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    ilovemyjob's Avatar
    ilovemyjob Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Sep 17, 2013, 08:15 AM
    should the garage I work for not be tracking warranty work at full value as an expens
    I have just taken over the books for a truck repair shop, we do a lot of warranty work and so far they simply do up the work order and zero out the prices. This doesn't seem to me to be the proper practice - in my minds eye it should be going to a warranty expense account. Am I out to lunch or is he really shooting himself in the financial foot by doing it the way he is?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 17, 2013, 08:49 AM
    If he is reimbursed for the warranty work by the home offi ce, then, yes, a separate account should be maintained.

    If it is his OWN warranty work, then zeroing out is okay.
    ilovemyjob's Avatar
    ilovemyjob Posts: 2, Reputation: 1
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    #3

    Sep 17, 2013, 09:39 AM
    Thank you, he is an independent shop so his current method will be maintained :)
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