How to Close Deal After Payoff in DeskManager Online

Your dealership should close an open account once all its associated payments have been collected. A closed account is still accessible but does not display on your accounting list by default. This can help you focus on active accounts which still require ongoing financial interactions. 

If you need to unwind an open account, such as in the case of a repossession or buyback, then refer to our article here: How to Unwind Deals

Closing an Account Paid in Full 

Closing an account can be accomplished from anywhere in DeskManager by clicking Accounting in the side menu, then selecting Accounting List.

Navigate to the account you wish to close.

In the top-right, click the More drop-down menu, then click Close Account. A window will appear.

A pop-up menu will appear to request additional information.

Since the payoff has been received and the account balance is zero, close the account with the Account Final reason. 

For an in-depth look at all the closing reasons, refer to our article here (link).

Next, designate the date the account should Stop Interest Accrual. That will likely be today’s date since the account has already been paid off. 

The Closing Date will always be today’s date.

Enter any notes about the closure if applicable. 

Finally, click Submit to close the account.