In the business I do the books for they tow in vehicles for various reasons which then the vehicles owner pays the tow bill to release it back into their custody. On some occasions the customer cannot pay their bill and in turn allows us to junk the car and hopefully at lease make our money back. Question is .... how do I record this? The bill itself needed to be "paid" for and we need to record the junk money we made for that vehicle. Then also sometimes if the vehicle is fit to be sold we would then title it accordingly and sell it ....
I'm sure this is simple and I'm lost somewhere, I've never had to do books for a company quite like this and it looks like the book keepers prior never did either, no one has ever tracked it.
