Floor Plan Curtailment
Nsf s late curtailments slow payoffs and bad audits will inevitably prevent you from gaining the additional buying power you need to grow your business.
Floor plan curtailment. In floor plan lingo curtailment is a fancy word that means amortization. The default credit is set to 1010 cash in house in misc 1 8 accounting. This usually happens around october.
Accounting floor plan curtailment is paid. The dealer can change to another account if preferred. Curtailment schedules vary by floor plan providers but they generally range from 5 20 of the original loan proceeds on each vehicle every 30 60 90 120 days.
The g l impact is a debit to 2110 notes payable a. Stay on top of managing your account be honest and communicative and you shouldn t have any problems.