The Super-Simple Mindset for a Dealership Accounting "3-Day Close" - Kruse Control Inc
At first glance, you might think this is a post about how sharp and speedy the dealership accounting team should be - like some high-stakes,| Kruse Control Inc
At first glance, you might think this is a post about how sharp and speedy the dealership accounting team should be - like some high-stakes,| Kruse Control Inc
There are three things we pride ourselves on in the dealership accounting office: clean schedules, surviving month-end without weeping, and being able to calculate unapplied labor faster than a service advisor finds a pen. What we’re not always great at? Cross-training. It’s not that we’re stubborn. (Okay, maybe a little.) It’s just that once someone […] The post Stronger Together: The Case for Cross-Training the Dealership Accounting Team appeared first on Kruse Control Inc.| Kruse Control Inc
It starts the same way every time. A little warning. A number that’s just slightly off. Maybe a general feeling that something isn’t quite right. Sort of like when your doctor clears his throat, looks at your chart, and says, “Let’s talk about your cholesterol.” And just like that, you’re nodding solemnly while silently wondering […] The post The Dirty Seven: Accounting Bad Habits That Wreck Dealerships appeared first on Kruse Control Inc.| Kruse Control Inc
It’s clear that many dealerships are actively searching for experienced controllers. In Driving Blind: The Shortage of Seasoned Dealership Controllers, I discussed how this shortage has been developing for years, worsening over time. Now, we are witnessing its impact firsthand. Running a dealership without a firm grasp of its financials is like driving without being […] The post 12 Questions to Ask When Hiring a Dealership Controller appeared first on Kruse Control Inc.| Kruse Control Inc
I’ve spent my entire career in the car business, working in every franchise and holding just about every role within a dealership. One of the biggest momentum-killers in this industry is a lack of working capital. Without sufficient liquidity, even the most well-run dealerships can struggle to maintain inventory, cover operating expenses, and capitalize on […] The post The Crucial Role of Working Capital in Franchise Dealerships: A CFO’s Perspective appeared first on Kruse Control Inc.| Kruse Control Inc
Accounting errors happen. But when they go undetected, uncorrected, or—worse yet—intentionally concealed, the fallout can be severe. Car dealerships are no exception to this rule, and the recent story of a Macy’s employee’s accounting misstep should serve as a cautionary tale for dealer principals and general managers alike. The Macy’s Misstep: A Warning for All […] The post The High Cost of Lax Accounting Controls: Lessons for Car Dealerships from Macy’s Costly Mistake appeared...| Kruse Control Inc
There’s nothing quite like the feeling of losing money—not in the thrilling, stock-market-plummet way, but in the “Wait, didn’t we have cash here yesterday?” kind of way. I’ve met so many dealers who are sales superstars, yet at the end of the month, their profit margins seem to evaporate once everything is in for end-of-month. […] The post Stealing Success: How Messy Books Put Dealerships at Risk appeared first on Kruse Control Inc.| Kruse Control Inc
Dealership financial management plays a crucial role in ensuring success and sustainability. Two key positions at the helm of a dealership’s financial operations are the Chief Financial Officer (CFO) and the Controller. While both roles are essential for dealership financial health, they have distinct responsibilities and focuses. Understanding these differences is essential for comprehensive dealership […] The post Key Differences Between a Dealership CFO and a Controller appeared first ...| Kruse Control Inc
You'd be surprised what's lurking in car dealership accounting records and financials. I've written and spoken about this a lot and nothing really seems| Kruse Control Inc
In every dealership I’ve ever walked into, there’s always one room that feels like the engine of the whole place. No, not the showroom, not even the service drive. It’s the accounting office. It’s usually tucked away in a corner, behind glass doors that don’t quite close right, humming with printers, sticky notes, and the […] The post A Car Dealer’s Guide to Reconciliation Best Practices appeared first on Kruse Control Inc.| Kruse Control Inc
It takes an obscene amount of cash to run a car dealership. Not “a lot” in the way you might describe your cousin’s sneaker collection, but a lot in the way you’d describe Mount Everest. Cash isn’t just king here, it’s oxygen. Without it, the store wheezes, sputters, and eventually passes out. Lately, the subject […] The post Dealership Cash Flow: From Panic to Strategy appeared first on Kruse Control Inc.| Kruse Control Inc
Month-end in a franchise car dealership is a bit like hosting Thanksgiving dinner. You think you’ve got everything under control until you realize the turkey’s still frozen, the cranberry sauce is missing, and Aunt Linda has arrived two hours early asking why the table isn’t set. For controllers, it’s the same kind of scramble: dozens […] The post Month-End Checklist for Franchise Car Dealership Controllers appeared first on Kruse Control Inc.| Kruse Control Inc
Every dealership has its version of “everything’s fine.” It’s usually said just after someone asks a financial question that doesn’t have an immediate answer. The phones are ringing, the sales team is caffeinated, and the service dept has customers in the drive. On the surface, it looks like a well-oiled machine. But behind the office […] The post The Warning Signs of a Dealership Financial Crisis appeared first on Kruse Control Inc.| Kruse Control Inc
Over the years, I’ve noticed a persistent misunderstanding in the dealership world: the tendency to dismiss the accounting office as a “cost center.”| Kruse Control Inc
If there’s one thing dealers and GMs hate it’s discovering that the money they thought they made last month has quietly evaporated. Not stolen, exactly,| Kruse Control Inc
Lately, I’ve found myself obsessing over something that most people wouldn’t notice unless it jumped out from behind a sales desk and bit them. It’s not flashy, it’s not trending, and it certainly won’t get you invited to any parties (unless it’s a very sad party with spreadsheets and stale donuts). But once you see […] The post Car Dealership Accounting Skills Don’t Grow on Trees appeared first on Kruse Control Inc.| Kruse Control Inc
This week, I spoke with a potential client struggling with dealership cash flow—an issue that should be top of mind for every dealer, especially given today’s economic uncertainty. Having been in this business through the ’90s, early 2000s, and the Great Recession of 2009, I’ve seen firsthand how market shifts, consumer behavior, tighter flooring rules, […] The post 7 Top Cash Drains in Auto Dealerships appeared first on Kruse Control Inc.| Kruse Control Inc
Treating employees with respect and offering competitive compensation has a significantly positive impact on dealership profitability. When employees feel| Kruse Control Inc
Included in a dealership CFO's responsibilities is identifying operational weaknesses that affect financial performance, such as inefficiencies in asset| Kruse Control Inc
Let’s paint a picture. A dealership is hemorrhaging money, the books are in disarray with likelihood of many pending write-offs, and employees are| Kruse Control Inc
I've been working with a dealer client who's number one goal is to control expenses. They reached out for help with a common challenge: despite strong| Kruse Control Inc
I've basically been a car dealership controller or CFO my whole life. I've worked every job in the car business (except technician), and I've been the| Kruse Control Inc
The car business is a high stakes gambit. The average consumer believes manufacturers just build cars and dealers sell them - simple as that. But it's| Kruse Control Inc
