Accounting Vehicle is Floor Planned

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Accounting Vehicle is Floor Planned

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When entering a vehicle and floor planning at the time of entry, the G/L will post a debit to the 1450 Inventory account and a credit to 2110 Notes Payable-Used Vehicles.  

 

If you are adding floor planning to an existing vehicle, the G/L will post a credit to 2110 Notes Payable-Used Vehicles and a debit to the G/L account selected when the vehicle was added to the system.