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Option 1 - Purchase Order
Northpoint or Wells Fargo will be the Vendor
Flag on PO = “Floor PO”
Warehouse Receipt
Will look at the PO to see if it’s a Floor PO and post to the correct accounts
Interest
How does interest get post against an item?
They pay the interest on a monthly statement
Like an interest only loan.
Vendor sends invoice for interest based on how long the trailer is on the floor
Vendor sends invoice for all the trailers.
Cost is allocated against the units based on VIN number
Need to use Landed Cost
Allows you to add additional costs after you receive it
New Purchase Invoice
Vendor = Bank
Allocate the cost it to the warehouse receipt
Accounting Questions
When to do Purchase Invoice?
How to adjust costs?
Would you need to edit the Purchase Order?
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