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"I can't emphasize this enough, this is your chance to ask questions of a true expert"  - Mike Bowers 

Hour-long, Live, Online Workshops Featuring the Best Brains in the Industry!
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  1. Rob Campbell: How to Balance the Parts Department Checkbook

    Rob Campbell: How to Balance the Parts Department Checkbook

    $0.00

    MEMBERS ONLY WORKSHOP

    Presenter: Rob Campbell
    Air Date: Thursday May 31 at 1pm Eastern/ Noon Central/ 11am Mountain/ 10am Pacific
    Program Length: 60 minutes
    SKU DME5

    How to make the Parts DMS inventory Jive with the General Ledger!

    It's no secret that when it comes to the Parts Department, the dealership runs two sets of books.
    One set is kept and controlled by the Parts Manager and is geared toward inventory management… keeping the right parts on the shelves to satisfy the Service Department's needs and avoiding obsolescence. It's mostly about the physical parts themselves.
    The other set of books is kept and controlled by Accounting. The General Ledger is the financial blueprint for the enterprise, but in this instance it is primarily concerned with the dollar value of the parts department's assets and liabilities. It is mostly about the dollar value of the investment.

    Problem: On the surface they seldom agree.

    And sometimes, the imbalance can point to very real problems and potential losses. Therefore, like balancing your checkbook, you need to isolate the differences and reconcile regularly.

    This workshop is an in-depth look at strategies to help balance the 2 sets of books, and/or identify problems needing solutions.

    You will learn:
    Primary causes for inventory valuation disputes between Parts and Accounting
    Strategies for identifying and "balancing" reasonable and routine differences
    How the 2 sets of books can help hide serious problems and potential losses
    Solutions for inventory shortages and overages.
    How Parts & Accounting can work together to balance the 2 sets of books Learn More

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