Many dealers consider accounting less important than other areas in a dealership, I think it should actually be the foremost concern for dealers, and lately, a lot of dealers are coming to this point as well. The first question we are often asked is; "Do you integrate with QuickBooks, DacEasy, Peachtree, or another accounting software?" It even gets more amusing when we are told, "My accountant wants me to use QuickBooks." We are told things such as, "I use an outside bookkeeper." If we ask what this outside bookkeeper gets from them to prepare their books, the common response is, "My bank statements." If we ask how they are capitalizing their reconditioning expenses or what automotive chart of accounts they are you using, the answer is, "I am not sure; my accountant knows." The questions I always wish to ask are; "Who owns the business - you or your accountant? If you get sued, who pays - you or your accountant? If you get audited and penalized for incorrect books, who pays? If he makes an error, who is responsible?" These questions are not aimed to blame the accountants, they are simply intended to point out to dealers that they are not aware of things that should be available for them to see. Under the Freedom of Information Act, every dealer should get a copy of the IRS Examiner Tax Audit Manual so they would know how much they can learn from the IRS. We did this and we responded by taking care of the extremely important need to manage accounting properly.
AutoDealer Plus, has automated most accounting transactions, so as you buy cars and sell them, your accounts payable and receivable are set up to adjust accordingly. As you add invoices to reconditioning, your capitalization process is automated with inventory values and expenses, whether they remain unsold as well as once they are sold. Your customer DMV fees are automatically set up to be paid and received. Your sales tax responsibilities are met and easy to follow. You can reconcile your bank accounts. You may process your payroll reports using the same individual or total net pay and net tax methods that your payroll provider uses. Your BHPH deals are calculated properly based on simple or add-on, with accurate interest postings. Complete, audit-able drilldown accounting reports, including income statements, balance sheets, and payable/receivable reports are all available with the click of a button. Every account transaction is logged so it can be audited to see who did what and when. All voided and modified transactions are logged. In short, owners and managers are in the driver’s seat. They can truly control the business’ activities and learn how to help others do business correctly, or root out bad apples, if that is the case.
Furthermore, the accounting data is also used to provide dealers with statistical reports so they know what works and what does not, such as what day of the week, color of a car, or age of a buyer is most profitable. Knowledge is power; if you drive without a rearview mirror, chances are you are headed for trouble. We provide the rearview mirror and navigation system you need to help you conduct your business with the comfort of knowing where you came from and where you are going. We don’t talk for sales, just facts.