Dave Keller - Most fraud is uncovered because the person committing the fraud made a simple mistake or forgot to do something that day to cover it up. Most fraud, if committed by an office manager or controller, is normally difficult to discover...
David Keller - If your sales and gross profits are declining, are your total expenses decreasing proportionately? If not, it’s time to review your income statement. Print your income statement in a format with the last 12 months side-by-side in...
David Keller - The buyer should always review any and all existing leases of the dealer to verify which leases must be assumed through purchase...
David Keller - Walk into your dealership tomorrow and begin to look at it differently. Or better yet, why wait until tomorrow? Walk out the front door right now, get into your vehicle and drive around the block...
David Keller - Can you believe its almost the end of the year? Start your end-of-the-year tax planning now. Don’t wait until it is too late to make changes to your operations, setup up a new company or hire the extra person you have been talking about...
David Keller - Projections should be completed as if you have sold the notes to an RFC so you can review the effect on net income, cash flow, net worth, working capita, and other factors that are important to the operations and health of your dealership...
David Keller - Accounting for the different types of car deals generated from your F&I programs is important if you want to completely understand your business operations and the resulting effective gross profits...
Dave Keller - Gross-profit percentages are very important if you want to show a profit in the service and parts departments. You should set your goals to achieve 70 percent for labor and 40 percent for parts...
David Keller - Most agreements promise to bring individuals to your dealership for a desk person, F&I manager and a closer during the sale. Usually, the length of the contract is for the sale period...
David Keller - The IRS has stated that it believes tax return accuracy is at one of the lowest points in history. This indicates that they will be trying any and all means available to tighten compliance with the law in whatever manner they can...