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FloorTrax floor plan FAQ

1.      What is FloorTrax?

2.      Is it a multi user system?

3.      Is it a Web Based application or a Client/Server application?

4.      Is it designed for Automobile Financing Only?

5.      What types of companies can use FloorTrax?

6.      What Accounting Systems are supported?

7.      What is Remote Data Sharing?

8.      How are interest and fees calculated?

9.      Are Curtailments available

10.  Can default financial parameters be defined

11.  Does the system offer Email and Fax support?

12.  What operating systems are supported?

13.  Will it work with windows Firewall?

14.  Installation considerations on Windows Vista and Windows 7

15.  What Database application is used?

16.  Can I have multiple companies?

17.  Can I access my data directly?

18.  Can I export my Data?

19.  Is there support for imaging?

1. What is FloorTrax? - FloorTrax is financial product designed to assist Banks, Finance Companies, Manufacturers and others who provide product or inventory financing (known as floor planning), to control, administer and protect their Floor Plan funds.

2.     Is it a multi-user system? -  The FloorTrax Floor Plan Management system is a fully multi-user system.

3.      Is it a Web Based application or a Client Server System? – ERT TransMan is a Client/Server based system.  All components are installed locally on your network.  Our system never communicates back to our servers.  You have complete control and protection of your systems and data.

4.      Is it for Automobile Financing Only? – No.  Though originally written for the Automobile Floor Plan industry, FloorTrax has been revised to support Manufacturers, distributors, and dealers of any industry.  User definable selections allow for customization of the floor plan you wish to administer.

5.      What Types of Companies can use FloorTrax?  Banks and local finance companies were the initial users of FloorTrax.  These traditional finance entities have generally been the ones to provide 3rd party Inventory Management financing.  Recently, Manufacturers have begun to transition from Open Accounts Receivable sales to formalized floor plans.  Their in-house financing operations have used FloorTrax to control these functions internally.  Anyone who wishes to loan money to auto dealers, distributors or dealers of large ticket items (mowers, trailer, musical instruments), allowing them to put product on their showroom floors is a potential user of FloorTrax.

6.      What Accounting Systems are supported? – The FloorTrax supports QuickBooks Pro 2007+, and the ERT Accounting System.  Future plans call for the introduction of a Peachtree interface.

QuickBooks requires one licensed copy per workstation, or use of the QuickBooks Remote Data Sharing system.  Individual users may disable the interface on their workstation (not recommended) if QuickBooks is not available. The ERT Accounting System is required to be installed on a workstation only if that user needs direct accounting access.

7.      What is Remote Data Sharing (RDS)?  The RDS is a free utility provided by Intuit, the makers of QuickBooks.  It allows Multiple 3rd party programs (i.e. FloorTrax) to share one licensed copy of QuickBooks.  When RDS is used, a sharing server is installed on the computer where the licensed copy of QuickBooks is installed.  Additional users will install an RDS Client software.  The Client software will allow the additional users to connect to the QuickBooks data file and interact with it as though QuickBooks is present.

8.      How are Interest and Fees Calculated?  - FloorTrax allows each organization to choose whether they wish to invoice their dealer for traditional monthly interest charges or by using a Flat Fee schedule.

Monthly Interest charges are definable by Dealer.  Charges are based upon the number of days the item is on the plan during the month.  Users may define Sliding rate interest scales and interest free periods to customize their plans.

Flat Fees are assessed at the time of purchase and in monthly batches.  Each unit or vehicle may be assigned a flat fee rate.

Other Fees- Other fees are user definable.  Preferences allow for the enabling or disabling of fee categories.  Other fees include Late Charges, Missing Item fees, extension fees and more. 

9.      Are Curtailments Available? – Curtailments are available as Ad Hoc (on demand) or recurring.  Each unit/vehicle will be assigned a curtailment schedule if automatic curtailments are turned on in the organizations preferences.  You may choose when curtailments begin, how often they occur and at what rate.  Of course, Ad Hoc curtailments may be processed anytime.

10.  Can default financial parameters be assigned?  The organization may define its default settings.  These defaults are applied to each dealer as they are created, though they may be overridden at the dealer level.  Dealer defaults cascade down to the Unit/Vehicle level and may be overridden at the unit level.

11.  Does the system offer email and fax support? -  Email and Fax support are integral components of the system.  All batch process, invoicing processes and reports are supported.  Dealer preferred sending methods and black out dates are supported.  Both the email and Fax Server are included with the FloorTrax purchase.

12.  What operating systems are supported? – Windows XP, Windows 2000/2000 Server, Windows Server 2003, Windows Server 2008, Windows Vista 32/64 bit versions, Windows 7- 32/64 bit versions.

13.  Will it work with Windows Firewall? – Windows firewall must be properly configured to permit access by our program and our database drivers to function with Windows Firewall.  Our licensing key uses a UDP broadcast to locate License server.  It is often blocked by windows firewall and may require an INI file to be installed.

14.  Installation Considerations on Windows Vista and Windows 7 – User Account Control (UAC) must be turned off, or reduced to its lowest warning level (windows 7).  Please make sure that the program is installed with ADMINISTRATOR permissions. 

15.  What Database application is used? -  FloorTrax is based on the Microsoft Access database system, tough the program itself is written in Visual Basic. 

16.  Can I have Multiple Companies? -  Yes, absolutely.  You may setup as many distinct companies as you wish.  Each company will have its own database and will be related to a corresponding accounting data file.  You may use the QuickSwitch function to change companies. 

17.  Can I access my Data?  Yes, the data is stored in an unrestricted Microsoft Access database.  Any user with Microsoft Access can open the data directly.

18.  Can I export my Data? – As the Access database is not locked, you may use Microsoft Access to export any data you wish to Excel or any other format supported.  Dedicated bank export files to Excel spreadsheets are included in the system.  Any custom exports required can be created for a modest fee.

19.  Is there Support for Imaging? -  Yes, FloorTrax has support for Imaging.  It is based upon Barcodes.  Each organization must obtain barcode labels with sequential numbers.  Most commercial scanners support reading barcodes and the saving of PDF documents to network locations using the barcode.

FloorTrax will record the barcodes of important documents.  Once recorded and imaged, documents may be viewed from within the program.