478 Parts – Quick Service Repair Orders

Sales

Fixed Operations

Sales Synopsis

Account 478 is established to record the sales of Parts sold on Quick Service Repair Orders recorded in Account 460C, Quick Service Labor – Cars & Light Duty Trucks and Account 461C, Quick Service Labor – Commercial, Fleet, & Medium Duty Trucks.

Debits

Credits

 

  1. The actual selling price of Parts sold on Quick Service Repair Orders

 

678 Parts – Quick Service – Repair Orders

Cost of Sales

Fixed Operations

Cost of Sales Synopsis

Account 678 is established to record the cost of sales for the Parts sold in Account 478 above.

Debits

Credits

  1. The cost of Parts sold on Quick Service mechanical Repair Orders

 

 

Example 1

Record customer cash sale of $30 for a lube, oil & filter.  The labor sale is $10.  The parts sale is $3 and the gas, oil and grease sale is $8.  The sales tax is $1 and the shop supplies are $8.  The cost of labor is $3.  The parts cost is $2.  The cost of the gas, oil and grease is $6 and the cost of shop supplies is $2.

Journal: Service Sales - Cash

Entry:

 

Debit

Credit

Account 225

Cash Sales Clearing

$30

 

Account 660C

Cost of Sales – Quick Service Labor – Cars & Light Duty Trucks

$3

 

Account 669

Cost of Sales – Shop Supplies

$2

 

Account 678

Cost of Sales – Parts – Quick Service – Repair Orders

$2

 

Account 691

Cost of Sales – Gas, Oil & Grease

$6

 

Account 244

Inventory – Gas, Oil & Grease

 

$6

Account 242

Inventory – Parts & Accessories

 

$2

Account 242

Inventory – Parts & Accessories

 

$2

Account 247A

Inventory – Work in Process – Mechanical

 

$3

Account 460C

Sales – Quick Service Labor – Cars & Light Duty Trucks

 

$10

Account 469

Sales – Shop Supplies

 

$8

Account 478

Sales – Parts – Quick Service – Repair Orders

 

$3

Account 491

Sales – Gas, Oil & Grease

 

$8

Account 324

Sales Taxes Payable

 

$1