415 – Subaru Fleet

New Vehicle Department

Sales Synopsis

Account 415

Debits

Credits

 

  1. The sales price of all Subaru units sold to fleet customers (as defined below).

615 – Subaru Fleet

New Vehicle Department

Cost of Sales Synopsis

Account 615

Debits

Credits

  1. The inventory value of Subaru fleet units sold.

 

 

 

Remarks:

Discounts and over allowances on fleet vehicle sales should be netted against the gross sale amount, inasmuch as a separate account has not been provided for these items.

For accounting clarification, the following classifications and/or conditions will serve as a guide in determining fleet vehicle sales: all units sold to state and local governmental agencies, such as state offices or city, county, township, etc. (vehicles sold to these agencies are usually done so under "Special Bids"); all units sold to public utilities (municipally or privately owned); all taxicabs; all police cars; driver education vehicles actually sold to educational institutions (including professional and private schools) on an unrestricted basis (title passing to such institution); and all units sold to lease and rental companies where title passes to the lease or rental company.

All sales and cost data should be recorded on the vehicle inventory record at the time of sale.

Note: