Setup

• Serial Number (Tracking Lines Object or Related List?) new fields:

  • Floorplan = Check Box

  • Vendor = Picklist

    • Northpoint

    • Wells Fargo

• If “Floorplan” = TRUE

  • System will look at location where Item Journal is created, and update automatically

    • Trailer Nation Location

      • Vendor = Wells Fargo

Accounting

• Option 2 - Inventory Adjustment

  • Post to accounts

• 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?

Screenshot from meeting - need actual file from Scott.

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Purchase Invoice

Normally - pay for the item after it is sold to an end customer

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Curtailment - paying for a portion of the item

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To begin with, will manually create the purchase invoice

• Will there be an automation to create purchase invoice?

• After trying for the process for a while, then think about eventually automating it

Reports

Daily Report of Posted Sales Orders

• For the items that were sold that day

• Serial Number

• Match to Purchase Order

• Filter by Floorplan = Yes

Sold but Purchase Invoice not Paid Yet

• Maybe also a report of unposted purchase invoices vs sales orders

Other Issues

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Vendor never sends invoice for the Floorplan

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So AATC can’t make the payment to the vendor

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The invoice doesn’t exist in the vendor’s system - Northpoint

Might be a good idea NOT to automate posting the purchase invoice

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Overview

AATC manages the sale of “Floor Plan” items, where vendors are paid only when the units are sold. These items are serialized new items, primarily Trailers or Truck Beds. Key considerations include:

• Some serialized new items are not classified as “Floor Plan.”

• Used items are never “Floor Plan.”

• The value of “Floor Plan” items must be recorded on the books.

Purchase Order

1. Add a checkbox labeled “Floor Plan PO” to the Purchase Order.

2. Vendor Association:

   • Vendors are typically North Point or Wells Fargo.

   • If the warehouse is Trailer Nation, the vendor is usually Wells Fargo.

   • If the warehouse is not Trailer Nation, the vendor is usually North Point.

3. Vendor Setup:

   • Define a Default Payable GL Account on the Vendor page, different from the Account AP specified in the Company Setup.

4. PO Requirements:

   • For “Floor Plan” POs, create one Purchase Order (PO) per serial number.

5. Creating WR:

   • If Floor PO is true,

     • If Record Type = Trailer, trigger an error if the PO contains more than 1 serialized item. There could be other purchase lines on the Purchase Order

   • Receive items as usual.

6. Purchase Invoice:

   • Add the following fields to the Purchase Invoice page:

     • Item No.: A lookup field

     • Serial No.: A text field.

     • Floor Plan Sales Invoice: A lookup field linking to the Sales Invoice.

     • Floor Plan SI Document Status: A formula field.

   • When creating Purchase Invoices, update the Item No. and Serial No. field if Purchase_Order__r.Floor Plan PO = true.

   • When posting the Purchase Invoice, AP will use the Default Payable GL Account defined on the Vendor page.

Sales Order

1. Sales Order Setup:

   • Process SQ, SO, WS, and SI as usual.

   • Use Record Type = Trailer, and remove the checkbox labeled “Floor Plan SO” to the Sales Order.

2. Creating WS:

   • If Record Type = Trailer, trigger an error if the SO contains more than 1 serialized item. There could be other sales lines on the Sales Order

Posting Sales Invoices

1. Sales Invoice Enhancements:

   • Add the following fields to the Sales Invoice page:

     • Floor Plan Purchase Invoice: A lookup field linking to the Purchase Invoice.

     • Floor Plan PI Document Status: A formula field.

2. Invoice Updates:

   • When posting the Sales Invoice, if Record Type = Trailer

     • Match the corresponding Purchase Invoice using Item No. and Serial No.

     • Update the Floor Plan Sales Invoice field on the Purchase Invoice.

     • Update the Floor Plan Purchase Invoice field on the Sales Invoice.

Paying Floor Plan Vendors

Clone Ready to Create Vendor Payments view to Ready to Create Vendor Payments for Floor Plan

• Document Status = Posted

• Pending Vendor Payment = blank

• Remaining Amount != 0

• Purchase_Order__r.Floor Plan PO = true

• Floor Plan Sales Invoice != blank

• Floor Plan SI Document Status = Posted

Allocating Interest Expenses to Floor Plan Items

1. Interest Expense Handling:

   • AATC incurs interest expenses while holding “Floor Plan” items.

   • Use the Landed Cost Management module to allocate interest expenses to the WR associated with “Floor Plan” items.

2. Additional Requirements:

   • Consider adding fields such as “VIN” or “Serial No.” to the page used for selecting WRs.