When handling lease deals that require a down payment, it is essential to follow a two-deal process in Preo to ensure proper documentation and financial tracking. This guide outlines the required steps and notes to include for compliance and clarity.
Step-by-Step Instructions
1. Create Two Separate Preo Deals
Deal 1: Cash Deal - To record down payment
Type: Cash
Amount: Equal to the down payment.
Nothing should be listed in the contracts or on the equipment tab
In expense, add an additional expense for the down payment. Commission and markup should be $0. All finances are on the lease deal.
Document Generation Notes:
"Down payment for Preo lease deal number (Ref Lease Deal Number)"
Deal 2: Lease Deal
Purpose: To record the full lease transaction.
Type: Lease
Build the deal as usual
In the expense tab add and additional expense as -$xxx.xx. For example, if the down payment is $1,000 then in additional expense you will put $-1,000 with a note that says "down payment from deal number XXXXX". This will add the revenue back to your lease deal for the downpayment.
Document Generation Notes:
"Down payment in the amount of $x,xxx.xx was received on Preo deal (Ref Cash Deal Number)"
2. Document Signing Requirements
The customer must sign:
The SSA (Sales and Service Agreement) for the cash deal (down payment).
The full set of lease documents for the lease deal.
3. Final Checklist
✅ Two separate deals created in Preo
✅ Correct deal types selected (Cash and Lease)
✅ Document generation notes added to both deals
✅ SSA signed for the cash deal
✅ Lease documents signed for the lease deal