Expenses Variable Expenses—New Parts Department Expenses Variable Expenses—Used Service Department Expenses Semi-Fixed Expenses—New Body Shop Expenses Semi-Fixed Expenses—Used Fixed Expenses Variable Expenses—New   Commissions & Incentives—Salespeople—New Commissions & Incentives—Sales Managers—New Commissions & Incentives—F & I—New Pre-Delivery—New Pre-Delivery Refunds—New Free Service/Maintenance & Policy—New Variable Expenses—Used   Commissions & Incentives—Salespeople—Used Commissions & Incentives—Sales Mangers—Used Commissions & Incentives—F Read more about Expenses Menu[…]

Expenses DEALER SALARY EXPENSE ACCOUNT 8900 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Salaries of officers of a dealership corporation, partners, or proprietor engaged in the general management of the dealership. TRANSACTIONS   Jrnl. Dr. Cr.   Salary earned by dealer PR     Dealer Salary 8900       Accrued Payroll 2410 COMMENTS The salaries Read more about Dealer Salary[…]

Expenses MISCELLANEOUS EXPENSE EXPENSE ACCOUNT 8820/8825/8841 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Expenses of operation of the dealership which are not specifically provided for elsewhere in this Manual. Includes gifts and flowers to employees, Christmas party expense, training of administrative employees, help wanted ads, dues and subscriptions, employee overtime meals, bank service charges, safe deposit Read more about Miscellaneous Expense[…]

Expenses TRAVEL & ENTERTAINMENT EXPENSE ACCOUNT 8800/8805/8826 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Expense of travel and entertainment in connection with the operation of the dealership, such as transportation, lodging, meals, and entertainment of customers. TRANSACTIONS   Jrnl. Dr. Cr.   Reimbursement of dealer for entertainment of customer CD     Travel & Entertainment 8800 Read more about Travel & Entertainment[…]

Expenses EQUIPMENT & VEHICLE MAINTENANCE—GENERAL EXPENSE ACCOUNT 8780 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Expenses of repairing and maintaining office equipment, office machines and signs; and expenses of repairing, maintaining, operating, and financing vehicles used for general and administrative purposes. Includes expense of demonstrators assigned to the dealer, general manager and office manager. TRANSACTIONS   Read more about Equipment & Vehicle Maintenance—General[…]

Expenses DEPRECIATION—EQUIPMENT EXPENSE ACCOUNT 8760/8765/8806 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Expense of depreciation of all equipment, furniture, signs, and company vehicles TRANSACTIONS   Jrnl. Dr. Cr.   Monthly depreciation of shop equipment SE     Depreciation—Equipment 8760     Depreciation—Equipment—Service—QL/FL/QCSC 8765     Depreciation—Equipment—Parts—QL/FL/QCSC 8806       Accumulated Depreciation—Parts, Service and Body Shop Read more about Depreciation—Equipment[…]

Expenses INTEREST—EXCLUDING VEHICLE & MORTGAGE EXPENSE ACCOUNT 8740 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Interest expense, other than interest on floor planned vehicles and mortgages. TRANSACTIONS   Jrnl. Dr. Cr.   Monthly accrual of interest on ninety-day bank loan SE     Interest—Excluding Vehicle & Mortgage 8740       Accrued Interest 2421     Read more about Interest—Excluding Vehicle & Mortgage[…]

Expenses CONTRIBUTIONS EXPENSE ACCOUNT 8720/8725/8766 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Expense of contributions to charitable, educational, religious, and similar organizations. TRANSACTIONS   Jrnl. Dr. Cr.   Contributions to community Fund CD     Contributions 8720     Contributions—Service—QL/FL/QCSC 8725     Contributions—Parts—QL/FL/QCSC 8766       Cash in Bank—General 1001 COMMENTS Tax counsel should Read more about Contributions[…]

Expenses BAD DEBTS EXPENSE ACCOUNT 8700/8705/8726 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Provision for estimated or actual losses from uncollectible accounts and notes receivable. TRANSACTIONS   Jrnl. Dr. Cr.   Monthly adjustment of allowance for doubtful notes and accounts SE     Bad Debts 8700     Bad Debts—Service—QL/FL/QCSC 8705     Bad Debts—Parts—QL/FL/QCSC 8726 Read more about Bad Debts[…]

Expenses DATA PROCESSING EXPENSE ACCOUNT 8680 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Expense of data processing, including depreciation, rental and maintenance of equipment and vendor charges for systems services. TRANSACTIONS   Jrnl. Dr. Cr.   Monthly payment for accounting service from data processing vendor CD     Data Processing 8680       Cash in Read more about Data Processing[…]