Assets INVENTORY—NEW CARS ASSET ACCOUNT 1300 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Cost of new cars on hand, including labor and material charges for dealer-installed options and accessories. Cost excludes holdback, and other manufacture rebates, & cost reduction programs on vehicles purchased from Ford Motor Company. New vehicles purchased from the company should be recorded Read more about Inventory—New Cars[…]
Assets ALLOWANCE FOR DOUBTFUL FORD RECEIVABLES ASSET ACCOUNT 1291 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Allowance for loss from uncollectible Ford Receivables, excluding Ford Warranty and Policy receivables. TRANSACTIONS Jrnl. Dr. Cr. Monthly adjustment of allowance for doubtful Ford Receivable SE Applicable Cost of Sale Accounts 4400-etc. Allowance Read more about Allowance for Doubtful Ford Receivables[…]
Assets ALLOWANCE FOR DOUBTFUL RECEIVABLES ASSET ACCOUNT 1290 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Allowance for loss from notes and accounts receivable that may be uncollectible. TRANSACTIONS Jrnl. Dr. Cr. Monthly adjustment of allowance for doubtful notes and accounts SE Bad Debts 8700 Allowance for Doubtful Receivable 1290 Read more about Allowance for Doubtful Receivables[…]
Assets FINANCE RECEIVABLES—CURRENT ASSET ACCOUNT 1280 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Portion of finance income currently due and payable to the dealership and amounts due from insurance companies for commissions earned on insurance policies sold. TRANSACTIONS Jrnl. Dr. Cr. Finance income due and payable on finance sale of new car NV Read more about Finance Receivables—Current[…]
Assets FORD RECEIVABLE—OTHER ASSET ACCOUNT 1270 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Amounts due from Ford Motor Company not expressly provided for elsewhere in this Manual such as Carryover Allowance, Parts Claims (including Parts Inventory Protection), etc. TRANSACTIONS Jrnl. Dr. Cr. Parts returned under specific return program G Ford Receivable—Other 1270 Read more about Ford Receivable—Other[…]
Assets FORD RECEIVABLE—FDAF ASSET ACCOUNT 1265 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Co-op advertising program designed to provide financial support for advertising costs. TRANSACTIONS Jrnl. Dr. Cr. Ford Division Advertising Fund amounts due dealership VP Ford Receivable—FDAF 1265 Advertising Refunds/Allowances—New 7120 Read more about Ford Receivable—FDAF[…]
Assets FORD RECEIVABLE—PREPARATION & CONDITIONING ASSET ACCOUNT 1240 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Amounts due from Ford Motor Company for preparation and conditioning of new vehicles. TRANSACTIONS Jrnl. Dr. Cr. Purchase new vehicles from Ford Motor Company VP Ford Receivable—Preparation & Conditioning 1240 Pre-Delivery Refunds—New 7040 Read more about Ford Receivable—Preparation & Conditioning[…]
Assets FORD RECEIVABLE—FLOOR PLAN ASSISTANCE ASSET ACCOUNT 1230 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Amounts due from Ford under the Floor Plan Assistance Program. Under the program, dealerships receive payments to offset floor plan interest expense beyond the 15-day Floor Plan Program. TRANSACTIONS Jrnl. Dr. Cr. Floor Plan assistance on vehicles purchased during Read more about Ford Receivable—Floor Plan Assistance[…]
Assets FORD RECEIVABLE—PRICE PROTECTION ASSET ACCOUNT 1220 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Price Protection is intended to ensure firm prices to Ford dealers and their customers in those where prices may be increased by the Company between the time a dealer bids and orders a vehicle and the time a vehicle is released for Read more about Ford Receivable—Price Protection[…]
Assets FORD RECEIVABLE—C.P.A. ASSET ACCOUNT 1210 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Competitive Price Assistance (C.P.A.) granted to Ford dealerships to meet competitive need when bidding Ford medium and heavy trucks against similar vehicles of other manufacturers. TRANSACTIONS Jrnl. Dr. Cr. C.P.A. due Ford Motor Company on sale of a vehicle VS Read more about Ford Receivable—C.P.A.[…]