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By Deal Pack - November 6, 2012
Another month has come to a close so quickly! It’s time to get those reports printed out so you can close out and enjoy the next month. It is highly suggested on the last day of every month to run particular subsidiary reports and save them for the purpose of retrieving them at a later date if you have an auditor sitting in front of you wishing to see these from 6 months ago. What reports do you print in Deal Pack? At month end you will want to print the following reports:
1. Receivables: Print the Balance Report for active Loans and/or Leases. Always exclude open Wholesale Receivables for a true customer AR Balance. To obtain Wholesale Receivable report, you will bring the Balance Report again, but only opting to show Wholesale.
2. Inventory: Make sure you print a report that shows all active Inventories in your system at the end of the month. Remember, if you lease vehicles you will need to print your Lease Inventory as well if your company handles Operating Leases.
3. Unearned: If you are a finance company you will need to print a report showing your Unearned Discount to date. On the same report if you are a company that handles loans as Add On Interest method you can find the Unearned Interest dollar amount as well to with you statements.
4. Payables: You will want to print a report of your unpaid invoices and use the Net Invoice due as your number to balance with our financials. If you are a sales company you will want to print out the Trade Lien Payable report for unpaid liens.
Printing these few reports on the last day of the month will keep things consistent with your end of month financials. If printing these reports is too much, Deal Pack offers an additional feature called Archived Schedules which automatically retrieves month end snapshots of your balance report at month end so that individual subsidiary balances can be viewed from prior months. For more information on this feature please contact our support team at 800-526-5832.
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Advanced Business Computers of America (ABCoA) develops and supports end-to-end software solutions for the subprime finance industry. Since 1983,
we have helped automotive dealerships and finance companies eliminate duplication, remain compliant, and achieve success with dependable, all-in-one software and white glove service and support.
Deal Pack is a complete, all-in-one software ecosystem customizable to your exact needs and scalable to your exact size - helping improve your operations, grow your business,
and solve the challenges you face. Whether you are a finance or sales company, multi-entity or publicly traded company handling BHPH or LHPH, operating or capital leases,
internal or external floor-planning, retail, rentals, consumer loans, origination, or seasoned paper, Deal Pack is the dependable software for mission critical operations.
Deal Pack handles all of your business needs transparently – providing you measurable improvements and complete financial control, saving you time,
increasing your bottom line, and allowing you the freedom to focus on your daily operations. Deal Pack is relied upon by thousands of customers across
all 50 states in the United States and six countries around the world. Customers properly using Deal Pack have never lost an IRS audit.
To learn more about ABCoA, visit www.abcoa.com.