Fleet Light Trucks

• ACCOUNT EXPLANATION
• TRANSACTIONS
• COMMENTS

Sales: Selling price, less any discount or overallowance, of new cars sold to fleet customers and dealership employees.

Cost of Sales: Inventory value of units sold. Note that inventory value is cost less vehicle holdback.

*Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers

• Note that total fleet sales of light-duty trucks should be reported in the Sales/Cost of Sales Accounts 3470 and 4470 for FORD. If you wish to track fleet sales by individual light-duty model, the following numbering system is suggested:

  	Sales	COS
  Expedition—Fleet	3581	4581
  Explorer—Fleet	3413	4413
  Econoline—Fleet	3416	4416
  Ranger—Fleet	3417	4417
  F-150 – 350—Fleet	3517	4517
  Non FoMoCo—Fleet	3477	4477
  Edge	3475	4475
  Escape	3450	4450
  Escape Hybrid	3414	4414
  Transit	3597	4597
  Flex	3484	4484

  Fleet sales of light trucks should not be recorded in Accounts 3400 to 3460 FORD.

• Sales data should be entered on the subsidiary vehicle inventory record.
• Light trucks placed in leasing or rental service within the dealership operation should be recorded as inventory transfers at dealer cost, not as vehicle sales. New vehicle sales to a separate leasing organization, independent or dealer-owned, should be recorded in this account.
• Dealers who need to maintain records of gross sales and/or discounts and overallowances on vehicle sales may use one of two methods:

  1.	Record gross sales and/or discounts and overallowances as memo items in the New Vehicle Sales Journal without regard to vehicle line, or:
  2.	Establish Account 4520, Cost of Sales, Fleet Light Trucks—Discounts & Overallowances, to which discounts and overallowances should be debited. Gross sales amounts should be credited to Account 3470, Sales—Fleet Light Trucks

• Information regarding sales to dealers with an associate sales agreement is contained in instructions issued by Ford Motor Company.