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QuickBooks Sales Setup for NIADA Chart of Accounts Users

Autosoft -

If your non-franchise dealership uses Autosoft's Sales and F&I (SFI) platform but employs QuickBooks rather than the full Autosoft DMS Accounting module, Autosoft's QuickBooks integration allows you to easily transfer vehicle sales data from your Autosoft SFI platform to QuickBooks.

If your dealership uses the NIADA chart of accounts in QuickBooks, your Autosoft QuickBooks integration setup should be relatively simple. After you've purchased the QuickBooks integration from Autosoft, Autosoft will turn on the integration for your dealership and will populate your system using default general ledger accounts and vehicle sales templates based on the NIADA chart of accounts. 

These accounts and templates are set up with the appropriate formulas and account names and numbers to comply with NIADA, so you will only have to make adjustments if you choose to edit, remove, or add accounts or vehicle sales templates tailored to your dealership's policies and usage. 

All QuickBooks integration setups are performed within Autosoft DMS's Setup application using the Accounting and Sales tabs. It may be best to begin with the Sales setups affected by the QuickBooks integration and then move to the Accounting setups

Sales Setups

The Sales tab of the Setup application contains several screens in which default general ledger account information has been entered for QuickBooks users. The information here is specific to the NIADA chart of accounts, so unless you deviate from the NIADA chart of accounts, the system is preset for you to start using it without any necessary changes.

To verify the general ledger account information for all of the affected Sales setup screens, follow these steps:

Step 1. Click the Setup button in the blue main navigation bar along the left side of the screen.

Step 2. Click the Sales tab above the Dealership Summary Card. A menu of Sales setup options opens. 

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Step 3. Several items on this list contain general ledger account settings based on the NIADA chart of accounts. To review these general ledger account selections, click each of the following options (Clicking the options below displays the screens on which you'll see general ledger account fields):

Banks
Commissioning
Coverage Providers
Credit Insurance
Options: Back
Taxes & Fees

 

Banks

Step 4. The Bank Search screen opens. Double-click on a bank from the list to open its bank record.

Step 5. Click the Defaults button under the Bank Summary Card.

Step 6. The Defaults page's Reserve card contains the G/L Account field, where the general ledger account used for bank reserves in the NIADA chart of accounts (Finance & Insurance Receivables) auto-populates the screen.

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Note:  If you add new banks to your list of banks, the G/L Account fields default to the appropriate general ledger for those banks. 

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Commissioning

Step 4. The Commissioning screen opens. The expense and payable accounts are pre-populated for you in these sections but may be changed. 

The expense account drop-down menus have been filtered to include only expense and other expense account types. The payable account drop-down menus have been filtered to Accounts Payable, Credit Card, Loan, Long Term Liability, and Other Current Liability account types. 

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In the Salesperson Commission, Sales Manager Commission and Account, and Finance Manager and Account cards, verify that the Expense Account - Used fields default to Salesperson Compensation (Salesperson Commission card) or Finance & Insurance Compensation (Sales Manager and Finance Manager cards). 

Step 5. The Payable Account field in each card defaults to Salaries, Wages, & Commissions Payable

Step 6. Click Save to save any changes you make. 

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Coverage Providers

Step 4. The Coverage Providers Search screen opens. Double-click a coverage provider from the list to open their record. 

Step 5. The coverage provider record opens to the Overview page, where the Gap Plan Information, Maintenance Plan Information, Service Plan Information, and Warranty Plan Information cards each contain a Payable Account field, Used Retail Account field, and Used Cost Account field.

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The Payable Account field in each card auto-populates with the appropriate general ledger account for the card: GAP Payable, Maintenance Payable, Service Contract Payable, and Warranty Payable, respectively. 

Step 6. The Used Retail Account field in each card auto-populates with the corresponding general ledger income account: Used Vehicle GAP Income, Used Vehicle Maintenance Income, Used Vehicle Service Contract Income, and Used Vehicle Warranty Income, respectively. If for some reason a field doesn't auto-populate or you must select a different option, select the account from the field's drop-down menu.

Step 7. The Used Cost Account field in each card auto-populates with the corresponding general ledger cost account: Used Vehicle GAP Cost of Sale, Used Vehicle Maintenance Cost of Sale, Used Vehicle Service Contract Cost of Sale, and Used Vehicle Warranty Cost of Sale, respectively. If for some reason a field doesn't auto-populate or you must select a different option, select the account from the field's drop-down menu.

Step 8. Click Save to save any changes. 

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Credit Insurance

Step 4. The Credit Insurance Search screen opens. Double-click a credit insurance provider to open its record. 

Step 5. The credit insurance provider record opens to the Overview screen. Click Life Insurance to open the Life page, where you can view the life insurance plan information. 

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Step 6. The Used Retail Account, Used Cost Account, and Payable Account fields auto-populate with the corresponding general ledger accounts for credit insurance. If for some reason a field doesn't auto-populate or you must select a different option, select the account from the field's drop-down menu.

Step 7. Click Save

Step 8. Click Accident and Health Insurance to open the Accident and Health page of the credit insurance provider's record.

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Step 9. The Used Retail Account, Used Cost Account, and Payable Account fields auto-populate with the corresponding general ledger accounts for life A&H. If for some reason a field doesn't auto-populate or you must select a different option, select the account from the field's drop-down menu.

Step 10. Click Save

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Options: Back

Step 4. The Back Options screen opens. Double-click a back option to open the Back Option pop-up.

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Step 5. The Back Option Account Numbers card contains the Used Retail Account, Used Cost Account, and Payable Account fields, which auto-populate with the corresponding general ledger accounts. If for some reason a field doesn't auto-populate or you must select a different option, select the account from the field's drop-down menu. 

Step 6. Click Cancel if you didn't make any changes or Save and Close if you changed some settings. 

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Taxes & Fees

Step 4. The Taxes & Fees screen opens to the Taxes page. 

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The Primary G/L and Lease G/L fields in the state tax card at the top of the screen auto-populate with the appropriate payable account in compliance with the NIADA chart of accounts (Sales Taxes Payable). If the fields don't auto-populate or you need to change the account, use the fields' drop-down menus to select a different account.

Step 5. In the Tax Defaults card, the Additional Tax Primary G/L, Additional Tax Lease G/L, and Tax on Cap Reduction G/L, the corresponding payable account from the NIADA chart of accounts (Other Taxes Payable) auto-populates. If the fields don't auto-populate or you need to change the account, use the drop-down menus to select a different account. 

Step 6. If you've made any changes on the Taxes page, click Save.

Step 7. Click Fees to open the Fees page of the Taxes & Fees screen. 

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Step 8. In the Local Fees and State Licensing Fees cards, if Advanced Setup has not been used for a fee, use the fields in the G/L Account column to select the appropriate general ledger account for the fee. License & Registration Fee auto-populates if you're using the NIADA chart of accounts. 

If Advanced Setup has been used for a fee, click the Advanced Setup button in the far right column of a fee listing. A fee pop-up opens, displaying the setup information. 

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Step 9. The fees are broken down for New and Used vehicles and Retail, Lease, Cash, Balloon, and Wholesale deal types. The G/L field for each category defaults to License & Registration Fees, but you can use the drop-down menu to select a different account as necessary. 

Step 10. Click Save

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