Dealership Chart of Accounts Manual - Online Auto Dealer ...
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Dealership Chart of Accounts Manual
?Page Publications June, 2002, All Rights Reserved. .
This chapter should provide the NIADA dealer, office manager, internal auditor and outside accountant with an overview for Asset account numbers and descriptions.
1000 1010 1015 1020 1030 1040 1050
1100 1110 1120 1130 1140 1150 1160 1170 1360 1370
1380 1440 1450 1470 1490 1500 1520 1530 1540 1550 1570 1580 1595 1600
1610 1620 1630 1640 1660 1670
CASH AND CONTRACTS Petty Cash Fund Cash in Bank Cash in Bank - Payroll Contracts in Transit Cash Investments Undeposited Cash Clearing Cash Sales Clearing
RECEIVABLES Retail Vehicles Wholesale & Dealer Transfer Vehicles Lease & Rental Accounts Finance & Insurance Receivables - Current Customer Notes Service, Parts & Body Accounts Service Contract Claims Allowance for Doubtful Accounts Trade Receivables - Affiliates Other Receivables
INVENTORIES Demonstrators Other Automotive Used Cars Used Trucks Remarketed Vehicles Parts & Accessories Fuel, Oil & Grease Paint & Body Shop Materials Sublet Repairs Work in Process - Labor Other Inventory Allowance - Parts Inventory Adjustment LIFO Reserve - Used Vehicles LIFO Reserve - Parts & Accessories
PREPAID EXPENSES Prepaid Expenses Prepaid Taxes Prepaid Rent Prepaid Insurance Prepaid Other Other Current Assets
1 2 3 4 5 6 7
8 9 10 11 12 13 14 15 16 17
18 19 20 21 22 23 24 25 26 27 28 29 30 31
32 33 34 35 36 37
1680 1690 1700 1710 1720 1730
1750 1760 1770 1780 1790 1800 1810 1820 1830 1840 1850 1860 1870 1880 1890
1900 1910 1920 1930 1940 1950 1960 1970 1980 1990
ASSET ACCOUNTS - CONTINUED
LEASE & RENTAL VEHICLES Lease Vehicles Lease Vehicles - Accumulated Depreciation Rental Vehicles Rental Vehicles - Accumulated Depreciation Driver Training Vehicles Driver Training Vehicles - Accumulated Depreciation
FIXED ASSETS Land & Improvements Land & Improvements - Accumulated Depreciation Building & Improvements Building & Improvements - Accumulated Depreciation. Machinery & Shop Equipment Machinery & Shop Equipment - Accumulated Depreciation Parts & Accessories Equipment Parts & Accessories Equipment - Accumulated Depreciation Furniture, Fixtures & Signs Furniture, Fixtures & Signs - Accumulated Depreciation Company Vehicles Company Vehicles - Accumulated Depreciation Leaseholds & Improvements Leaseholds & Improvements - Accumulated Depreciation Other Fixed Assets
OTHER ASSETS Life Insurance - Cash Value Notes & Accounts Receivable - Officers & Owners Investments in Affiliated Companies Advances - Affiliated Parties Advances - Other Parties Notes & Accounts Receivable - Other Finance Receivables - Deferred Other Investments & Miscellaneous Assets Deposits on Contracts Other Assets
38 39 40 41 42 43
44 45 46 47 48 49 50 51 52 53 54 55 56 57 58
59 60 61 62 63 64 65 66 67 68
CONTINUE TO THE NEXT PAGE.
1000 PETTY CASH FUND
CASH AND CONTRACTS
ACCOUNT DESCRIPTION This cash account is used to record dealership cash on hand in a small permanent imprest fund to be used for minor expenditures and for change.
TYPICAL TRANSACTIONS Account #
Example 1. Check issued to establish or increase petty cash fund. Entry posted in cash disbursements journal.
Petty Cash Cash in Bank ? General
Example 2. Check issued to reimburse petty cash fund for stamps, miscellaneous shop supplies, and small freight charges. Entry posted in cash disbursements journal.
Office Supplies Tools & Supplies Freight ? Parts Cash In Bank ? General
Credit X X
ACCOUNT COMMENTS Each petty cash payment should be supported with a petty cash voucher written in ink, signed by the recipient and signed off on by a manager. Suppliers' invoices should be attached to the petty cash voucher and stamped paid or otherwise canceled to prevent duplicate payment. The sum of all petty cash vouchers on hand and the cash on hand should always equal to the recorded balance in the account. The petty cash fund should be reimbursed periodically and at the end of the month by issuing a check to the person in charge of the fund. A petty cash summary listing the paid vouchers should be prepared to support the reimbursement. All vouchers and invoices should be cancelled to prevent possible future misuse. Payroll or payroll advances should not be given out of petty cash.
NIADA Dealership Chart of Accounts Manual
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