Usage
– All cash received (i.e. cash, check and or credit cards) in a given
business day. Note: Credit cards may be placed into a different account
for simplified reconciliation.
Accounts 10000-19999 - Assets
Normal Balance is a Debit except for Accumulated Depreciation Accounts
Debit Increases
Credit Decreases
10000 – Cash On Hand
Usage
– All cash received (i.e. cash, check and or credit cards) in a given
business day. Note: Credit cards may be placed into a different account
for simplified reconciliation.
Monies need to be moved daily from this account to the 10200.
10100 – Clearing Account
Usage
– Use by Dealer wishing
to segregate special cash. It
should have a zero balance at month end.
10200 - Cash In Bank
Usage
– Daily Deposits. Monies moved from 10000, contract monies, record NSF
checks, record bank service charges. A listing of this account should
look like you bank account.
10300 – Cash Sales Clearing
Usage
– Can be used to record equipment and rental revenue. This account must
also have monies moved to the 10200. Should have a zero balance at the
end of the month.
10400 – Petty Cash and Change Fund
Usage
– Used to pay small bills such as stamps, COD charges, small freight bills.
Issue a check to put money in the fund, do a GJ and DR 10400 and CR 10200.
10700 – Contracts in Transit
Usage
– This is the amount due from manufactures and or finance companies for
customer’s equipment. Any balances left at the end of the month should
be identifiable as being the total of certain contracts. When monies are
received do a GJ and CR 10700 and DR cash.
10900 – Securities
Usage
- Certificates of Deposit, savings accounts, interest earned on such.
11000 – Notes Receivable
Usage
– Face Value of notes received from customers. Use of this account should
be kept at a minimum.
11100 – Accounts Receivable – Parts & Service
Usage
– This tracks all parts and service sales made to customers with open
accounts. Your AR aged register should equal the balance in your 11100
general ledger account. This should be reconciled monthly.
11200 – Accounts Receivable – Equipment
Usages
– this tracks all sales of equipment made to customers with open accounts.
Your aged register should equal the balance in your 11200 general ledger
account. This should be reconciled monthly.
11300 – Accounts Receivable – Rentals
Usage
– This tracks all rental equipment revenue made to customers with open
accounts. Your aged register should equal the balance in your 11300 general
ledger account. This should be reconciled monthly.
11600 – Accounts Receivable – Warranty and Suppliers
Usage
– This tracks all service labor and parts under warranty to a supplier.
Your suppliers will be customer accounts in your accounts receivable module.
Your aged register should equal the balance in your 11400 general ledger
account. This should be reconciled monthly.
11700 – Sales Planning and or Volume Discounting
Usage
– If a New Holland dealer is the amount received annually from CIH in
payment of volume
discount earned.
11900 - Allowance for Doubtful Receivables
Usage
– This is an adjustment for bad debts. It is normally equal to 50% of
all amounts over 90 days past due. This journal entry would be a CR 11900
and a debit to 55300.
12000 – 12200 New Equipment
Usage
– These accounts are used to track the invoice costs of all new equipment
in your major lines. Includes base unit and attachments and inbound freight
charges. Reconciliation
should be made with the equipment inventory GL reports and should balance.
If a New Holland Dealer:
12000
- New NH AG Tractors & Equip
12100
- New NH Construction
12200
– New Non NH AG Tractors & Equip
12300 – 12400 New Other Equipment
Usage
– Total invoices costs of all other small lines. Includes base unit and
attachments and inbound freight charges. Reconciliation should be made
with the equipment inventory GL reports and should balance. If a New Holland
Dealer:
12300
- New Non NH Construction
12400
– New Non NH Other
12500 – Used Equipment
Usage
– The trade-in allowance or as-is value. Additional reconditioning cost
at retail should be included. Reconciliation should be made with the equipment
inventory GL reports and should balance.
12600 – Reserve Inventory Adjustment
Usage
– Adjustment account for decline in value.
12700 – Other Non Industry Related
Usage
– Total costs for such things as any other miscellaneous inventories less
any discounts.
