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Discuss solutions for dealers getting into BHPH or thinking about it.
Location: Crystal Lake, ILL
Latest Activity: Aug 10
Started by Dominic McWhorter Aug 23, 2012.
Started by Rob Hagen. Last reply by Frank Dec 8, 2011.
Started by Mike "BK" Anthony. Last reply by Brad Sutterfield Apr 29, 2011.
To take it further, Autostar has its own accounting module but also has a quickbooks download that's automated.
Last Sept they introduced the ability to preset future dates, times and frequency of report generation and when the time hits, the pdfs are emailed to the company and the CPA. In other words today I can preset Autostar to run the 10 or 12 reports I want monthly for the rfc or the dealership and at 12:30 am on the first day of every month my client and I see them in our email inboxes. It can be done daily, weekly, whatever. Since most reports from any database software are only accurate if run current day, it's a huge leg up and timesaver. And they throw great software conventions--right Gene?
I have a client in MT who is looking for a new computer system. Are there any out there that you can recommend that will handle the BHPH plus intergrate with (or have its own) dealership accounting software?
He is in Montana. I will be passing this information on to him and let him know you would be interested in helping. I will keep you posted.
Tax time is coming. To the extent I'm not stepping on Gene's toes, I'd be glad to help in some fashion.
Is he in Montana or elsewhere?
I consult with auto dealers, both franchised and independent, BHPH dealers, RV dealers, marine dealers, motorsports dealers and motorcycle dealers. I help dealers to structure their businesses to maximize profits.
I look at sales and grosses and the amount of money required to generate those sales. Then using simple analysis tools I analyze past performances, develop forecasts for the future and track progresses moving forward. Based on the analysis, I develop programs/processes with the dealer to allow his organization to capitalize on the oportunities that are highlighted in the analysis. Simply put, I do what ever needs to be done to maximize the dealerships profit potential.
This inquiry concerns a potential client. I have discussed with him the possibilities of me working with him, and in the process learned of his accounting methods. By the way, he is currently using "self composed excel spreadsheets". He needs lots of help.
Not to further confuse you about inventory and accrual basis vs cash basis, but your home state's Sen Baucus' tax proposal would allow per Kiplinger "More firms would be able to use cash accounting...those with gross receipts averaging $10 million or less in the previous three years, even if they have inventories..."
In other words as of right now cash basis for a company requiring inventories is not allowed. even in Montana :)
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