Transfer a Wholegood to a 3rd Party Dealer

This document provides the suggested procedures for transferring a floor planned Wholegood (WG) unit to a Third Party Dealer.  This occurs when a WG unit is floor planned by your dealership and the acquiring dealer will be assuming the floor plan liability from the floor plan provider.  If the WG unit is not on a Floor Plan account (i.e. no associated liability), then the unit should be sold to the Third Party Dealer using the normal WG Invoice sales process.

There are several situations involving a WG Unit held in your Inventory that are associated with a Floor Plan Liability (or AP) account:

Scenario 1 - The WG Inventory amount and theFloor Plan Liability amounts are of equal value.

Scenario 2 - The WG Floor Plan Liability amount is less than the WG Inventory amount. This happens when additional costs have been added to the WG unit, or if the Floor Plan Liability amount has been reduced via installment payments.

Scenario 3 - The WG Inventory amount and the AP Liability amounts are of equal value.  This is similar to Scenario 1 above, except the Liability amount is recorded in Accounts Payable, which is referenced to the Supplier, not the Wholegood. Therefore the liability amount does not show on the WG Master “Cost Tab”

Scenario 1 - The WG Inventory amount and the Floor Plan Liability amounts are of equal value.

Scenario 2 - The WG Floor Plan Liability amount is less than the WG Inventory amount.  This happens when additional costs have been added to the WG unit, or if the Floor Plan liability amount has been reduced via installment payments.

Scenario 3 - The WG Inventory amount and the AP Liability amounts are of equal value.