Sales and Cost of Sales New Vehicle Department Cost of Sales—LIFO Used Vehicle Department Parts Department F & I Department—New Vehicles Service Department F & I Department—Used Vehicles Body Shop Department New Vehicle Department New Cars—Retail Sales New Cars—Retail Lease Excess Advertising Assessment Refund—New Fleet Cars—FoMoCo Fleet Cars—Non FoMoCo Car Incentives New Trucks—Light Duty—Retail Read more about Sales and Cost of Sales Menu[…]
Sales and Cost of Sales UNAPPLIED TIME—BODY SHOP COST OF SALES ACCOUNT 6845 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Technicians’ wages not applied in costing sales of customer or internal labor. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Unearned guarantee portion of wages Read more about Unapplied Time – Body Shop[…]
Sales and Cost of Sales UNAPPLIED TIME—SERVICE COST OF SALES ACCOUNT 6740/6741 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Technicians’ wages not applied in costing sales of customer or internal labor. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Unearned guarantee portion of wages paid Read more about Unapplied Time—Service[…]
Sales and Cost of Sales PARTS RETURN AND HANDLING CHARGES ACCOUNT 6580/6571 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Costs pertaining to over-returns of parts to Ford Motor Company. Small Order Handling Charges. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Parts return under the Read more about Parts Return and Handling Charges[…]
Sales and Cost of Sales PARTS INVENTORY ADJUSTMENT COST OF SALES ACCOUNT 6570/6585 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Provision for shrinkage in parts inventory resulting from obsolescence, theft, and breakage. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Monthly provision for shrinkage in Read more about Parts Inventory Adjustment[…]
Sales and Cost of Sales REBATES—UNUSED PARTS RETURNED ALLOWANCE ACCOUNT 6560/6561/6562 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Cash rebates of unused parts return allowances. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Rebate of unused parts return allowance due from Ford Motor Company at Read more about Rebates—Unused Parts Return Allowance[…]
Sales and Cost of Sales PARTS—DISCOUNT EARNED ACCOUNT 6550/6565 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Discount earned by ordering parts from Ford Motor Company on regular stock orders. Parts Inventory Protection Plan and small order handling charge. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Read more about Parts—Discount Earned[…]
Sales and Cost of Sales FORD OF CANADA ONLY PARTS—SHOP PURCHASE INCENTIVE ACCOUNT 6450 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Discounts earned on certain parts subject to Purchase Discount, Schedule Quantity Discount and Direct From Source Discount. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Read more about Parts—Shop Purchase Incentive[…]
Sales and Cost of Sales PARTS—SHOP JOBBING INCENTIVE ACCOUNT 6450/6451 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Incentives earned on incentive-bearing parts installed in the repair shop and sold to eligible wholesale customers. NOTE: Dealers with competitive franchises (Non FoMoCo) separate incentive and report FoMoCo (franchise) incentive in Account 6450 and Non FoMoCo (other franchises) in Read more about Parts—Shop Jobbing Incentive[…]
Sales and Cost of Sales FORD OF CANADA ONLY PARTS—WHOLESALE PURCHASE DISCOUNT ACCOUNT 6410/6411 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Discounts earned on certain parts subject to Purchase Discount, Schedule Quantity Discount and Direct From Source Discount. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Read more about Parts—Wholesale Purchase Discount[…]