Introduction: This document covers how the Accounting module works with the other modules within the Infinity system.
This page covers accounting integrations with the following modules:
Accounts Receivable (AR) Info Tab
The AR Info tab within the CRM module tracks all AR invoice and payment history for each AR customer and Warranty Company. It allows you to set credit limits, interest rate and late fees for each customer. They can also place a customer on credit hold to prevent other departments from allowing the customer to charge invoices on an account. This integration makes it easy for other departments to see a customer’s payment history without having access to the Accounting module and/or reports.
Accounts Payable (AP) Info Tab
The AP Info tab within the CRM tracks all AP invoice and payment history for each supplier. It allows the organization to preset the billing account number, discount percentage, disbursement day, etc. They can also set a supplier up as a 1099 supplier, a floorplan company, or a bank. This integration makes it easy for other departments to see supplier history without having access to the accounting module and/or reports.
All parts & service invoices are automatically transferred to accounting to a specified journal when they are cashed out. General purchase orders and receiving invoices are also transferred automatically, creating accounts payable entries for the specified supplier. Inventory adjustments also automatically create adjusting entries in the Accounting module. This integration is driven by the parts & service category setups.
Vehicle purchase entries can be made directly from the Unit Inventory module, eliminating the need to enter a vehicle and then go to the Accounting module to make a manual entry. The inventory asset and floorplan payable can be created with the click of a button. The setup for this entry can be configured through the make/model picklist or through vehicle templates.
Also, internal service work automatically updates the total vehicle cost which allows for real-time cost figures that may be necessary for calculating commissions on an existing deal.
When deals are closed they can be transferred automatically to the Accounting module to a specified journal. This prevents the accounting department from having to manually make an entry to record revenue, cost of goods sold, sales tax, accounts receivable for contracts in transit, etc. These items can be pre-set in the account summary setups.
Once a deal is transferred to the accounting system, the transactions can always be viewed directly from the deal screen.