Record advances, interest, and curtailments
Set the advance rate and terms on a line, attach a floored vehicle with its starting balance, then record curtailment, interest, and principal payments against it.
Floor plan tracking has two layers. The line holds the rate and terms. Each floored vehicle carries its own advance balance (the Starting balance), a curtailment schedule, and a payment ledger. This page covers setting up the line, attaching a vehicle, then recording payments against it.
Set the rate on the line first
The APR, term, and curtailment percentage live on the floor plan line, not the vehicle. Set them once per lender line.
- Go to Floor plan and click Add line.
- Pick the Provider (lender).
- Enter a Nickname (e.g. "NextGear Primary") and the Credit limit.
- Enter the APR (%), the Term (days), and the Curtailment (%).
- Click Add line.
Enter APR (%) and Curtailment (%) as whole-number percents (type 8.5 for 8.5%, 10 for 10%). The form converts them to decimals before saving.
Record the advance (attach a vehicle)
The advance amount is set per vehicle when you put it on a line. This is the Starting balance — the principal the lender floored. You attach from the vehicle's Floor plan card in Inventory.
- Open the vehicle in Inventory and find the Floor plan card.
- Click Attach to line.
- Choose the Line. (The picker shows each line as
Provider — Nickname (APR% / termDaysd), e.g.,NextGear Primary — 2024 Line (8.50% / 90d).) - Enter the Starting balance — the dollar amount advanced on this car.
- Add Notes if you want, then click Attach.
The Attach to line button is disabled until you have at least one floor plan line. If you have none, the card links you to Add a line first.
When you attach, the app auto-builds a curtailment schedule: a curtailment every 30 days, each equal to the starting balance times the line's curtailment percent, repeating until the full starting balance is scheduled (the last row is trimmed to the exact remainder). If the line's term runs out before the balance is fully scheduled, one final balloon row for the remainder is added at the term date. You'll see the schedule in the Curtailment schedule table, and the soonest scheduled one shows as Next curtailment.
A vehicle can only be on one active line at a time, and the line must be Active to attach. To move a car to a different line, pay off the current attachment first.
Record a curtailment, interest, or principal payment
All three payment types are recorded the same way, from the vehicle's Floor plan card.
- On the vehicle's Floor plan card, click Record payment.
- Pick the Type — Curtailment, Interest, or Principal.
- Enter the Amount, the Principal portion, and the Interest portion.
- Add Notes if needed, then click Record payment.
Here's what each field does:
- Principal reduces the vehicle's Current balance dollar-for-dollar.
- Interest is recorded for your records but does not change the balance — there is no separate interest ledger or accrual; it's just captured on the payment.
- Amount must equal Principal + Interest exactly, or the payment is rejected.
For an Interest payment, the Principal portion must be 0.00 — interest-only payments are rejected otherwise. To apply both principal and interest at once, use Curtailment or Principal and fill in both portions.
The form pre-fills both Amount and Principal with the next curtailment due (and Interest with 0.00), so a standard full curtailment is one click. Adjust the split if part of the payment is interest.
How a curtailment marks the schedule paid
A Curtailment payment only flips the next scheduled curtailment to paid when the Principal you applied is at least the scheduled amount due. A short payment still reduces the balance, but the curtailment stays scheduled — so the schedule never tells you a $1,200 curtailment is satisfied by a $100 payment.
Pay off the balance
When the car sells or you want to clear the line:
- On the vehicle's Floor plan card, click Pay off.
- Confirm the remaining balance shown in the prompt.
Payoff records a payoff payment for the full remaining principal, zeroes the balance, and skips any remaining scheduled curtailments. Marking the vehicle sold also auto-pays-off the line, zeroing the balance and skipping any remaining scheduled curtailments — unless the balance is already zero. (Auto-payoff on sale is automatic with no option to disable it in the current version.)
Payoff is its own payment type, but it isn't an option in the Record payment form's Type picker — it's created only by the Pay off button (and the auto-payoff on sale).
Fix a mistake
Recorded a payment with the wrong amount or split? The correct fix is to void that payment rather than record a negative one — negative amounts are rejected. Voiding adds the principal back to the balance, reopens any curtailment it had satisfied, and reactivates a paid-off attachment if a balance remains. Then re-record the payment correctly.
Voiding a floor-plan payment is not yet a button on the vehicle's Floor plan card — voided payments show struck through with a (voided) tag, but there's no in-app void action there today. To void a payment, ask an admin to run the void on your behalf. Don't post a negative payment to "undo" one; it will be rejected.
Every payment is idempotent — a double-click, retry, or refresh after a slow network won't post it twice or double-reduce the balance. If you see "Network error — the payment was NOT confirmed," retry from the same form.
What this does and doesn't do
- No automatic interest accrual. The app does not compute daily interest for you. Interest is whatever you type into the Interest portion when you record a payment — enter the figure from your lender's statement.
- No late fees on floor plan. There is no late-fee charge type here. (Late fees exist on BHPH in-house loans, not floor plan.) An overdue curtailment is flagged overdue on the Floor plan dashboard so you can act on it.
- Days in floor is shown per vehicle and bucketed (0–30 / 30–60 / 60–90 / 90+) in the Aging buckets chart on the Floor plan dashboard, measured from the attach date.
FAQ
Where do I set the advance amount?
Per vehicle, as the Starting balance when you click Attach to line on the vehicle's Floor plan card. The APR and term come from the line you attach to.
Does the app calculate interest automatically?
No. Interest is recorded manually as the Interest portion of a payment. Enter the amount from your lender's statement.
My curtailment is still showing as scheduled after I paid it. Why?
The Principal portion you applied was less than the scheduled amount. A curtailment only marks paid when the principal covers the full amount due. Record the rest, or void and re-record with the correct split.
Can I charge a late fee on a floored vehicle?
Not in floor plan — there is no late-fee type here. Late fees are a BHPH (in-house financing) feature. Overdue curtailments are flagged on the Floor plan dashboard instead.
How do I move a car to a different line?
Pay off the current attachment first — a vehicle can only have one active floor plan attachment at a time. Then attach it to the new line.
Who can record floor plan payments?
Any signed-in dealer user with access to the dealership can open the Floor plan area and a vehicle's Floor plan card to set up lines, attach vehicles, and record payments. There's no separate Owner/Manager-only gate on these actions today, so treat it as a back-office function and limit access through who you give accounts to.