12900 – Rental Equipment
Usage
– Cost of equipment placed in rental and or lease service. Should include
equipment, parts and accessories installed on rental units, major repairs
and monthly reduction in inventory value for units out on rental.
13200 – Parts and Accessories
Usage
– Invoice price of all parts and accessories purchased before the deduction
of cash discounts. Should balance with the $ value reports in Parts Inventory.
No direct interface between the parts module and the general ledger. Journal entries need to be
made for receipting and returning of parts, quantity adjustments, installation
of price books, part number changes. Automatic updating done through counter
and service ticketing. Special order non-stock parts require careful handling.
13400 – Tires and Tubes
Optional
Usage –
Invoice price of tires and tubes purchased before the deduction of cash
discounts.
13500 – Oil and Gas
Optional
Usage –
Invoice price of oil and gas purchased before the deduction of cash discounts.
13600 – Parts Reserve Adjustments
Usage
– This account is utilized when a physical inventory discloses the fact
that there is an increase in slow moving parts. DR
to account 13600 and a CR to account 43600.
13700 – Labor in Process
Usage
– Accrued service salaries unpaid at the end of the month. Within the
service module is a work in process posting. When taken, no AR posting
is done. Posting to 13700 is done for the asset posting in place of the
10000/10200 or 11100 postings. Note: Transactions
on the invoice will be untouchable after this option is taken. If changes
are to be made to the transaction then they will need to be backed out
with a negative quantity. Once the invoice that posted to 13700 is closed,
it will only post new transactions and move the amounts from 13700 to
the correct asset account. This may be done manually.
13900 – Sublet Repairs
Usage
– Cost of sublet repairs purchased. The cost of sublet repairs is done
through the entering of an AP invoice CR 24000 and DR 13900. If you were
reducing balance in inventory due to incomplete repair orders (Similar
to 13700) you would CR 13900 and DR 43900.
14100 – Prepaid Taxes and Licenses
Usage
– Any taxes, state and local beyond the current period.
14200 – Prepaid Insurance
Usage
– Premiums paid on insurance that provides coverage beyond the current
month. Additionally advance deposits such as workmen’s compensation, garage
liability etc.
14300 – Prepaid Rent & Lease
Usage
– Advance Payments of rent or lease that will benefit future periods.
14400 – Prepaid Interest
Usage
– Prepaid interest charges or paid on a liability beyond the current month.
14900 – Other Prepaid Expenses
Usage
– This too, is a future. Items purchased for future use such as gasoline,
repair order forms etc.
15000 – Land
Usage
– Cost of Land acquired for the business. Cash down payment, legal fees,
paving for adjoining street. If the land is sold the cost should be CR
to his account and gain or loss should be debited to 52500.
15200 – Buildings
Usage
– Cost of building purchased or built for the operation of the business.
Architect, engineering fees, excavation, foundations, plumbing, etc for
the building. Cost of permanent improvements to the existing structure
i.e. air conditioning etc. Record the information in the following manner:
Date, description, acquired from, and cost.
15300 – Accumulated Depreciation – Buildings
Usage
– Monthly entry to record depreciation of buildings. CR 15300, DR 66900.
15400 – Shop Tools & Equipment
Usage
– The cost of shop equipment purchased including freight, sales tax and
installation cost.
15500 – Accumulated Depreciation – Shop Tools
Usage
– Monthly entry to record depreciation of shop tools and equipment.
15600 – Furniture & Fixtures
Usage
– Cost of furniture and fixtures, fans, office equipment and parts room
equipment including sales tax. When items included in this account are
sol the cost should be credited to this account.
15700 – Accumulated Depreciation – Furniture & Fixtures
Usage
– Monthly entry to record depreciation of furniture and fixtures.
15800 – Vehicles Cars,Trucks,Trailers
Usage
– Cost of new and used cars, trucks and trailers used in the business.
15900 – Accumulated Depreciation – Vehicles Cars,Trucks,Trailers
Usage
– Monthly entry to record depreciation of cars trucks and trailers.
