Sales and Cost of Sales PARTS—INTERNAL—SERVICE ACCOUNT SALES 5470/5471/5475/5476 COST OF SALES 6470/6471/6475/6476 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Sales: Internal selling price of parts sold to other departments in connection with new vehicle preparation, installation of accessories on new vehicles, used vehicle reconditioning, and maintenance of company vehicles. Cost of Sales: Inventory value if Read more about Parts—Internal—Service[…]
Sales and Cost of Sales PARTS—WARRANTY & POLICY CLAIMS—SERVICE ACCOUNT SALES 5460/5461/5462 COST OF SALES 6460/6461/6462 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Sales: Selling price at authorized reimbursement rates of parts used in connection with work performed in the service department under the Ford Motor Company warranty and policy program. Cost of Sales: Inventory value Read more about Parts—Warranty & Policy Claims—Service[…]
Sales and Cost of Sales SALES—PARTS—ESP ACCOUNT SALES 5440/5441/5445 COST OF SALES 6440/6441/6445 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Sales: Selling price of parts installed in dealer’s repair shop and sold to customers on completed repair orders, including fleet owners and insurance companies, under any Extended Service Plan. NOTE: Dealers with competitive franchises (Non FoMoCo) Read more about Sales—Parts—ESP[…]
Sales and Cost of Sales PARTS—REPAIR SHOP ACCOUNT SALES 5430/5431/5435/5436 COST OF SALES 6430/6431/6435/6436 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Sales: Selling price of parts installed in dealer’s repair shop and sold to customers on completed repair orders, including fleet owners, insurance companies and vehicles damaged in transit, as well as to individual vehicle owners. Read more about Parts—Repairs Shop[…]
Sales and Cost of Sales PARTS—COUNTER RETAIL ACCOUNT SALES 5420/5421/5422 COST OF SALES 6420/6421/6422 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Sales: Selling price of parts sold over the counter to retail customers and employees. Cost of Sales: Inventory value of above parts sold. NOTE: Dealers with competitive franchises (Non FoMoCo) separate parts and report FoMoCo Read more about Parts—Counter Retail[…]
Sales and Cost of Sales PARTS—WHOLESALE ACCOUNT SALES 5400/5401/5402 COST OF SALES 6400/6401/6402 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Sales: Selling price of parts sold to customers generally recognized as wholesale, such as fleet owners, service stations, and other automobile dealers. Cost of Sales: Inventory value of above parts sold. NOTE: Dealers with competitive franchises Read more about Parts—Wholesale[…]
Sales and Cost of Sales GAP INSURANCE CONTRACTS INCOME—USED ACCOUNT 5190 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Income from the sale of insurance on used vehicles. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Commission earned on gap insurance on used vehicles UV Read more about Gap Insurance Contracts Income—Used[…]
Sales and Cost of Sales OTHER SALES—F & I—USED ACCOUNT SALES 5160 COST OF SALES 6160 ACCOUNT EXPLANATION TRANSACTIONS ACCOUNT EXPLANATION Sales: Selling price of after-sale services sold to customers by the F & I Department, including undercoating, exterior coating, fabric protection, etc. Cost of Sales: The costs of such services. *Refer to Chart of Read more about Other Sales—F & I—Used[…]
Sales and Cost of Sales EXTENDED SERVICE CONTRACT REFUNDS—USED ACCOUNT 5150 ACCOUNT EXPLANATION TRANSACTIONS ACCOUNT EXPLANATION Refunds to customers covering the cancellation of an ESP contract. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers TRANSACTIONS Jrnl. Dr. Cr. Cancellation of ESP contract UV Customer Service Contract Read more about Extended Service Contract Refunds—Used[…]
Sales and Cost of Sales EXTENDED SERVICE CONTRACT INCOME—USED ACCOUNT 5140 ACCOUNT EXPLANATION TRANSACTIONS COMMENTS ACCOUNT EXPLANATION Income from the sale of used Extended Service Plan Contracts offered by the Company and other plans offered by the dealer but not sponsored by the Company. *Refer to Chart of Accounts for current applicable Sales/Cost of Sales Read more about Extended Service Contract Income—Used[…]