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Working with Deposits

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DealerCenter makes it simple to record and track the collecting of vehicle deposits from a customer.

In this article:

Taking a Deposit from a Customer

Taking a Deposit from DC Dealer Websites

Active Deposit Record

Active Deposit on a Vehicle

Applying the Deposit to the Deal

Reporting

Settings

 

Taking a Deposit from the Customer

A manual deposit can be made through the customer record by selecting the button in the Vehicle Selected for Sale in the Vehicle tab of the Customer record:

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The deposit can also be initiated through a link in the left-nav menu of the customer record:

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The Take Deposit link will display a new window in which you can enter the deposit information (and trigger the Vantiv payment process if applicable).

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Clicking the Add button will create and save the deposit on the customer and vehicle, and display the following window asking to either print the receipt or email it to the customer.

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When the deposit record has been created, you will be able to access the deposit record from both the status box in the customer header and from the vehicle selected for sale

Customer Record Header

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Vehicle Selected for Sale

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Taking a Deposit from DC Dealer Websites

You also have the ability to accept customer deposits from your website if you are active with Worldpay Payment Processing and are subscribed to the DealerCenter Dealer Websites

The vehicle detail page will have a new button for Deposit

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The customer will click on the Deposit button and be presented with a form in which they will enter their contact info

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The customer will then enter their credit card info into the Vantiv Hosted Checkout page

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Once the transaction is approved, the prospect/customer record will be created in DealerCenter with an active Deposit

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Active Deposit Record

You will be presented with the following information when opening the ACTIVE deposit record from the either the Customer, Inventory, or Deal modules.

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  1. History
    • Will open the history/audit trail of the deposit record

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  1. Keep without Deal
    • This will let you keep the deposit without associating it with a deal. This will be used when the “Good Through” period has expired, and the customer has forfeited his deposit.
    • Once performed, the deposit will be closed out and the status will be changed to “collected”
  1. Print
    • This will print the receipt for the deposit
  1. Email
    • This will open the email dialogue to send a receipt
  1. Edit
    • Will unlock the deposit and allow you to make edits to the following fields
      • Reference
      • Deposit Date
      • Good Through Date
  1. NSF
    • This will status the deposit as NSF and remove the hold/message on the vehicle
  1. Refund
    • This will status the deposit as refunded, remove the hold/message on the vehicle, and return the money to the customer’s card/account if the payment was taken through Vantiv/Openedge

 

Active Deposit on a Vehicle

When a deposit is placed on a vehicle the following message will be displayed as an alert each time someone opens the vehicle record.

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Additionally, a similar alert will be displayed if the deposited vehicle is added to a deal for another customer.

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Applying the Deposit to the Deal

An indicator will be displayed when a deal is started for the deposited customer and vehicle.

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You will be asked if you would like to apply the deposit to the down payment when the deal is marked sold and the down payment is to be collected. If the Apply Deposit checkbox is enabled, you will be prompted to collect the difference between the deposit and the Cash Down entered on the deal structure.

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Reporting

The Deposits report allows you to see the current status of the deposit that have been taken.

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Settings

The following updates have been made to DC Dealer Settings

Default Deposit Settings

Go to Inventory settings --> General to set the defaults that will be used when a new deposit is initiated either manually or on the dealer’s DC Website.

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Automatic Email

An automatic email is available in Customer settings to send an email when the Deposit payment has been recorded.

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