423 – Other Makes - Retail

New Other Department

Sales Synopsis

Account 423

Debits

Credits

 

  1. The gross sales price of all other make new vehicles sold to retail customers.

623 – Other Makes - Retail

New Other Department

Cost of Sales Synopsis

Account 623

Debits

Credits

  1. The inventory value of all other make new vehicles.

 

 

 

Remarks:

Care should be exercised when recording transfers of optional equipment and accessories between units to facilitate correct billing and costing.  All sales and cost data should be recorded on the vehicle inventory record at the time of sale.

Incentive earnings derived from the sale of eligible other make new vehicles should be credited to Account 623.

Vehicles transferred or exchanged between dealers should be debited and/or credited as transfers to New Vehicles – Other (Account 231B).  These transactions should be recorded in the new vehicle purchase journal.

Demonstrators should be handled in compliance with respective state laws.  They should not be recorded as new vehicle sales until sold to the end user.

Note: