Overview
Automating Automate and streamlining streamline the current manual process of managing floor plan invoices in GFERP.
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Create one Purchase Order per Floor Plan Unit
PO Setup:
The "buy from vendor" is set as the factory (where the unit is coming from).
The "pay to vendor" is set as the floor plan company (the financing company that owns the unit temporarily).
Check Floor PO box
Create an Invoice when the PO is received: after receiving the unit, an invoice is created and issued to the floor plan company.
Payables to hit a separate GL Account called Floor Plan Payables to make it easier to track floor plan payables independently from other outstanding payables.
Payment to the floor plan company is only made after the unit is sold.
Serial numbers need to appear on both the PO and Invoice.
Bulk Invoice selection: mass select invoices from a report or upload
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Go to Purchase Order in sandbox.
Create New PO:
Vendor: Factory Vendor (buy from)
Pay To: Floor Plan Company
Product: Test Unit A
Quantity: 1
Floor PO: Checked
Save the PO.
Step 3: Receive the PO and Generate an Invoice
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Sell the Unit:
Create a Sales Order for the "Test Unit A".
Ensure the serial number is linked to the sale.
Check the Floor Plan SO box.
Post the Sales Invoice:
Verify revenue, COGS, and inventory reduction.
Process the Payable:
In Accounts Payable, select the invoice created earlier.
Verify that it hits the Floor Plan Payables GL account.
Pay the Invoice:
Create a vendor payment for the Floor Plan Company.
Ensure the payable is cleared from the GL account.
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