What is The Virtual Controller?
What is it that we do?
We solve problems… Plain and simple.
With over 20 years experience in automotive Accounting and Operations, we have developed specific processes that can assist and streamline accounting office efficiency.
So what does that look like for your dealership?
Having an advanced understanding of dealership operations, we can help your accounting office in many different ways. One of the monthly packages that we offer specifically relates to the controller desk.
- Financial StatementWe can provide a monthly set of reconciliations for banks, payroll, factory statements – including parts, floorplan and mortgage, and expense pivot reports. While this can save valuable time for your in-house Controller, it is also a third-party checks and balances system for added level of accountability. As Controllers ourselves, we understand and appreciate this additional level of verification. We also perform financial statement analysis before/during/after submission to your factory. We also review your trial balance for accuracy during the month. We can provide expense review month over month to track any increase or decrease and make recommendations regarding streamlining.
- F&I ProductsSome of our dealerships sell many Finance & Insurance products. With the recent addition of the Darwin platform, we have found that the reconciling of the F&I products to the monthly billing has become very cumbersome. This really requires a skilled understanding of Automotive Accounting. For those office’s struggling to hire qualified team members, this is somewhere that we can assist! We are very knowledgeable in reconciling of F &I products against your DMS. For stores with a large volume, or stores that are short staffed, this can relieve much pressure on the in-house team. We can navigate through any variety of dealership policies regarding subsequent chargebacks.
- PayrollOutsourcing payroll is never ideal in automotive. However, remember we are automotive pros ourselves. We have an in-depth understanding of timekeeping, commissions, pay plan drafting, biweekly and semi monthly payrolls, weekly payroll and end of the month washout commission payroll. We understand The complexity of salesman’s pay plans. We are experienced with salesman draws against commission and complex step/level bonus pay plans for your management. We are also familiar with the processing of tech time and reconciling against work in process /WIP. This can be a huge relief for your in-house staff and adding a layer of third-party accountability for your payroll processing. We can assist in any capacity of Payroll Processing.
- OperationsAgain, we are problem solver‘s. If you have a situation that is unique to your store that you need assistance with or a third-party to analyze and make recommendations, we can assist! We are able to review training, process review, implement a monthly reporting procedure to keep your office staff current and accountable, and recommend new procedures to assist in office efficiency.
- Full chargeFor some dealerships, hiring a skilled Controller and this market has proved very difficult. As this is such a specialized trade and there are not many controllers in the job market. If your store is in a transition and in need of a full charge controller, we can help. This could be a temporary assistance while you recruit, or we can take hold of the sacred financials and do daily reporting to the store’s Dealer, Partner, and/or GM.
- Savings!As a third-party, your company will save by using us versus hiring an in-house team. The savings to your dealership is limitless. Your store will save by hiring us! You will not have the high dollar Contoller payroll, the always increasing hourly wage of office staff, Payroll Tax on all these positions, Medical benefits, Paid days off and vacation time. Now is the time to review your expenses and seriously consider how to reduce. We know Coproate taxes are only going to increase and the cost of business and maintaining a business is going up, up, up. This is a smart way to reduce in house expenses while getting an advanced accounting and operations team at your access.
Please contact us today for a brief consult. we can assess and see how we can assist your store and your dealerships specific needs.