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Floorplan Maintenance

Floorplan Maintenance​

Purpose To track serialized boats, motors, trailers, and other items that are floor planned. Floorplan reports can be generated to compare Floorplanner’s Interest Statement to your data.

From the menu select Sales Management, Maintenance Functions, Floorplan Maintenance

When a serialized item is added to a floorplan, an Accounts Payable (AP) invoice is created for the Cost of the item. The due date of the invoice will be established as one year from the Initiation Date of the floorplan. When the sales contract for this floor planned item is closed, the due date of the invoice created will be changed to the contract closing date.

Unit Type - In the pull down list, select the desired type of unit. Choices are Boat, Motor, Trailer, and Other.

  • Unit Number – Enter the unit number for this type of unit; you can also type part of the model name or serial number preceded by a back slash "" to access a cross-reference list.
  • Vendor Number – The Vendor Number and name automatically fills in when a unit number is entered.
  • Model Number – The Model Number automatically fills in when a unit number is entered.
  • Serial Number – The Serial Number automatically fills in when a unit number is entered.
-- Floorplan Detail –-​
  • Floorplanner – Enter the floorplan vendor; you can also type part of the vendor name or serial number preceded by a back slash "" to access a cross-reference list.
  • Interest Rate – Enter the floorplan Interest Rate charged by this floorplan vendor. This field defaults to the interest rate defined for the floorplan vendor in Vendor Maintenance.

This interest rate is used to calculate an interest cost for profit calculations. A simple interest calculation is used for the duration of the time that the unit is on floorplan. The calculation method is shown below:

[Unit Cost X ((Interest Rate / 12) X (# of Days on Floorplan / 30.5))].

Where 30.5 = Average Days in a Month.

  • Interest Start Date – Enter the Interest Start Date. The default is the current system date.
  • Invoice Number – Enter the invoice number for this floorplan.
  • Invoice Amount – Press enter to accept the Invoice Amount figure. If the Invoice Amount for this unit is not automatically displayed, then a cost for the unit has not been entered in Boat/Motor/Trailer/Other Inventory Maintenance.
  • Deferred Amount – Enter the Deferred Amount.
  • Initiation Date – Defaults to the current system date. The due date of the AP invoice created for the floorplan is one year from the Initiation Date.
  • Due Date – Defaults to one year from the Initiation Date.
  • Trust Number – Enter a Trust Number. If you press enter without typing a Trust Number, the Trust Number defaults to the invoice number. This is a required field. The Trust Number can cover several units.
  • Trust Item – The Trust Item number helps you distinguish between units when a Trust Number covers more than one unit. Enter a Trust Item Number. For the first item the default is 1.
  • Released Date – When the floorplan is released, the Release Date automatically fills in. This field is read only.
  • Released Contract – If the unit was on a sales contract at the time when the floorplan is released, the contract number automatically fills in. This field is read only.
  • Balance Due – Displays the Balance Due. This field is read only.
-- Update Floorplan –-​

Clicking the Update Floorplan button updates the Floorplans grid with information from the Floorplan Detail section.

-- Comments –-​

Enter Comments for this flooplan. This is a free form text field.

-- G/L Accounting Information Grid–-​
  • G/L Account – The G/L Accounts for the debit and credit entries for the AP invoice that will be created are automatically filled in when the floorplan vendor is entered.

The Debit to Inventory accounting entry is determined by the following hierarchy;

  • The system will check the Other Accounts section in the Boat Sales tab for the Department on the serialized item (see Boat/Motor/Trailer/Other Inventory Maintenance) or the Department for the model (see Boat/Motor/Trailer/Other Model Maintenance).
  • The system will check the Location. See the Boat Sales Accounts tab in Location Maintenance.
  • The system will use the New B/M/T/O Inventory account defined in the General Ledger tab of Boat Sales Parameters.

The Credit to Floorplan Payables accounting entry is determined by the following hierarchy;

  • The system will check the Floorplan Vendor for a default AP G/L account.
  • The system will check the Other Accounts section in the Boat Sales tab for the Department on the serialized item (see Boat/Motor/Trailer/Other Inventory Maintenance) or the Department for the model (see Boat/Motor/Trailer/Other Model Maintenance).
  • The system will check the Location. See the Boat Sales Accounts tab in Location Maintenance).
  • The system will use the Floorplan Liability Account in the Other Accounts section of the General Ledger tab in Boat Sales Parameters.
  • Description – The G/L account Description automatically fills in when the floorplan vendor is entered.
  • Amount – The debit/credit amount automatically fills in when the floorplan vendor is entered.
-- Floorplans Grid –-​

The following information from the Floorplan Detail section automatically fills this grid when the Update Floorplan button is clicked.

  • Floorplanner
  • Floorplanner Name
  • Interest Rate
  • Interest Start Date
  • Invoice Number
  • Invoice Amount
  • Initiation Date
  • Due Date
  • Trust Number
  • Trust Item
  • Released Date
-- Release Floorplan Link in Command Panel–-​

When a row in the Floorplan grid is selected, you can press F8 or click the Release F8 link in the Command Panel to release the floorplan. After pressing F8 or clicking the Release F8 link, you will receive a message indicating that the floorplan will be released when it is saved. Prior to clicking the Save button, you can back out of releasing the floorplan by clicking Cancel button and then answering No to the prompt to save floorplan changes. Once the floorplan is Saved after pressing F8 or clicking the Release F8 command link the floorplan is released.

-- Floorplans Grid Legend–-​

Posted to AP – Items posted to AP appear in green.

Released Floorplan – Released floorplans appear in orange.

-- Save/Post Floorplan–-​

Clicking the Save button posts the floorplan(s) to AP. Once saved, the floorplan(s) appear in green in the Floorplans grid.