Reconcile units sold on the sales log to units posted in Accounting, confirming with the Contract/Title Clerk make sure to account for all deals in Accounting, are they all posted?
Reconcile and review assigned schedules including inventory and due bill schedules. General ledger corrections to the Data management system made using a general journal voucher.
All additional adjustments for the front (sales) and back (finance) end of the deal outside of the initial sales transaction notated on the Accounting log and variance memo provided to the finance and sales department. This step is essential and helpful during month-end reconciling.
Reconcile sales vouchers against the sales commissions log or schedules.
Reconcile the accounting log to the organization’s DOC/MIS (this step depends on what the organization uses as a financial tool).
The next step depends on the organizations process on the distribution process of reconciled accounting log, providing the finance and sales team updated log with corrections and exceptions notated.
If the Accounting log is shared or automated, an email acknowledging its refreshed and ready for review is helpful
Reconcile floorplan schedules are all sold vehicles paid off per the lender and organization guidelines?
Reconcile floorplan schedules are all vehicles not sold floor planned?
Process, complete and post outstanding wholesale unit transactions.
Process, complete and post outstanding dealer trade unit transactions.
Recapping the week, schedules are clean and accounting log reconciled.