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AUT22SS06

Challenges of Reconciling Parts and Accounting, presented by Total Dealer Solutions

Date
October 28, 2022
$49
Standard Price
This product is also available as part of the following products:
Thumbnail for 2022 AICPA & CIMA Dealership Conference
This includes sessions from the conference: 2022 AICPA & CIMA Dealership Conference

Every year dealerships perform parts physical inventories and attempt to reconcile the parts pad to accounting. While the physical is pretty straight forward, most dealerships run into difficulties when trying to reconcile the parts pad to the general ledger. If everything throughout the year flows properly between parts and accounting, the variance to accounting should be zero but that never happens. In many cases dealerships can be off by $20,000 or more in either direction with no explanation.

Learning Objectives

  • Analyze how to spot variances throughout the year rather than waiting until the next annual physical.
  • Identify what is causing overages and shortages.
  • Determine policies and procedures to implement that helps avoid vulnerability to shrinkage.

Speaker

Speaker Image for Mark Payne
Owner/CEO, Total Dealer Solutions

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