Entering a floor plan invoice

Use these procedures to enter the invoice you receive from the finance company for floor planned products, and cost the purchase order against the invoice.

If you have a floor plan agreement with your vendor or manufacturer directly, and they submit an invoice that includes goods that are floor planned and goods that are not, cost the floor planned goods separately. The Terms type specified for a floor plan invoice should be the Terms type set up in SA Table Code Value Setup.

Costing in Vendor Invoice Center Entry requires that you have first entered a purchase order for the products in Purchase Order Entry using the floor plan Terms type, and received the product in Purchase Receipt of Inventory Entry. The purchase order does not have to be costed to the same vendor from which it was ordered and received.

  1. Select Vendor > Entry > Invoice Center.
  2. Specify the group to update, and click New.
  3. Specify the vendor number.
  4. Select Invoice in the Transaction Type field.
  5. Select Trade in the Process Type field.
  6. Specify the invoice number, amount, and invoice date from the vendor’s invoice.
    If the invoice includes addons, include those in the amount.
  7. In the Terms field, select the floor plan terms if the vendor terms that default are not the floor plan terms.
  8. On the Terms window, verify the Maturity and Expiration dates are correct.
    Do not specify a discount percent or amount. Discounts are not calculated for floor plan invoices.
  9. Optionally, specify a reference for the invoice.
  10. Click Save.
  11. Specify the purchase order to match this invoice to.
  12. Select Close When Fully Costed to close the purchase order when all lines have been costed during Final Update or by the Vendor Entry Group Update/Reconcile Invoices Report, even if the PO has uncosted addons.
  13. Click Save.
  14. To view and modify addons, click Addons.
  15. To view and modify the GL distribution information, click General Ledger Distribution.
    1. To add another offset account and amount, click New.
    2. To modify or delete a GL account, select the account in the list and click Edit or Delete.
  16. The invoice proof should be zero when you are finished. Click Save.