423-438 New Trucks

423-438 New Trucks - Retail

Sales

New Vehicle Department

Sales Synopsis

The sales of New GM Trucks sold at retail to end-users are recorded in Accounts 423 through 438.

Debits

Credits

Actual selling price of new trucks sold to retail customers

623-638 New Trucks - Retail

Cost of Sales

New Vehicle Department

Cost of Sales Synopsis

The inventory values for the New Trucks sold above are recorded in the Cost of Sales Accounts 623 through 638.

Debits

Credits

Cost of new trucks sold to retail customers

Credits received from the factory on sales to General Motors’ employees under the General Motors Employee Purchase Plan

Example 1

Record a new truck sale for the amount of $41,551 with a finance contract reserve of $1,297, sales tax of $2,078 and Registration Fees of $180. The inventory value is $40,151.

Journal: New Truck Sales

Entry:		Debit	Credit
Account 205	Contracts in Transit	$43,809
Account 262	Due from Finance Companies	$1,297
Account 623-638	Cost of Sales – New Trucks – Retail	$40,151
Account 423-438	Sales – New Trucks – Retail		$41,551
Account 237	New Trucks Inventory		$40,151
Account 324A	Sales Taxes Payable – Excise Taxes		$2,078
Account 806	Finance Income – New		$1,297
Account 910	Document Handling Fees		$180

Comments

New Truck Sales for each respective Division should be posted in the accounts as indicated in the current TB Edit file.

The selling price is credited to the Sales account and the inventory value is posted to the corresponding Cost of Sales account.

Dealer installed Accessories sold by the New Vehicle Department should be recorded in Account 457, Accessories.

Each vehicle sale should be recorded at actual selling price. Actual selling price means the selling price to the customer less discounts and overallowances.

The manufacturer will designate the account number to assign to each model of vehicles sold as indicated in the table above.

Each vehicle sale should be costed individually. The cost of a new vehicle is defined in the Asset section under Vehicle Inventories (New Vehicles).

The cost of the vehicle should be determined from the Factory Invoice or other Vehicle Inventory record. If any items have not been posted to this record, refer to underlying repair orders and invoices to determine the vehicle’s cost.

Factory price reductions, which occur after the sales of vehicles, are reductions of cost and should be credited to the appropriate vehicle cost of sales account.

Note:

New vehicles transferred to other authorized GM dealers are not sales and should not be recorded in these sales and cost of sales accounts. Sales and exchanges of new vehicles between GM dealerships should be recorded as inventory transfers, at the vehicle inventory value, through the applicable new vehicle inventory accounts.

Transactions, which are related, should be recorded in separate sub-accounts. Sub-accounts serve to keep records organized for future analysis and auditing. The sub-accounts in these examples are designated by a letter following the account number (suffix). Please refer to your DSP's instructions for establishing sub-accounts.

CHEVROLET

Cars	Sales	Cost of Sales	Trucks	Sales	Cost of Sales
	A/C	A/C		A/C	A/C
IMPALA	400A	600A	UPLANDER	423A	623A
M. CARLO	402A	602A	SSR	424A	624A
MALIBU	404A	604A	EXPRESS	425A	625A
CAMARO	405A	605A	TRAIL BLAZER	427A	627A
CORVETTE	407A	607A	COLORADO	428A	628A
AVEO	409A	609A	SILVERADO/C4500-KODIAK	429A	629A
COBALT	410A	610A	AVALANCHE	430A	630A
OTHER CHEVY CAR	417A	617A	TAHOE	431A	631A
OTHER CHEVY CAR	418A	618A	SUBURBAN	432A	632A
			EQUINOX	434A	634A
			HHR	435A	635A
			TRAVERSE	436A	636A
			MED C-T-W SERIES	437A	637A
			OTHER CHEVY TRUCK	438A	638A

PONTIAC

Cars	Sales	Cost of Sales	Trucks	Sales	Cost of Sales
	A/C	A/C		A/C	A/C
VIBE	400B	600B	MONTANA/SV6	423B	623B
GRANPRIX	404B	604B	TORRENT	425B	625B
G6	406B	606B	OTHER PONTIAC TRUCK	438B	638B
SOLSTICE	407B	607B
GTO	408B	608B
G5	409B	609B
G8	410B	610B
OTHER PONTIAC CAR	418B	618B

OLDSMOBILE

Cars	Sales	Cost of Sales	Trucks	Sales	Cost of Sales
	A/C	A/C		A/C	A/C
ALERO	400C	600C	SILHOUET	423C	623C
INTRIGUE	401C	601C	BRAVADA	427C	627C
AURORA	402C	602C	OTHER OLDS TRUCK	438C	638C
OTHER OLDS CAR	418C	618C

BUICK

Cars	Sales	Cost of Sales	Trucks	Sales	Cost of Sales
	A/C	A/C		A/C	A/C
LUCERNE	404D	604D	TERRAZA	423D	623D
LACROSSE	406D	606D	RENDEZVOUS	424D	624D
OTHER BUICK CAR	418D	618D	ENCLAVE	425D	625D
			RAINIER	427D	627D
			OTHER BUICK TRUCK	438D	638D