16000 – Leasehold Improvements
Usage
- Cost of improvements to leased or rented property. Criteria for leasehold
improvements are that they cannot be removed from the property and the
improvements usually become the property of the lessor.
16100 – Accumulated Amortization – Leasehold
Usage
- Amount of the cost of leasehold improvements to be amortized monthly.
16500 – Computer Equipment
Usage
- Cost of new and used computer equipment used in the business.
16600 – Less accumulated depreciation
Usage
- Monthly entry to record depreciation of computer equipment.
17000 – Finance Reverse/Holdbacks
Usage
– Amount of holdbacks retained by finance companies or banks. Finance
reserve interest in finance contracts sold. This account gets reduced
upon receipt from finance company of a re-possession.
17100 - Prov for Doubtful Receivables
Reserves
held by financial companies against future repossessions. This
account works with 17000. DR
17000 and CR 17100.
17400 – Due from Officer/Employee
Usage
– Cash advances made to either officers or employees
Write the check and record it through Cash disbursements DR 17400.
17500 – Other
Usage
– Miscellaneous assets owned by the business not covered by other asset
accounts. Utility meter deposits, bid deposits etc.
17600 – Organization Expense
Usage
– Cost of legal and professional services connected with the creation
of the business. For New Holland Dealers this account has been eliminated.
22000 – 22200 – New Equipment (Notes Payable)
Usage
- Usage – These accounts are used to track the floor-plan amounts of all
new equipment in your major lines. Reconciliation
should be made with the equipment inventory GL reports and should balance. If a New Holland Dealer:
22000
- New NH AG Tractors & Equip
22100
- New NH Construction
22200
– New Non NH AG Tractors & Equip
22300 – 22400 New Other Equipment (Notes Payable)
Usage
– Tracking of the floor plan for all other small lines. Reconciliation
should be made with the equipment inventory GL reports and should balance.
If a New Holland Dealer:
22300
- New Non NH Construction
22400
– New Non NH Other
22500 – Used Equipment (Notes Payable)
Usage
– Tracking of the floor plan amounts on used equipment. Reconciliation
should be made with the equipment inventory GL reports and should balance.
22700 – Other Non Industry related (Notes Payable)
Usage
– Tracking of floor plan amount on any other equipment. Reconciliation
should be made with the equipment inventory GL reports and should balance.
22900 – Rental Equipment (Notes Payable)
Usage
– Transfer of liability back to floor plan when rental equipment is returned.
Normal journal entry to CR 22900 and DR 22000, then make the payments
CR 10200 DR 22900.
23800 – Banks (Notes Payable)
Usage
– Any note not secured by fixed assets such as a 6-month note from bank
to sustain cash.
23900 – Other (Notes Payable)
Usage
– Loans received that are considered short term.
24000 – General and Local Vendor Payables
Usage
– To track the gross amount of vendors’ invoices paid and credit memos
received from vendors. This account should balance with the Accounts Payable
aged register at the end of the month. To record the credit memo enter
a credit invoice through enter invoices in the Accounts Payable module.
24100 – Main mfg line cash/parts account
Usage
– To track the gross amount of vendors’ parts invoices paid and credit
memos received from vendors. This account should balance with the Accounts
Payable aged register at the end of the month. To record the credit memo
enter a credit invoice through enter invoices in the Accounts Payable
module.
24200 – Non main mfg line cash/parts account
Usage
– To track the gross amount of vendors’ parts invoices paid and credit
memos received from vendors. This account should balance with the Accounts
Payable aged register at the end of the month. To record the credit memo
enter a credit invoice through enter invoices in the Accounts Payable
module.
24300 – Dividends Payable
Usage
– Declaration of dividends by the Board of Directors.
24400 – Customer Deposits
Usage
– Cash deposits received from customers on order for future delivery of
new equipment. Deposits should be entered through Over the Counter Invoicing,
so a receipt for the customer is generated.
26000 – Accrued Payroll
Usage
– Salaries, commissions, incentives and wages of employees and offices.
Includes Salesman’s draw account.
26100 – Bonus – Employees
Usage
– recording of employee’s bonuses (if applicable).
26200 – Bonus – Owner or Operator
Usage
– Recording of operator or owner’s bonus and or unpaid operator or owner’s
bonus for the prior year.
26300 – Social Security Taxes (Accrued)
Usage
– Social security taxes deducted from employee’s earnings. This account
also records the monthly accrual for the employer’s share of the social
security tax. This should be recording as a journal entry CR 26300 and
DR 65600. Payments made of the accrued social security tax come out of
this account.
26400 – Withholding Taxes – Federal (Accrued)
Usage
– Federal income tax withheld from employees’ earnings.
Payment to federal taxes and made to the local bank.
26500 - Withholding Taxes – State (Accrued)
Usage
– State income tax withheld from employees’ earnings.
Payment made to State government agency.
26600 – Withholding Taxes – City (Accrued)
Usage
– City income tax withheld from employees; earnings. Payment
made to City government agency.
26700 – Unemployment Tax Federal (Accrued)
Usage
- FUTA tax imposed on the business. Payment is made to the local bank.
26800 – Unemployment Tax State (Accrued)
Usage
– State unemployment tax imposed on the business. There are several states
where the employer and the employee share the cost of this tax. Payment
made to State government agency.
26900 – Other (Accrued)
Usage
– open ended for other taxing agencies.
27000 – Sales and Use Tax Payable (Accrued)
Usage
– Collection of sales tax on equipment and parts. Payment is to be made
to the appropriate agency. Sub ledger reports:
AR – Counter ticket analysis
SV – Work Order analysis
EI – Equipment Sales analysis
27100 – Property/Other Tax (Accrued)
Usage
– Real and or property taxes, not payroll taxes. Taxes on the building,
inventories and equipment.
27200 – Fed & St Inc Tax – Current Year (Accrued)
Usage
– Estimated federal, state and local income taxes. This is used for corporations
only.
27300 – Fed & St Inc Tax – Prior Year (Accrued)
Usage
– Prior year federal, state and local income taxes payable for prior years.
27400 – Insurance Payable (Accrued)
Usage
– All insurance premiums such as worker’s compensation, for a future time
period.
27500 – Interest Payable (Accrued)
Usage
– Accrual of interest on money borrowed.
27600 – Miscellaneous
Usage
– Auditing and tax services.
28000 - Mortgages – Real Estate
Usage
– Land and building purchased with a mortgage.
28100 – Mortgages – Equipment
Usage
– Loans or chattel mortgages with repayments of more than a 12-month period.
Example: pickup truck purchase for salesman to drive.
28200 – Other
Usage
– Sales planning discounts or notes payable to manufacturer.
28300 – Long Term Notes
Usage
– Payments made to funding sources on principal balance.
29000 – Cap Stock – Pref/Investment
Usage
– Original investment in cash by sold proprietor or partners. To record
issuance of preferred stock for cash. To record preferred stock converted
to common stock.
Record the original investment by DR 10000 and CR 29000.
Converting preferred stock to common is done by DR 29000 and CR 29100.
29100 – Capital Stock – Common
Usage
– Par Value of common stock issued and outstanding.
29200 – Retained Earnings
Usage
– Net loss for the current year. DO NOT post to this account. This is
a calculated figure and is done when the
new fiscal year is started.
29300 – Restricted Retained Earnings
Usage
– Buy down of the Note Payable through the annual profit distribution
and a check is written DR 29200 and CR 29300 and DB 283 and CR 10200
29400 – Contributed Capital
Usage
– Amounts contributed by owners to restore net worth to par value. Or
the amounts paid in excess
of par value. If in excess DR 10000 and CR 29000 and 29400
29500 – Dividends or withdrawals
Usage
– Dividends declared by the Board of directors. Example: DR
29500 and CR 24300.
29600 – Provision for Bonus
Usage
– Estimated monthly provision for operator or owner’s bonus based on year
to date net profit.
29700 – Profit or Loss Curr Year
Usage
– This is a calculated figure and nothing should be posted to this account.
Its calculation is based on taking CR sales in 300 levels
DR cost in the 400 levels
DR expenses in the 600 levels
Plus Non operating Income 500
+/- in the 550
29800 – Fed & State Inc Tax – Curr Year
Usage
– Provision for federal, state and local income taxes for the current
year. This account is to be used as an offset to account 27200.
Accounts 30000-39999 - Sales
Normal Balance is a Credit
Debit Decrease
Credit Increases
32000 – 32200 – New Equipment
Usage
– Net amount of sale to retail customers for equipment.
Normally this recorded across your largest manufacturers.
Normally
has corresponding cost of sale accounts 42000-42200. If a New Holland
Dealer:
32000
- New NH AG Tractors & Equip
32100
- New NH Construction
32200
– New Non NH AG Tractors & Equip
32300 – 32400 New Other Equipment
Usage
– Net amount of sale to retail customers for other equipment. Normally
has corresponding cost of sale account 42300. If
a New Holland Dealer:
32300
- New Non NH Construction
32400
– New Non NH Other
32500 – Used Equipment
Usage
– Total inventory value of used equipment sold to customers. Normally
has corresponding cost of sale account 42500.
32700 – Other Equipment Non Industry related Products
Usage
– Used for twines and wire. Normally has corresponding cost of sale account
42700.
32800 – Rental Equipment Revenue
Usage
– Rental fee charged to the customer. Normally has corresponding cost
of sale account 42800.
32900 – Rental Equipment Sales
Usage
– Rental Unit converted to a sale. Normally has corresponding cost of
sale account 42900.
33000 – Parts – Wholesale
Usage
– Parts sold to wholesale customers. Normally has corresponding cost of
sale account 43000.
33100 – Parts – Internal
Usage
– Parts sold internally for used equipment reconditioning. Normally has
corresponding cost of sale account 43100.
33200 – Parts – Counter Retail
Usage
– Parts sold over the counter to retail customers. Normally has corresponding
cost of sale account 43200.
33300 – Parts – Shop Retail
Usage
– Parts sold on customer repair orders. Normally has corresponding cost
of sale account 43300.
33400 – (Optional) Tires & Tubes
Usage
– Tires and Tubes sold on customer repair orders. Normally has corresponding
cost of sale account 43400.
33500 – (Optional) Oil & Grease
Usage
– Oil and grease sold on customer repair orders. Normally has corresponding
cost of sale account 43500.
33700 – Service Labor – Customer
Usage
– Cost of all labor sold to customers on repair orders. Normally has corresponding
cost of sale account 43700.
33800 – Service Labor – Internal/Warranty
Usage
– Service labor performed on the business’ inventories and warranties.
Items such as the setup of equipment, and the reconditioning of used equipment.
Normally has corresponding cost of sale account 43800..
33900 – Sublet Repairs
Usage
– Repair work, both parts and labor performed by outside shop. Normally
has corresponding cost of sale account 43900.
34000 – Machine Charges
Usage
– Revenue generated by charges for use of special shop equipment. Can
be used for mileage as well. Normally has corresponding cost of sale account
44000.
Usage
– Total Inventory Value of New Equipment in the major lines.
. If
a New Holland Dealer:
42000
- New NH AG Tractors & Equip
42100
- New NH Construction
42200
– New Non NH AG Tractors & Equip
Usage
– Total Inventory value of other new equipment in your short lines.
. If a New Holland Dealer:
42300
- New Non NH Construction
42400
– New Non NH Other
42500 – Used Equipment
Usage
– Total inventory value of used equipment sold to customers.
42600 – Used Inventory Adjustment
Usage
– To Record the decline in used equipment value
42700 – Other Products
Usage
– Inventory value of twine, wires and or other products.
42800 – Rental Equipment Revenue
Usage
– To record the reduction in inventory value with a minimum of 80% costing
being recorded.
42900 – Rental Equipment Sales
Usage
– The remaining inventory value of a rental unit that had been converted
to sell.
43000 – Parts Wholesale
Usage
– Value of parts and or accessories sold to whole customers or process
on warranty repair orders.
43100 – Parts –Internal
Usage
– Value of parts and or accessories sold internally to the business other
than those used on new equipment.
43200 – Parts – Counter Retail
Usage
– Value of parts and or accessories sold through over the counter to retail
customers.
43300 - Parts – Shop Retail
Usage
– Value of parts and or accessories sold through the businesses’ shop.
43400 – (Optional) Tires & Tubes
Usage
– Value of tires and tubes sold.
43500 – (Optional) Oil & Gas
Usage
– Value of oil and gas.
43600 – Parts Inventory Adjustments
Usage
– The adjustment account to adjust the general ledger to make it agree
with the physical parts inventory.
43700 – Service Labor – Customer
Usage
– Cost of all labor sold to customers on repair orders.
43800 – Service Labor – Internal/Warranty
Usage
– Cost of all labor performed on the business inventories, preparation
work, and employee’s compensation and labor performed on warranty repair.
43900 – Sublet Repairs
Usage – Actual cost of repair work performed by an outside shop. This includes both parts and labor.
44000 – Machine and Mileage Sales
Usage
– Cost of fuel and repairs to
delivery vehicles, and amortization of licenses and fees on shop and delivery
vehicles.
50000 – Discounts Earned
Usage
– Cash discounts charged back the business due to a parts return.
50100 – Other Dealer Rewards
Usage
- Income from a 1099 source
such as a “free” trip or non cash income.
50200 – Volume Discount Income
Usage
– Volume discounts offered by vendors.
50500 – Other Income
Usage
– Other income from vending machines, profit or loss in the transfer of
equipment, scrap sales.
52100 - Interest Earned
Usage
– Interest earned from securities.
52200 – Finance Income
Usage
– Interest earned on finance charges.
52500 – Gain-Loss on Fixed Assets
Usage
– The gain or loss on the sale of a fixed asset such as land, buildings,
shop equipment, furniture, fixtures, cars, trucks or trailers.
55000 – Discounts Allowed
Usage
– Cash discounts allowed customers for either prompt payment or cash sales
of parts and accessories.
55100 – Accounts Receivable Reserve
Usage
- Allowance for doubtful receivables has to be increased to equal 50 percent
of the total of all outstanding accounts receivables 90 days past due.
If increase DR 55100 and CR 11900. If
decrease DR 11900 and CR 55100.
55200 – Repossession Loss
Usage
– Estimated loss as a result of purchasing a repossessed item.
55300 – Decline in Inventory Values
Usage
– If there is a difference between the market value and the replacement
value. DR 55300 and CR 13200.
55500 – Other Deductions
Usage
– Expenses not ordinary to the business such as cash over and short. Losses
not covered by insurance.
64000 – Advertising
Usage
– All advertising costs such as newspapers, direct mail, telephone directory,
television etc.
64100 – Sales Promotion & Demo
Usage
– expense of community displays, fairs and shows. Open house and giveaways.
64200 – Policy & Warranty – New
Usage
– Difference between the businesses warranty repair costs and the amount
recovered from the supplier.
64000 – Policy & Warranty – Used
Usage
– 50/50 warranty agreement with customer on used equipment.
64400 – Service Shop Warranty
Usage
– Service labor comebacks not covered under warranty. (You made an error).
65000 – Compensation – Salesman “Sales or Salesperson”
Usage
– All payments to sales personnel including salary, wages, draws, commissions,
incentives, holiday and vacation pay.
65100 – Compensation – Owner/manager
Usage
– All payments to the owner/manager including holiday and vacation pay.
65200 – Compensation – Office
Usage
– Salaries, wages and incentives paid to all office personnel including
holiday, vacation and overtime pay.
65300 – Compensation – Parts People
Usage
– Salaries, wages, overtime, commissions, and incentives paid to parts
department employees including vacation and holiday pay.
65400 – Compensation – Shop Administration/Other
Usage
– Salaries, wages and incentives paid to trainees or similar types of
employees including vacation and holiday pay.
65600 – Payroll Taxes
Usage
– Employer’s share of social security, federal and state unemployment
taxes.
65700 – Employee Benefits – Other
Usage
– Employee related expenses other than payroll taxes such as life or health
insurance. Retirement benefits, workers compensation, uniforms and laundry
company picnic or Christmas party, contributions and or gifts for employees.
65800 – Freight
Usage
– All freight and service/handling charges on parts, twine and accessories.
66000 – Tools and Shop Supplies
Usage
– Cost of small or perishable tools, shop supplies including sales tax
paid on such items. Examples: Wiping
rags, grease and oil for shop, floor dry, small tools.
66400 – Rent and Lease Expense
Usage
– Rent for lease of business facilities.
66500 – Taxes – Real Estate
Usage
– Taxes on land and buildings used in the business such as city, county,
school district and state taxes.
66600 – Insurance Real Estate
Usage
– Insurance on real estate for fire, tornado, wind and pollution damage.
66700 – Repair/Maint – Real Estate
Usage
– Repairs to building, janitorial services, minor real estate improvements,
building maintenance supplies.
66800 – Interest – Real Estate
Usage
– Interest expense on real estate.
66900 – Depreciation – Real Estate
Usage
– Monthly depreciation on buildings, improvements, and building fixtures.
67000 – Amort-Leashold Improvement
Usage
– Monthly amortization on leasehold improvements.
67100 – Telephone
Usage
– Local and long distance telephone, fax machine, pages, and answering
service charges.
67200 – Utilities
Usage
– Expenses incurred for electricity, gas, water, sewer, garbage service
and purchase of fuel oil or coal.
67300 – Depreciation
Usage
– Monthly depreciation of the businesses fixed assets in accounts 15400,
15600 and 15800. Things such as shop equipment, furniture and fixtures,
car, trucks and trailers.
67400 – Repair to Equipment
Usage
– Repairs and maintenance on shop tools and equipment, furniture and fixtures.
67500 – Vehicle Expense
Usage
– Operating cost of all licensed vehicles not used for pick-up, delivery,
or service includes gasoline, oil and grease, tire repairs and washing.
67600 – Insurance
Usage
– Insurance expenses other than real estate. Items such as inventories
and equipment, bond on employees, business interruption, burglary, insurance
on rental equipment, fire and theft.
68000 – Interest – Floor Plan
Usage
– Interest on floor planned equipment other than rental.
68100 – Interest – Other
Usage
– All interest expense except interest on floor plan or interest real
estate mortgages. Interest on items such as bank loans, mortgages on fixed
assets, other long term notes.
68200 – Training
Usage
– Travel to and from training meetings. Lodging for training functions.
Gasoline to and from training meetings.
68300 – Taxes/License – Exc Payroll
Usage
– Tax on inventories, equipment, franchise and business taxes, vehicle
licenses and gross receipts tax.
68400 – Office Supplies & Postage
Usage
– Expenses incurred including freight and sales tax for all office forms,
invoices, stationary, accounting supplies, small office equipment and
postage.
68500 – Travel & Entertainment
Usage
– Travel and entertainment expenses incurred by employees during the normal
course of business and submitted on an expense report.
68600 – Auditing/Legal/Professional
Usage
– Expenses incurred for auditing, tax and collection services.
68700 – Bank and Credit Card Charges
Usage
- Credit card service charges and fees, including Farm Plan, CNH, Mastercard
and Visa as well as bank service charges.
68800 – Bad Debts
Usage
– Write-off of uncollectable accounts receivable. CR 11100 and DR 68700.
68900 – Dues & Subscriptions/Contrib
Usage
– Subscriptions to trade publications pertinent to your business and contributions.
69000 – Data Processing /Business System / Computer
Usage
– Installation of computerized services. Monthly fee for computerized
services. Required supplies or forms used in connection with computerized
services.
69900 – Miscellaneous
Usage
– Expenses incurred for the dealership for miscellaneous items.
Other Example accounts:
68710 – Battery Fee
Usage
– Collection of fees paid to the state for battery sales.