New Shop Supplies Acount (GM Dealers)
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New Shop Supplies Acount (GM Dealers)
by warr_wiz » Wed Feb 04, 2004 11:04 am
Has anyone done anything for the new 469 account for shop supplies? We use R&R with Pontiac/GMC franchise. I changed, (succesfully I hope) the SS to show a cost and sale and post to 469. The inventory account is still 61D and that will be credited when a sale is made. (again...hopefully) Anyone have any other ideas/suggestions? Is everyone/anyone doing anything with the new 469 account? Thanks in advance.
- warr_wiz
New Shop Supplies Acount (GM Dealers)
by jazdale » Thu Feb 05, 2004 6:15 pm
WW
I believe the intent was to maintain a shop supply supply inventory, similar to parts (242) or gas,oil,grease (244).
Since it is an inventory, the CPA types prefer an inventory account over an expense account.
Many dealers that I work with, are using a near-245 account when they purchase the inventory.
The idea with 469/669 is to charge what you deem necessary to the customer in 469, and try to post (as best you can) a true cost to 669 - which ultimately relieves the near-245 inventory.
I believe the intent was to maintain a shop supply supply inventory, similar to parts (242) or gas,oil,grease (244).
Since it is an inventory, the CPA types prefer an inventory account over an expense account.
Many dealers that I work with, are using a near-245 account when they purchase the inventory.
The idea with 469/669 is to charge what you deem necessary to the customer in 469, and try to post (as best you can) a true cost to 669 - which ultimately relieves the near-245 inventory.
- jazdale
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