Introduction to the Nominal Ledger and Associa - Flipbook - Page 99
Part Exchange Direct Purchase Prior to Sale of Prime Vehicle:
In some instances, a customer9s part exchange may be purchased from the customer prior to the sale of the
prime vehicle. In this instance, the vehicle should be purchased as a direct purchase as shown in the previous
example. Once the purchase invoice has been printed, the vehicle can then be written down by amending the
adjusted stock value (as shown above). This will cause a debit posting into a used vehicle write down account in
profit & loss. This posting could then be journaled into a reserve account to be used to offset the profit of the
prime vehicle when it is finally sold.
9064 Used vehicle other stock
This account is as 9032 but for used vehicles.
9065/9508 Used vehicle costs in progress
This account is as 9033/9507 but for used vehicles.
Vehicle Reconciliation
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