Introduction to the Nominal Ledger and Associa - Flipbook - Page 95
If there is a difference between the value in the nominal ledger and the value on the vehicle record, the
reconciliation report will show a figure in the variance column and if there is an * in the description in the nominal
expense code, the reconciliation will advise on the stock numbers that are causing the variance.
Taking a standard chart of accounts – these are the accounts that should appear on the reconciliation and an
explanation of the balances they should represent.
9020 New fully paid stock
The balance in this account should represent all new vehicles at account status A.
9021 Consignment stock account
The balance in this account should represent all new vehicles at account status C. Not all franchises use
consignment stock.
Vehicle Reconciliation
Page 95 of 152
