71 – Membership, Dues, & Publications

Operating Expenses

 

Synopsis

Account 71

Debits

Credits

  1. The amount of initiation fees and dues paid to business and civic organizations.

  2. The amount of subscriptions paid for periodicals, business, and trade publications.

 

 

Remarks:

Dues should include such expenditures for membership to automobile dealer associations and business and civic organizations.

Subscriptions should include such items as: Automotive News and other trade publications; used vehicle price guides; parts guidebooks, price bulletins and catalogues; auction reports; newspapers; and magazines.

Subscription lists should be reviewed periodically to ascertain that all expenditures are warranted and beneficial to retailer activities.

Control of these expenses may be affected through the use of purchase orders.

Expenses in this account should be distributed to the respective operating department or prorated as applicable.

Note: