Salesforce License Conversions
31 users are being switched from full Goldfinch users to platform users.
Potential issue: Whether the embedded CX1 phone bar will remain functional with platform licenses.
Alex will test a platform user to verify if the phone bar remains accessible.
Permission Sets:
Changing a user’s license wipes out all assigned permission sets.
Admins must reassign permissions manually after switching licenses.
Some permission sets are restricted by Salesforce license type, requiring cloning for compatibility.
Trade-In Process Overview
Sales Process for Trade-Ins
Used Intake Form (Salesforce):
Starts from an opportunity (either a trade-in or outright purchase).
Contains key financials: Trade Allowance and Payoff Amount.
Sales Quote & Sales Order in GoldFinch:
Trade-in is entered as a negative service item on the sales quote and sales order.
This reduces the taxable amount and the customer’s amount due.
If a payoff amount exists, an additional service item increases the amount due.
Inventory & Purchase Order Handling
Purchase Order (PO) Created for the trade-in with the customer as the vendor.
PO allows the receiving, QC, and warehouse receipt process to function properly.
Accounting Treatment:
PI #1: Created for trade-in amount (mapped to a clearing GL account).
PI #2: Created for payoff amount, paid directly to the lender.
Tax Calculation Considerations
The trade-in reduces the taxable amount for state sales tax.
Uncertainty: Whether county surtax is reduced by trade-in credits.
Next Steps: Verify if trade-ins affect county surtax calculations in GoldFinch ERP.
Testing & Potential Adjustments
Testing inventory items vs. service items for trade-ins.
If negative inventory items cannot be used, AATC will proceed with service items.
GoldFinch team will explore bypassing AP on trade-in transactions via payment terms.
If bypassing AP is too complex, a dummy bank account/internal payment type may be used.
Handling Negative Equity on Trade-Ins
Scenario: Customer owes a lender on a trade-in (e.g., trade value = $5,000, but payoff = $6,000).
Solution:
AATC records payoff as a separate line item.
Trade-in still reduces the taxable amount.
GL Handling: The payoff amount posts to a liability account (e.g., money owed to lenders).
Separate purchase invoice for lender payout offsets the liability.
Handling Trade-Ins from a Different Entity
Scenario: Customer trades in a trailer in their personal name but purchases a new one under a business name.
Issue: No tax credit applies because the entities are different.
Solution:
Buy the trade-in outright as a regular purchase (instead of a trade-in).
Instead of issuing a check, apply a credit memo to the customer’s sales invoice.
GL Handling:
A purchase credit memo closes the invoice for the trade-in purchase.
A sales credit memo applies the same amount to reduce the invoice for the new trailer.
Next Steps & Action Items
Verify if county surtax applies to trade-in credits.
Test using service items vs. inventory items for trade-ins.
Investigate bypassing AP on purchase invoices for trade-ins.
Confirm if trade-in purchase invoices can be automatically applied to offset liabilities.
Finalize setup of service items and correct GL mappings.
Manually reassign permissions for platform users after license conversion.
Check if CX1 phone integration remains functional for platform users.
GoldFinch app does not currently display CX1 phone bar for platform users.
Developer (Ishu Bansal) will investigate adding the functionality to all GoldFinch apps.
Serial No. Table
VIN Number / Serial Number Handling:
VIN numbers = Serial numbers in GoldFinch.
VINs are assigned before the purchase order is closed.