How to set up and create Floor Plan Invoices

How to set up and create Floor Plan Invoices


How to set up and create Floor Plan Invoices

There are three specific activities and tasks attached to this process:
 

1. From the Start window of DealerVu, go to Business Office on the department menu.
2. Select the Accounting link on the Options menu. This will open the Accounting window.
3. From the Function menu select General Ledger then select Chart of Accounts. This will open the Chart of Accounts Filter window..
4. Click on the New icon to open the GL Account Detail window, enter the GL account number that you want to assign to this account. The Account number should be in the same range as your other Account Payable accounts.
5. Give the new account a description. The format should be similar to descriptions for your other Flooring A/P accounts. If you do not have other accounts, you could use the format A/P-Flooring-Company name. By using a format like this, it makes it easy to find all your Flooring A/P accounts. The Type field should have Account Payable placed in it.
6. You must also click on the Reconcilable check box; this will allow you to reconcile this account to your flooring company statement.

 

Note: Remember to save your changes.

 

B. Create Floor Plan Company Vendors. Once you have the GL account set up you can then begin to set up the Flooring Company. To do this, perform the following steps:

1. Go to System settings, click on the F&I option, click on the Flooring Company and the Flooring Company Filter window will appear
2. To create a new Floor plan Company click on the New icon. This will open the Flooring Company Details window

3. You must enter a unique Company Code for this Flooring Company and then enter the company name and address
4. Once you have that information entered then you will need to select a Payable Account

Note: There should be a unique Account Payable General Ledger account set up for each Flooring Company that you deal with. This will make it easier when the flooring company comes to audit your account; it will also make it easier for you to reconcile with your monthly statement.
 

C. Create Flooring Company Invoices. Once you have set up the flooring company you can begin to create Flooring Company Invoices. The Floor Company Invoice will be created when you create a Unit Purchase Order and then stock that unit into inventory. Here’s how:

1. From the Start window of DealerVu go to Unit Sales and Management in the department menu
2. Select the Purchase Order link on the Option menu. This opens the Purchase Order Units filter window. For this example we will create a new Purchase Order, so click on the New icon to open up a new Unit Purchase order.
3. Once you open a new Unit Purchase order, select the vendor that you are buying the unit from; this will not be the flooring company.
4. After you select the vendor, click the Add Item icon on the toolbar and enter the unit information of the unit you are ordering. After all the unit information is entered select the flooring company from the drop down list:

 

You must select a flooring company for each and every Unit Purchase Order that you create, even if the flooring company is your own dealership.

 

Once the PO is created and the unit is ordered you can change the PO’s status to Submitted.

 

Note: When the Unit PO is saved with Submitted status, an On Order Unit Detail record is created in the unit inventory ready for use. You can right-click on any submitted unit line on a Unit PO and open the ordered unit detail record. This is the way you can change computer assigned stock numbers to factory order reference numbers and add any other sales related detail or pricing information to the ordered unit (Click on the Other Info tab on the unit detail record and click on the Retail Info checkbox in the Pricing Info section to detail pricing).
 

When the unit arrives, you need to stock in the unit by opening the PO and clicking on the New Invoice icon. You must first click on a unit line on the Unit PO, then click on the New Invoice icon to create a Floor Plan Invoice for the selected unit (the unit PO can have multiple units on it but a Floor Plan Invoice can only have one unit).
 

This will create a new Vendor’s invoice where the flooring company is the name on the invoice. Once the status of this invoice is set to posted, then the flooring company’s payable is created in the Account Payable module of DealerVu.
 

You can create a Floor Plan Invoice without creating a Unit PO by clicking on the New Vendor Invoice icon on the toolbar on the top of the Purchase Orders (Units) screen. This allows you to by-pass the creation of an order, detail the unit and place it directly into the inventory by setting the invoice status to Stocked.
 

You can control the GL account destination of the values for Discounts, Shipping and Other Charges by using the Disbursements tab. Any values assigned on the Invoice tab can be distributed to any GL account by adding lines on the Disbursements tab. This process gives you the ability to uniquely tailor the accounting distribution for the unit purchase.
 

There is a system default setting in System Settings->Accounting->Miscellaneous Settings-Unit Sales that specifies whether or not freight, discounts and other costs get added to the unit cost and unit inventory GL account or not. The setting is called ‘Post All Unit PO Charges to Unit Inventory GL Account’. If this setting is checked, all costs add to the total cost of the unit. If the setting is unchecked, the specific GL accounts set on the same Miscellaneous Settings screen will be used as defaults and those costs will not be included in the total cost of the unit.
 

In order to have the Floor Plan Invoice updated into the Floor Plan AP account, you must set the invoice status to Posted. Note that you can change the values assigned to the unit and the floor plan invoice at anytime up until you post the invoice. Any value changes made will be updated to the costs of the associated unit detail record.
 

Hint: If you want to see the GL Transaction after the invoice is posted, just hold the Control key down and press the letter ‘h’. The GL Transactions tab will display for you to see the complete posting detail for the invoice.

 

What can go wrong & what can you do about it?

If an invoice is posted with incorrect values you may be able to ‘un-post’ it if certain conditions exist. On the top menu of the invoice select File->Unpost Invoice. A wizard will guide you through and test to see if the invoice has been paid and/or if the unit is attached to a deal that is in Capped or Posted status. If those tests are cleared then the invoice will be returned to Stocked status allowing you to edit values and re-post. The edited values will change the value of the related unit detail record.
 

If an invoice is stocked or posted and you need to delete it and its related unit you can use the Delete Stocked/Posted Invoice functi on found on the File selection on the invoice menu. This function will present you with a wizard that will test for payments on the invoice, inclusion of the unit on a capped or posted deal and the existence of any unit cost adjustments or internal Service Orders on the unit. If those tests are cleared then the invoice and unit detail record will be deleted entirely. There is no recovery of the records once the deletion is done.