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.

Purchase Invoice

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

• Curtailment - paying for a portion of the item

• 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

• Vendor never sends invoice for the Floorplan

• So AATC can’t make the payment to the vendor

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

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

  • That way if there is a purchase invoice AATC didn’t pay yet, it doesn’t need to be tracked down.