10 Mar 2022 | Windward Software
Inventory Floor Planning
Explore inventory floor planning within Windward System Five. Explore the concept of floor planning, its implementation, set up/configuration, and how to track payments for floor plan items once they are sold.
- Abby, the presenter, has been with Windward for over three years and led the webinar about inventory floor planning.
- Abby defined floor planning as acquiring and owning an inventory when it's received, but payment is not necessary until it's sold or until a negotiated period of time has passed.
- Abby presented the basic setup and configuration of floor planning in Windward System 5.
- The process involves enabling floor planning, setting up categories for the floor plan, and creating floor plan items.
- Abby demonstrated the process of receiving floor plan stocks, selling floor plan items, and how to check how much is owed for floor plan items sold but not yet paid.
- She also showed how to make payments for the floor plan items sold.
- Abby briefly mentioned other resources available on their website like Webinar Archives, Help Centre, Customer Care Portal, and Winward Learning Academy.
- She also mentioned about getting assistance from their professional services specialists.
- A Q&A session followed, where Abby addressed a question from a participant named Deb.
- The next webinar was announced to be on March 24th, focusing on inventory kits.
0:33
Good afternoon, everyone. We'll just give it a couple more minutes as people enter the webinar.
0:39
A couple more seconds here. I hope you guys are having a great Thursday.
0:54
All right, we'll get started. So thank you for joining our webinar today.
0:58
My name is Jennifer and I'll be your moderator for today's presentation.
1:02
At the end of the presentation, we will have some time for questions.
1:05
You can write them into the question box.
1:08
Anything that we're not able to address during the webinar will be answered offline.
1:13
If you think of something afterwards, you can email it to support at www., sorry, support at winwardsoftware.com.
1:22
You can also access past webinar presentations on the website at www.winwardsoftware.com slash webinars.
1:31
Today, we will be discussing inventory floor planning, and our presenter today is Abby. She's been with WinWord for just over three years now.
1:40
So, Without further ado, let's get started.
1:46
Thank you, Jen, and good afternoon, everyone.
1:49
Once again, welcome to our webinar.
1:52
Today, I will only be discussing to you what is floor panning and its basic setup and configuration in System 5.
2:01
Without further ado, let's get started.
2:30
I'm just sorry, just give me one sec, it's not working.
2:57
Sorry for that.
2:58
OK, let's just talk about first, what is floor panning?
3:06
Floor panning is acquiring and owning an inventory when being received, but payment is not necessary until it is sold or until it has been in the store for a negotiated period of time.
3:20
Floor panning is due and payable after inventory is sold or its due date has passed.
3:28
In Windward System 5, Windward System 5 is able to keep track of who you owe the money to and who you actually bought the inventory from and generate proper histories of each.
3:38
Now here's this setup and configuration of the floor panning.
3:45
First is to enable floor panning.
3:50
Next is to set up categories for floor pan and then create floor pan items.
4:00
Next is to receive floor pan stocks and then sell floor pan item at this moment I'm gonna be pulling up my demo here to show you these steps so first is to enable floor panning to do that just navigate to menu set up tools set up wizard and then under inventory just go down a bit and look for floor panning and then check this box here, use floor panning to enable the feature and then close the window to save the changes.
4:52
And then next is to set up categories for floor plan.
4:58
So let's just wait for it.
5:07
Okay, to do that, still go to the menu tab or button and go to setup tools, configuration, and category setup.
5:23
Then for this demonstration, I'll be using the main category parts to add my floor planning subcategory.
5:32
I'm going to select that, go down to add, let's say 896, let's say floor planning.
5:55
And in this column, you should make sure that you set it up as a floor plan type of inventory.
6:03
And then once done, just hit this create leisure numbers button, okay, and hit okay.
6:12
then close this window.
6:17
So we're done now setting up our categories for our floor plan. Next is to create floor plan item.
6:27
So still go to the menu inventory and purchases inventory and new item.
6:38
Then that is under parts main category and Floor Planning subcategory, let's say Floor Plan 1, and I just hit Create.
7:10
So in this window, this is where you set up your floor plan item as a serialized or as a unit.
7:17
But in this demonstration, I'm going to be setting it up as a serialized item.
7:23
So, I'll hit or click this box serial numbers and then hit next and put a description, let's say, and then select the supplier.
7:47
Okay. And then hit okay.
7:51
And then hit next.
7:53
For our cost, let's say $150.
7:58
Then once done, hit next again.
8:02
So here, I'm not going to put stocks or initial stocks.
8:06
I'm going to do that in a different way, which is our next step to receive floor plan stocks.
8:12
So for now, I'm going to hit OK here.
8:18
And our floor plan item has now been created.
8:22
And it shows here floor plan is the inventory type.
8:25
Okay, now we will receive floor plan stocks.
8:33
To do that, just go to Inventory and Purchases, Floor Planning, and New Floor Planning Stock.
8:54
Okay, select the supplier and click okay.
9:06
And then add the item.
9:11
Just click this add item button or just directly put the item number here.
9:19
So click the add item and that is FloorPam.
9:30
Click that.
9:35
So I'm gonna be receiving one stock of this.
9:42
And then once you hit enter, it will prompt you to provide the serial number.
9:46
So I'm going to put 1, 2, 3, 4 as my serial number, hit OK.
9:55
Then I'll hit Receive button.
