Accounting treatment of automobile sales company

With the continuous development and progress of economy, people's quality of life is getting better and better, and automobile consumption has become the mainstream of everyone's life. In recent years, the automobile sales industry is also developing rapidly. So what is the basic process of selling car accounting? Next, let's get to know each other!

Basic flow of automobile sales accounting

1, buy a car, and pay for it in advance.

Debit: advance payment

Loans: bank deposits

2. Receive the purchase invoice and pay the balance.

Borrow: commodity procurement

Taxes payable-VAT payable (input tax)

Loan: bank deposit or advance payment

3. Warehousing of goods

Borrow: inventory goods

Loan: commodity purchase

Step 4 sell cars

(1) Received customer advance payment

Debit: bank deposit

Loan: advance payment-vehicle advance payment.

Other payables-collection (customer inspection fee, purchase tax and insurance fee)

(2) Issuing invoices for motor vehicles

Debit: Prepayment-Vehicle Prepayment (Customer)

Loan: product sales revenue-automobile sales revenue

Taxes payable-VAT payable (output tax)

(3) Pay insurance premium and purchase tax on behalf of customers.

Debit: other payables-collection

Credit: Cash on hand

(4) Pay insurance premiums on behalf of customers.

Debit: other payables-collection

Loans: bank deposits

(5) Gift purchase tax

Debit: bank deposit

selling cost

Loan: income from main business

Taxes payable-VAT payable (output)

Debit: bank deposit

Loan: income from main business

Taxes payable-VAT payable (output tax)

5, carry forward the cost of sales

Debit: product sales cost-automobile sales cost

Loans: Goods in stock