Offsetting a debtor with floorplan

Step 1: Floorplanning the stock

You must first make sure the stock that is being sold has been put on floorplan/bailed correctly. 

To do so you must enter in the floorplan details (Provider, Payout Due Date & Floorplan/Bail Reference #) within the "Floorplan" tab when editing the stock's details. (as shown below)

Step 2: Financing the Deal

Allocate who the customer is getting their finance on the deal with. This will be the same as the floorplan company.

To do so you must enter in the clients Finance details (Financed With must match the floorplan company & Financed Amount must be the exact amount the customer is getting financed) within the "Finance" tab when you are creating the sale of stock to the customer. (as shown below)

For this to work seamlessly we recommend you have the "Use Finance Company as Sale Debtor" system option ticked. 

The system option will create a Debtor in the finance company's name rather than the sale clients name when the finance details have been filled out against a sale. 

This System Option can be found within the "Sales" tab of the system options & on the right hand side, grouped under the "finance & Insurance" heading. (as shown below)

Step 3: Delivering the Deal

Once the deal is delivered a Debtor will be created for the Finance Company that was put against the deal and the Amount Owing will match the "Financed Amount" set against the deal, waiting to be received. (as shown below)

The stock will also be sitting in the "Floorplan Payment" screen for the acquisition price waiting to be paid. (as shown below)

Step 4: Transferring Floorplan amount to Offset Debtor amount

Within the "Floorplan Payment" screen fill in the details as if are making a normal payment. However you MUST select the account to be Debtors, the payee will be the Floorplan/Finance Company & the type to be Transfer. 

Once these options are filled out, tick the floorplanned stock you are going to offset the debtor amount with & hit the Post button. (as shown below)

After posting the floorplan amount to debtors the Debtor Amount of Floorplan/Finance Company will now be reduced the the actual amount they will be paying you. (as shown below)

Step 5: Banking the Actual Amount Received From Floorplan/Finance Company

Once you have received the amount from the Floorplan/Finance Company you can go into the "New Banking" screen within Eclipse, tick off the positive amount which related to the sale & the negative amount which is related to the transferred floorplan amount. This will allow you to bank the difference which should be the amount received for the Floorplan/Finance Company. (as shown below)