Accounting and financial control for large dealerships has been taken care of for many years by robust packages which provide the dealership with a complete financial picture into their operations. Small dealerships haven’t been so lucky. The functionality of these legacy systems is too broad and therefore too expensive, for small dealerships. Most dealerships operate on thin profit margins and require more detailed and timely information to best manage their cash flow and make informed decisions to better the operational efficiency.
The Accounting Module has been designed to satisfy the requirements of smaller dealerships for a fraction of the cost of traditional dealership accounting systems and with more functionality than ‘off the shelf’ accounting packages unfamiliar and inflexible to the needs of a retail automobile dealership.
The Unified Data Model utilized by the Master Mind product gathers and stores every aspect of every deal. This information is translated and reported through Accounting Module for accurate P&L statements, income and balance sheets, sales tax reports,payroll and commission reports, vendor invoices and purchase orders and transient money due reports for accrual accounting practices. The ability to quickly view per deal charges for overhead expenses such as advertising and the ability to assign floor-plan interest charges in a timely fashion only increase the dealership’s empowerment over its cash flow. Interim reports are quickly available through the integration the Unified Data Model provides. A dealership can review an accurate financial picture of the operation anytime without involving have the staff to prepare the reports.
The Accounting Module is designed from the dealer’s view and conforms with FASB regulations for disclosure and reporting. The Accounting Module eliminates the dealership’s struggle with an ‘all for one’ accounting program and provides a cost effective solution which is intuitive to a dealership’s operational process and needs. The Accounting Module is supported by Master Mind’s Unified Data Model which allows the synchronization of information throughout all departments of a retail automobile dealership. The timely availability of this information is vital to the decisions which govern daily operations.