Customer Accommodation – Ford Online Accounting Manual

Liabilities and Net Worth

CUSTOMER ACCOMMODATION	LIABILITY ACCOUNT
	2310

ACCOUNT EXPLANATION
TRANSACTIONS
COMMENTS

ACCOUNT EXPLANATION

Collections from customers for remittance to others, including finance and insurance contract installments; title, registration, and license fees; and liens payable to finance institutions on vehicles taken in trade, purchased, or repossessed.

TRANSACTIONS

			Jrnl.	Dr.	Cr.

Cash collected from customer for finance contract installment			CR
	Cash in Bank—General			1001
		Customer Accommodation			2310

Remittance of customer’s installment payment			CD
	Customer Accommodation			2310
		Cash in Bank—General			1001

COMMENTS

Collections should be remitted on a daily basis.
Subsidiary records should support this account.
Accounts in the 2311-2314 series may be used if separate accounts for various types of customer accommodation are desired.