tire price match

[daliydriver]

When you guys get the money back where are you applying it? 243 or 687 I say 243 so that my GP% comes back but the front end said it's 687.

[DMSOUTH]

not 243--that's an inventory account. if you want your gp% correct, direct it to 690.....

[possum]

Some folks drop the price, some expense out the discount. If you drop your selling price, credit back your SALE acct, not cost.

We use it a lot and settled on this: Acctg set up a misc. code in service to show the discount on the RO. It automatically debits 65D+F. When the claim settlement invoice comes I credit back to 65D+F.

[always-learning]

I credit back 490. I leave the cost of the tire alone and sell at a loss on the RO but when the money comes back in on the open account that money would go to offset the loss on the financial statement.

If you adjust the cost than adjust 690.

I have seen other dealers use a special coupon code to give the price match and would then code the GM invoice with the credit to offset that coupon account. It acts a receivable this way and the controller can better monitor what money may still be out there to be collected but I've never had any price matches take longer than 2 days to process.

[PartsPlant81]

I credit it to 690. Get the profit back on the back end...