Accounting for an Auto Repair Business
An auto
repair business benefits from using a business-specific and integrated
accounting system into its daily business practices. This kind of integrated
accounting software saves money, time, avoids duplicate data entry and
ultimately serves as a panacea to the business owner to help prevent those nasty
tax-based headaches that occur in the spring of every year.
Features
and Benefits
A good auto repair business accounting system
provides many options including appointment control, work-in-progress (WIP)
tracking, point-of-sale accounting and customer data and history. The software
also needs to provide parts management including inventory control, daily sales
reports, time/materials invoice calculations, marketing features, payroll tied
to invoicing, accounts receivable/payable, banking, general ledger integration
and report capabilities that include uploading to other software systems such
as QuickBooks.
Software
Integration
An efficient accounting software system has access
to future scheduling features, inventory, accounting alerts, customer retention
tools and marketing capabilities. Each of the modules in an accounting system
must be integrated with the system's other modules to prevent duplicate data
and allow data sharing between modules.
Payroll,
Job Costing and Customer Invoicing
When an employee reports the hours worked on a
particular vehicle, in an integrated software system, this information feeds
payroll, job costing, inventory and parts management (if needed), customer
invoicing and history.
Database
Access
Industry standards set the times needed to complete
specific car repair jobs and a good accounting system provides national job
guide data at the touch of a button. Additionally, good accounting systems also
have vendor integration capabilities so that part ordering can occur through
the accounting software system and the transaction automatically books into the
appropriate modules.
Banking,
Check Writing and Credit Card Features
Banking, check writing and credit card charges are
all part of the daily aspects of managing the cash flow for an auto repair
business. Software that integrates these features makes it easy to run your
business without spending a lot of time handling accounting functions, as the
integration allows these transactions to book across the needed modules.
Article by: Maria
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