To reconcile units sold on floor plan/consignment we need to match the bill with the payment into your bank account.


When invoicing a unit on floor plan/consignment, EVOPOS will upload the bill to Xero.


Simply match your floor plan payment with the appropriate bill in your Xero reconciliation:


Steps

  1. Make payment to floor plan supplier
  2. (Optional) Add payment to bill in Xero
  3. Match and reconcile payment in Xero Reconciliation



Finance

Sometimes the floor plan supplier can also offer finance to your customers, if a unit is being financed by the supplier, the payment could be the difference between what is owed on the unit and the amount being financed. In this case we will need to reconcile the bill and sales finance payment at the same time.


In this example the customer paid 4,500 deposit and financed 10,500, the amount owing on the floor plan was 15,000 which leaves a balance of 4,500 which was then paid to the floor plan/finance company.