Expenses TRAINING—PARTS EXPENSE ACCOUNT 7640 ACCOUNT EXPLANATION TRANSACTIONS ACCOUNT EXPLANATION Costs of training parts department employees. Includes tuition, travel, meals, and lodging resulting from attendance at training schools, as well as training material and visual aids used in the parts department. TRANSACTIONS Jrnl. Dr. Cr. Parts manager’s expenses at parts club meeting CD Read more about Training—Parts[…]
Expenses PROMOTION—PARTS EXPENSE ACCOUNT 7631 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Promotional costs that are directly related to the sale of parts. Includes handbills, merchandise displays, placards, entertainment of prospective customers, gifts, and awards. TRANSACTIONS Jrnl. Dr. Cr. Purchase of material for accessories display in parts department CD Promotion—Parts 7631 Read more about Promotion—Parts[…]
Expenses ADVERTISING—PARTS EXPENSE ACCOUNT 7630 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Advertising costs that are directly related to the sale of parts. Includes parts department advertising in media: newspapers, television, radio, magazines and direct mail including postage; and the cost of customer mailing lists. TRANSACTIONS Jrnl. Dr. Cr. Purchase of trade magazine space Read more about Advertising—Parts[…]
Expenses ADVERTISING REFUNDS/ALLOWANCES—PARTS EXPENSE ACCOUNT 7621 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Refunds from FDAF of LMDA 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—Parts 7621 Read more about Advertising Refunds/Allowances—Parts[…]
Expenses COMMISSIONS & INCENTIVES—OTHER—PARTS EXPENSE ACCOUNT 7620 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Commissions and incentives paid or accrued to parts managers and employees on the sale of parts and accessories. Includes incentives based on the performance of the parts department. TRANSACTIONS Jrnl. Dr. Cr. Commissions earned by parts counter salespeople PR Read more about Commissions & Incentives—Other—Parts[…]
Expenses SALARIES—OTHER—PARTS EXPENSE ACCOUNT 7610 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Salaries and wages, including vacations, granted holidays, authorized paid absence form work, and training time, of parts department employees. Includes earnings of the following employees: parts counter salespeople, outside wholesale parts salespeople, parts sales clerks, parts cashiers, and parts record clerks. TRANSACTIONS Jrnl. Read more about Salaries—Other—Parts[…]
Expenses COMMISSIONS & INCENTIVES—MANAGERS—PARTS EXPENSE ACCOUNT 7605 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Commissions and incentives paid or accrued to parts managers on the sale of parts and accessories. Includes incentives based on the performance of the parts department. TRANSACTIONS Jrnl. Dr. Cr. Commissions earned by parts managers PR Commissions & Read more about Commissions & Incentives—Managers—Parts[…]
Expenses SALARIES—MANAGERS—PARTS EXPENSE ACCOUNT 7600 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Salaries and wages, including vacations, granted holidays, authorized paid absence from work, and training time, of parts department managers. TRANSACTIONS Jrnl. Dr. Cr. Gross earnings of parts manager for payroll period PR Salaries—Managers—Parts 7600 Accrued Payroll 2410 Read more about Salaries—Managers—Parts[…]
Expenses OTHER EXPENSES—F & I—USED EXPENSE ACCOUNT 7470 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Expenses other than salaries and commissions that are chargeable to the F & I department. Includes F & I advertising, promotion and training expenses. TRANSACTIONS Jrnl. Dr. Cr. F & I Manager’s travel, meals and lodging expense incurred in Read more about Other Expenses—F & I—Used[…]
Expenses COMMISSIONS & INCENTIVES—F & I—USED EXPENSE ACCOUNT 7460 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Commissions and incentives paid or accrued to used vehicle F & I managers or other F & I employees on the sale of finance contracts, insurance, service contracts, etc. Includes incentives based on the performance of the F & I Read more about Commissions & Incentives—F & I—Used[…]