Accounting for parked sales

Parked Sale

 

Parked sale is when a customer puts the sales process (purchase) on hold temporarily. Sales are parked without any deposit made by the customer. Parked sales are usually done when a customer wants to pick more products from shelves or when they are keen to pay cash and not having enough money on them. Parked sale has no impact on accounting as no exchange has taken place.

Sales Account – no change (no payment or deposit received)

Cost of goods sold – no change (no product was exchanged so there is no impact)

Inventory Account – no change (we still have our products in stock)

Cash Account - no change (no payment or deposit received)

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