Each account type has a discrete account number
that relates to the types of goods or services that
should be transacted through each account. You
may have more than one account type and therefore
multiple account numbers.
What types of Preferred
Supplier accounts are there?
Preferred Suppliers that offer parts, services and
consumables are typically set up with a Preferred
Supplier Account that is used for the purpose of
transacting those items. We call this a Trade Account.
In the absence of having any other account, you will
capture all sales via the Trade Account. We often call
this account the Default Account.
Preferred Suppliers that offer fixed workshop
equipment, of an amount greater than $2,000, may
decide to apply for an Account that is to be used
exclusively for the purpose of transacting workshop
equipment or vehicle sales. We call this a Capital
Equipment Account.
If you offer fixed asset workshop equipment of an
amount greater than $2,000 you may also in addition
to the Capital Equipment Account, set up a Preferred
Supplier Account that is to be used for the purpose
of allowing the Member to finance (via Capricorn Cap
ezi-finance) their workshop equipment purchases.
We call this a Cap ezi-finance Account (previously
called a 3:6:12 account).
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