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Overview
AATC sells manages the sale of “Floor Plan” items, whereas AATC only pays vendors where vendors are paid only when the units are sold. These items are serialized new items,
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primarily Trailers or Truck Beds. Key considerations include:
Some serialized new items are not classified as “Floor Plan”Plan.”
Used items are never “Floor Plan”Plan.”
The value of “Floor Plan” items must be presented recorded on the bookbooks.
Purchase Order
Add a checkbox
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labeled “Floor Plan PO” to the Purchase Order.
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Vendor Association:
Vendors are typically North Point or Wells Fargo.
If the
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warehouse is Trailer Nation, the
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vendor is usually Wells Fargo.
If the
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warehouse is not Trailer Nation, the
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vendor is usually North Point.
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Enter one PO for each serial number.
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Receive as usual
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When posting WR, create 2 accrual GL Entries:
Inventory - Floor Plan
AP - Floor Plan.
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When unposting WR, reverse the 2 accrual GL Entries:
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Most of the time, AATC creates PI when the Floor Plan items are sold.
Floor Plan Items Ready to Invoice
It is aa new Item Ledger Entry View
Serial No. != blank
Floor Plan from PO = true
Invoiced Cost = 0
Remaining Qty. = 0
Meaning it is shipped.
AATC should invoice shipped WS asap.
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When posting PI, reverse the 2 accrual GL Entries.
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When unposting PI, reverse the reversal GL Entries.
Allocate Interest Expenses to Floor Plan Items
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Vendor Setup:
Define a Default Payable GL Account on the Vendor page, different from the Account AP specified in the Company Setup.
PO Requirements:
For “Floor Plan” POs, create one Purchase Order (PO) per serial number.
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.
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
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.
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
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.
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
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
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associated with “Floor Plan” items.
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May need to add “VIN” or Serial No., to the page where we select WRs.
Sales Order
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Additional Requirements:
Consider adding fields such as “VIN” or “Serial No.” to the page used for selecting WRs.