Author Description

Catch me if you can! Although this guide is not written as an internal control guide – or a means to protect your dealership from future theft -- the objective is to help you use both financial and operational reporting to monitor your dealership or group of dealerships. We will be discussing how to run reports on your DMS system and analyze them with Excel. How to spot-check various risk areas Running reports on your DMS system and then analyze them with Excel. I once heard this story about honesty. A third of the population is honest. They were born honest, raised honestly, and will never steal in their life. A third is dishonest. Yup, bad to the bone. If they can figure out how to get to your money, they will take it. These two groups you don’t have to worry about these. The completely dishonest are either in jail or on their way to jail. It is the middle third that you need to worry about. They will steal if three conditions exist; They need the money. With rising healthcare and housing costs, the need is great. Some have a drug, gambling, or drinking problem- or all three! There is opportunity. For someone who works in a casino or bank, there really isn’t much opportunity to steal cash. Everything is locked up and under surveillance. But in a car dealership? It is everywhere! In addition, there are other things that are great to steal like customer’s trade-ins, parts inventory, office supplies, etc. They feel justified. This is a tough one, but I hear it all the time. Someone worked overtime, but didn’t get paid because it wasn’t “pre-approved.” Another person got their hours cut back or a smaller bonus. The most common is a change in their pay plan. They don’t like it when you change the rules, especially when it comes to their income. After hearing about the controller that stole over 10 million, I wrote this book to help management run better reports, not only to make more profit but to make sure everyone knows "we are watching you!"