Expenses INTEREST—FLOOR PLAN—NEW EXPENSE ACCOUNT 7180 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Interest expense paid or accrued on loans obtained to finance new vehicles, excluding vehicles in demonstrator service. Includes flat rate charges and inventory insurance costs that are included in new vehicle floor plan charges. TRANSACTIONS   Jrnl. Dr. Cr.   Monthly accrual of Read more about Interest—Floor Plan—New[…]

Expenses SERVICE LOANER EXPENSE REFUNDS—NEW EXPENSE ACCOUNT 7170 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Amounts received from the Company as reimbursements, under the Service Loaner Program, for service loaner expenses incurred by the new vehicle department. TRANSACTIONS   Jrnl. Dr. Cr.   Invoice Ford for service loaner expense for a rental vehicle also used as Read more about Service Loaner Expense Refunds—New[…]

Expenses SERVICE LOANER EXPENSE—NEW EXPENSE ACCOUNT 7160 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION That portion of total service loaner expense that is allocated to the new vehicle department. Service loaner expense is that portion of the total expense of leased or owned rental vehicles which can be allocated to service loaner usage—including monthly lease fees Read more about Service Loaner Expense—New[…]

Expenses DEMONSTRATOR EXPENSE—NEW EXPENSE ACCOUNT 7150 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Expenses of financing, maintaining and repairing demonstrators in service for the benefit of the new vehicle department. Includes floor plan interest, insurance, licence fees, gas, lubrication, washing, repairs and related expenses absorbed by the dealership on demonstrators owned by or assigned to new Read more about Demonstrator Expense—New[…]

Expenses TRAINING—NEW EXPENSE ACCOUNT 7140 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Costs of training employees of the new vehicle department. Includes tuition, travel, meals, and lodging resulting from attendance at training schools; training material and visual aids used in the new vehicle department; and payments to commission salespeople in lieu of commissions for attending training Read more about Training—New[…]

Expenses PROMOTION—NEW EXPENSE ACCOUNT 7130 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Sales promotion costs that are directly related to the sale of new vehicles. Includes new car driveouts (factory and other dealers), entertainment of fleet owners, promotional banners and pennants, color and upholstery books, auto show exhibits, salespeople’s business cards, price comparison material, showroom displays, Read more about Promotion—New[…]

Expenses ADVERTISING REFUNDS/ALLOWANCES—NEW EXPENSE ACCOUNT 7120/7121 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Refunds from FDAF, LACP, and Co-op advertising funds, with amounts determined by local associations. TRANSACTIONS   Jrnl. Dr. Cr.   Advertising expenditures reported to local association P     Accounts Receivable—Other 1130       Advertising Refunds/Allowances—New 7120           Read more about Advertising Refunds/Allowances—New[…]

Expenses ADVERTISING—NEW EXPENSE ACCOUNT 7110 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Advertising costs that are directly related to the sale of new vehicles. Includes new vehicle advertising in media: newspapers, television, radio, magazines, Internet Advertising (Dealer & Ford sponsored) and direct mail including postage; and the cost of owner registration lists. NOTE: Does not include Read more about Advertising—New[…]

Expenses SALARIES—OTHER—NEW EXPENSE ACCOUNT 7100 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Salaries, wages, and incentives earned by clerical and other employees of the new vehicle department, including vacation pay, granted holidays, authorized absence from work, and training time. Includes incentives based on the performance of the new vehicle department. TRANSACTIONS   Jrnl. Dr. Cr.   Read more about Salaries—Other—New[…]

Expenses SALARIES—SALES MANAGERS—NEW EXPENSE ACCOUNT 7080 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Salaries earned by supervisors of new vehicle salespeople, including vacation pay, granted holidays, authorized absence from work, and training time. TRANSACTIONS   Jrnl. Dr. Cr.   Salary earned by new car sales manager PR     Salaries—Sales Managers—New 7080       Accrued Read more about Salaries—Sales Managers—New[…]