28 Oct Function IFO Fee Code Feature with CDK
There used to be a time on the CDK Drive System when it took a lot of work to set up an expense account so that you could bill out items such as Freight Charges, Tire Disposal Fees, Tire Tax, and Waste Oil fees. The process included setting up a Source, Pricing, and the Source Accounting in OSSA and USA to get these to work properly. And, of course, it was one source and just one part number to accomplish this.
Just about two years ago, a new feature offered by CDK is Function Code IFO. This has some great versatility and eliminates all the work that used to be done to accomplish this task. IFO has the ability to be charged out by a specific source. A great example of this would be your tires. Almost every dealership parts department has tires in a separate source for sales tracking, inventory control, and sales source accounting. You can set up an IFO such as “TTAX” for tire tax, insert the right tax account number, make it non taxable, and “turn it on” for only your tire source. This IFO will charge the TTAX on every transaction from that source, the parts adviser no longer has to remember to bill out the individual number from a separate source.
What about Freight charges? You certainly can’t turn this on for every source and freight charges can be on just about every part of your inventory and source table. Again, no problem! You can set up a IFO “FRT” Fee, and then put a default sale value, such at $5.00 along with the freight expense account number. Within Function “I” or “PRO” for invoicing, you can hit the “F6” or “F7” function code, add the FRT fee code, then hit “F2” to change the freight fee to the proper amount you need to charge and you are done.
Amazingly, we still see a lot of dealers who have migrated to CDK Drive and they continue to use the “old method”. You should certainly explore the time saving and accurate benefits of implementing IFO codes if you have not already!
Have questions about how to set-up or use IFO in your CDK DMS? Don’t hesitate to shoot us an email or give us a call!