CADILLAC

Cars	Sales	Cost of Sales	Trucks	Sales	Cost of Sales
	A/C	A/C		A/C	A/C
DTS	401E	601E	ESCALADE EXT	430E	630E
CONVERSN	403E	603E	ESCALADE	431E	631E
STS-V	404E	604E	ESCALADE ESV	432E	632E
STS	405E	605E	OTHER CADILLAC TRUCK	438E	638E
SRX	406E	606E
CTS	408E	608E
XLR-V, XLR ROADSTER	409E	609E
OTHER CADILLAC CAR	418E	618E

GMC TRUCK

Trucks	Sales	Cost of Sales
	A/C	A/C
ACADIA	423F	623F
G-VAN (SAVANA)	425F	625F
ENVOY	427F	627F
CANYON	428F	628F
SIERRA/C4500-TOPKICK	429F	629F
YUKON-DENALI	431F	631F
YUKON XL-DENALI	432F	632F
MED C-T-W SERIES	437F	637F
OTH GMC TRKS	438F	638F

HUMMER

Trucks	Sales	Cost of Sales
	A/C	A/C
H1	423G	623G
H2	424G	624G
H2 SUT	425G	625G
H2 SUV	426G	626G
H3	427G	627G
H1 ALPHA	428G	628G
H3 T	429G	629G
OTHER HUMMER TRUCK	438G	638G

SATURN

Cars	Sales	Cost of Sales	Trucks	Sales	Cost of Sales
	A/C	A/C		A/C	A/C
ION 1 SEDAN	400H	600H	RELAY	423H	623H
ION 2 SEDAN	401H	601H	VUE 4	424H	624H
ION 3 SEDAN	402H	602H	VUE 6	425H	625H
ION 2 COUPE	403H	603H	OUTLOOK	426H	626H
ION 3 COUPE	404H	604H	OTHER SATURN TRUCK	438H	638H
L300 1 SEDAN	405H	605H
L300 2 SEDAN	406H	606H
L300 3 SEDAN	407H	607H
L300 1 WAGON	408H	608H
L300 2 WAGON	409H	609H
L300 3 WAGON	410H	610H
SKY	411H	611H
AURA	412H	612H
ASTRA	413H	613H
OTHER SATURN CAR	418H	618H

SAAB

Cars	Sales	Cost of Sales	Trucks	Sales	Cost of Sales
	A/C	A/C		A/C	A/C
9-2X 2.5i	400I	600I	9-7X 4.2i	423I	623I
9-2X AERO	401I	601I	9-7X 5.3i	424I	624I
9-3 2.0T SEDAN	403I	603I	9-7X AERO	425I	625I
9-3 2.0T SPORT COMBI	404I	604I	SAAB - OTHER TRUCK	438I	638I
9-3 AERO SEDAN	405I	605I
9-3 AERO SPORT COMBI	406I	606I
9-3 2.0T CONVERTIBLE	407I	607I
9-3 AERO CONVERTIBLE	408I	608I
9-5 2.3T SEDAN	410I	610I
9-5 2.3T WAGON	411I	611I
9-5 2.3T SPORT COMBI	412I	612I
9-5 AERO SEDAN	413I	613I
9-5 AERO SPORT COMBI	414I	614I
9-3 TURBO X SPORT SEDAN	415I	615I
9-3 TURBO X SPORT COMBI	416I	616I
SAAB - OTHER CAR	418I	618I

OTHER NON-GM

Cars	Sales	Cost of Sales	Trucks	Sales	Cost of Sales
	A/C	A/C		A/C	A/C
OTH CAR - 1	400J	600J	OTH TRK - 1	423J	623J
OTH CAR - 2	401J	601J	OTH TRK - 2	424J	624J
OTH CAR - 3	402J	602J	OTH TRK - 3	425J	625J
OTH CAR - 4	403J	603J	OTH TRK - 4	426J	626J
OTH CAR - 5	404J	604J	OTH TRK - 5	427J	627J
OTH CAR - 6	405J	605J	OTH TRK - 6	428J	628J
OTH CAR - 7	406J	606J	OTH TRK - 7	429J	629J
OTH CAR - 8	407J	607J	OTH TRK - 8	430J	630J
OTH CAR - 9	408J	608J	OTH TRK - 9	431J	631J
OTH CAR - 10	409J	609J	OTH TRK - 10	432J	632J
OTH CAR - 11	410J	610J	OTH TRK - 11	433J	633J
OTH CAR - 12	411J	611J	OTH TRK - 12	434J	636J
OTH CAR - 13	412J	612J	OTH TRK - 13	435J	635J
OTH CAR - 14	413J	613J	OTH TRK - 14	436J	634J
OTH CAR - 15	414J	616J	OTH TRK - 15	437J	637J
OTH CAR - 16	415J	615J	OTH TRK - 16	438J	638J
OTH CAR - 17	416J	616J
OTH CAR - 18	417J	617J
OTH CAR - 19	418J	618J