant notes as it relates to the financing.
  3. Finance Markup Used - this should be updated to Yes if you need to complete the Finance Markup process.  If this is not Yes, the Finance Markup process will not work.
  4. Finance Promo Points - this should be the amount of promo points being charged by the finance company that you are passing on to the customer.  This needs to be populated for the Finance Markup process to work.
  5. Original Quote Total - this will automatically populate with the original Quote Total after you complete the Finance Markup Process.
  6. Finance Markup - this is an auto calculated field that is Grand Total field less Original Quote Total field. 


Finance Markup Process

1. To complete the Finance Markup process, the Finance Markup Used field needs to be Yes and the Finance Promo Points needs to be populated.  Once these 2 fields are completed, click on the Perform Finance Markup button in the top right hand corner.



2. Upon clicking on the Perform Finance Markup button, the process will run and a message box will popup telling you it was completed and that you need to click Edit on the Quote record and the Save for the Total Discount and Total Tax fields to update.  First click the X to Close the message box.


   
3. When the message box closes, click Edit in the top right then immediately click save as this is needed to update the Total Discount and Total Tax field if any line items had discount or tax associated to them.



4. The Finance Markup process is complete and you will see the Quote has been updated along with the following fields updated:
  1. Original Quote Total - this field was updated to the original Grand Total of this Quote.
  2. Finance Markup - this field is updated to the difference between the new Grand Total and the Original Quote Total fields.
  3. Quote Item Line Items - the List Price, Amount, Discount (if any), Tax (if any) and Total fields are all updated for each line in this subform.



Note
For Sales Reporting purposes we always report on Net Sold Amount which is basically the Grand Total less Finance Markup (if any) and less Tax (if any).
 

Reverse Finance Markup

If you need to remove the Finance Markup or redo the Finance Markup it is as easy as a click of a button.  Here are the steps to follow:

1. Click on the Reverse Finance Markup button in the top right hand corner.



2. Once clicked, the reverse process will run and the below Message Box will appear confirming the Finance Markup has been reversed and that you need to click Edit on the Quote record and the Save for the Total Discount and Total Tax fields to update.  First click the X to Close the message box.



3. Once you click the X in the right hand corner you will need to click Edit and then Save to update the Total Discount and Total Tax fields.



4. Upon completing the above procedures the Quote will revert to the original numbers with no Finance Markup applied and the following fields updated accordingly:
  1. Finance Markup - the Yes has been removed.
  2. Finance Promo Points - this field updated to 0.
  3. Original Quote Total - this field was updated back to $0.
  4. Finance Markup - this field is updated back to $0.
  5. Quote Item Line Items - the List Price, Amount, Discount (if any), Tax (if any) and Total fields are all updated for each line back to the original number.
 

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