Use 242 or 244 At Your Discretion

[jdpetey]

Why in the hell does the GM operating report still need to include a separate account for ‘Gas, Grease and Oil'? Was this instituted during the 'Oil Crisis' in the 70's?

We have had discrepancies in our 244 account for who knows how long. I've spent hours/days looking for the cause to no avail.

Just noticed that there are inconsistencies on GM invoices FOR THE SAME PART NUMBER. One time the dollar value is recorded to 244 and the next 242. As far as I'm concerned, any number on the ’Semi- Annual’ Oil pricing update should be in 244. So that’s how I have sourced those numbers.

I try to streamline processes as much as possible to ‘automate’ things. I don’t want to have to constantly instruct the office manager to move numbers/dollars.

Maybe some of you have been more in tune with this. I/we have not been quite aware of the inconsistencies.

One has to wonder if the proper discounts and reserves were applied if the oil numbers were entered directly into 242.

Review your own invoices and see if you see discrepancies. I inquired with one of our other stores and the manager noticed the same thing.

I don’t know if this has been happening ‘forever’ or just a recent development.

I have an open SR with invoicing and it appears someone else has inquired as well.

[smoyer]

Why in the hell does the GM operating report still need to include a separate account for ‘Gas, Grease and Oil'? Was this instituted during the 'Oil Crisis' in the 70's?

We have had discrepancies in our 244 account for who knows how long. I've spent hours/days looking for the cause to no avail.

Just noticed that there are inconsistencies on GM invoices FOR THE SAME PART NUMBER. One time the dollar value is recorded to 244 and the next 242. As far as I'm concerned, any number on the ’Semi- Annual’ Oil pricing update should be in 244. So that’s how I have sourced those numbers.

I try to streamline processes as much as possible to ‘automate’ things. I don’t want to have to constantly instruct the office manager to move numbers/dollars.

Maybe some of you have been more in tune with this. I/we have not been quite aware of the inconsistencies.

One has to wonder if the proper discounts and reserves were applied if the oil numbers were entered directly into 242.

Review your own invoices and see if you see discrepancies. I inquired with one of our other stores and the manager noticed the same thing.

Noticed it about a month ago sometimes they put the oil in 244 and sometimes they just lump it into 242 you just have to be careful and look at the total page

I don’t know if this has been happening ‘forever’ or just a recent development.

I have an open SR with invoicing and it appears someone else has inquired as well.

[LOKI1]

We use 244 for our oil account. It is always off, a moving target but it works out in the end.

[TheEd]

I inflated the cost of the oils in 244 by a nickel, also starting from the pre-discount cost of the oil. Like the plot of Superman 3, it pays off for us when we reconcile with accounting at the end of the month and usually end up with a small profit.

[PartsPlant81]

Always a nightmare here as well but I get it as close to perfect as it can be come physical inventory time.

[bentwrench54]

A moving target here as well.

I don't worry about it. It is what it is.

[bsnyder723]

I use 244 for bulk oil and trans fluid... I use 242 for anything in bottles... That's just the way I do it here

[retiredpm]

I use 244 for bulk oil and trans fluid... I use 242 for anything in bottles... That's just the way I do it here

That is the way I did it. Charge the bottles to the RO as parts and the bulk as GOG.

[DHEGG]

I use accounts 491 (cost of oil) and 691 (sale of oil) for my bulk oil. My bulk oil in my DMS does has 0 cost, when I sell bulk oil on an RO or invoice the sale amount goes to account 691, when I purchase bulk oil the cost is posted to account 491. At the end of the month financials show my sale amount that posted to 691 from all RO's and invoices are for example $10,000 and show my purchases posted to account 491 at $8,000. difference at the end of the month is a $2,000 profit. we do not inventory Bulk oil. sale minus purchases for the month equal your profit plain and simple and 100% accurate everytime