9:58
In this section here, this is where you set up your bill to date.
10:01
Let's say, for example, this will be due after two months.
10:05
So that would be in May.
10:14
After that, it would prompt you to print the receiving report.
10:21
but I'm not going to do it.
10:23
I'll just hit cancel and once it's done, it automatically creates a bill and let me just remove this rivet here.
10:36
So this is the amount we're going to pay once the item is sold. I'll just hit save for this now. The bill number here would be that one.
10:53
Hit save.
10:58
Now let's check that item.
11:02
We received that, we received one stock.
11:05
So as expected, it should show one available stock or one available in stock and it shows one here.
11:18
So that's correct.
11:21
Then now we will sell this item.
11:25
Let's create new sale here.
11:27
And let's just use a cash sale, click OK, just wait for it, and still thinking, OK, there we go.
11:54
So floor plan one, and then to attach the serial number, just hit this field under quantity column and select that serial number, click OK.
12:12
And then let's pay this through cash, and then exit the print.
12:19
Now that the sale is completed, and as we remember, that the floor plan will only be due and payable after the item is sold or the bill due date has passed.
12:30
Since the item is sold, the question now is how can we be able to know how much we do, how much do we owe from our floor pan items in order for us to check that you just need to go to inventory and purchases floor panning just get here the floor pan payments so we have here we have these options here to select and What we need for this report is to show the inventory floor plan item that are sold or that is sold but not yet paid like we have not yet paid the supplier.
13:28
So the option or the settings would be this one, show sold, show not paid.
13:34
But if you just want to, like for example, if it's not yet sold, so if you want to just check the item, just you can click this box, show in stock, show not paid.
13:47
So for this demonstration, I need this show sold and show not paid.
13:52
Then I'm not going to set the date range because we just sold the item just today.
13:59
And I'm not going to select supplier as well, then hit show.
14:10
So, here's the part for the inventory floor plan item.
14:15
Here's the serial number, it shows the bill number as well, and how much it was sold for, and the costs.
14:25
Now the bill balance, it shows 150, and new payment here, 150.
14:32
This is the amount that we're going to pay.
14:34
To create a check, just hit this create check button, and then it shows you a number.
14:44
This is not actually the check number, but this is the unique number of the check.
14:49
To complete this check, just go to menu, accounts, payable, checks, added checks, and then under Unique number field just entered in three and that shows the check that has been created and then just hit edit and then just hit post here.
15:24
So it should prompt you this window to provide the check number.
15:28
Let's say one, two, three, four, five as our check number, click okay.
15:34
And then once you're done providing the check number, it should prompt you this one to print check number 12345.
15:44
So for this new administration, I'm not going to print it.
15:46
I'll just hit no for this.
15:49
And that posted our check.
15:53
Now let's go back to that report, floor plan item or floor plan payments.
16:02
and leave that option show sold show not paid and it's no longer here but if you click on show paid sorry and show sold now it's showing here that this bill has been paid and here's the check number showing up in here alright so that would all for today's presentation.
16:32
In case you're having issues regarding the inventory floor planning right now, just call support to get immediate assistance.
16:40
And before we proceed to our Q&A version, let me just share it to you our webinar archives.
16:50
If you want to sign up for webinars or view previously recorded events just go to windwardsoftware.com slash webinars and we also have available resources within in line with help center you can be able to view all available resources sorry all available all available resources are listed here just go to windwardsoftware.com slash help and in line with customer care portal, you can be able to search our knowledge base.
17:26
You can be able to submit and track support tickets and just go to support.winwardsoftware.com.
17:36
And in Winward Learning Academy, you can spin up new employees and have lesson-based topics.
17:42
Just go to academy.winwardoncloud.com.
17:47
And if you want to get assistance from one of our professional services specialists in line with working with system integrity or accounting role-based plan.
18:00
Sorry, just contact your account manager for a code or just directly go to windwardsoftware.com slash professional services.
18:09
Okay, now we will proceed to our Q&A portion.
18:13
If you have any question, just drop it down on the question box below.
18:19
All right, thanks so much, Abby. We have our first question from Deb.
18:23
She'd like to know if we can take another look at the floor plan sold report with different dates.
18:30
Oh, sure.
18:35
But I don't have sold floor plan items.
18:59
Yeah, I don't have other inventory floor plan items that are sold. I mean, yeah, that's the first item that I have been sold.
19:10
Okay, well, maybe we can connect with Deb afterwards and take a look.
19:14
Sure.
19:15
Okay, excellent.
19:17
So that's what we'll do, Deb.
19:18
I'll open a ticket and we'll have Abby give you a call or another available technician and we'll take a look at that directly on your system.
19:25
If there are any other questions, please put them in the question box.
19:30
Our next webinar will be on March 24th.
19:33
We're going to be discussing everybody's favorite inventory kits, so you won't want to miss that one.
19:37
I know there's always a lot of questions when it comes to kits.
19:46
All right.
19:46
If there's any other questions, you can enter them in now.
19:58
All right.
19:58
Well, I don't see any questions.
20:00
You did a great job of explaining things, Abby.
20:02
Thanks so much for your presentation today.
20:05
And thank you, everyone, for joining us today.
20:07
We will see you in two weeks to talk about inventory kits.
20:12
Thanks so much.
20:12
Have a great day.
20:14
Have a great day, everyone.
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