Month and Year End Procedures

Month End / Year End Procedures

The procedures for a Navigator month end are the same as for a year end, reconciliations and balances checks should be carried out at frequent intervals during the month.

All the following reports can be viewed on screen and saved to a spreadsheet without the need to print.

Vehicles:

Vehicle Stock Report

This can be run retrospectively in the Nominal Ledger (Accounts > Nominal Ledger > Reports > Schedule Nominal). Enter the nominal code (New 1.30.60.80, Used 1.31.60.80, Demo 1.32.60.80), schedule by Stock Number and enter the date. This will analyse the vehicle stock nominal code as at the selected date.

Vehicle Aged Stock Report

This can also be run retrospectively, using the same report as above, using the “Adopt Date”.

NOTE – This will only give an accurate analysis of the age of the adopted stock for customers that have been on Navigator for several months, as it ages the stock by “Adoption Date”. New customers will always enter the brought forward stock with an adoption date of the first day live. Until all this stock has been sold, this report will give a false ageing.

If this is the case, a Vehicle Aged Stock List can be obtained from the Sales Managers Toolkit > Reports. This report uses the date in stock and not the adoption date.

Vehicle Debtors Report

This can be found in either Sales Managers Toolkit or Vehicle Administrators Toolkit in the “Reports” tab.

This report displays not only the value of the vehicle debt but also the Finance Commission debt on each stock number, providing this figure has been entered accurately before the vehicle invoice was raised.

Unclosed Deals – Pipeline Profit Report – Actions Report

Only closed deals contribute to the Profit and Loss in the Nominal; profits/losses on un-closed deals are held in the Balance Sheet.

This report can be found in Sales Managers Toolkit > Reports > Pipeline Profit.

Deals do not have to be closed on or before the month end date on Navigator, the user will be prompted to close the deal on the invoice date. This ensures that all deals should fall into the correct month for calculating vehicle profits.

Deals can be prevented from closing retrospectively by amending the “Nominal Back Posting Date” in the Nominal Ledger (see “Nominal Ledger” notes).

Navigator will prevent deals from being closed if certain key actions haven’t been carried out (Internal costs accepted, Vehicle invoiced, Vehicle delivered). A deal can however be closed if the deal is still on the Vehicle Debtors Report. Un – allocated vehicle costs can be reviewed and actioned in Vehicle Administrators Toolkit > Reports > Actions Report > Un Assigned Costs (with a tick).

Once closed, external costs cannot be posted to a deal, unless the deal is re – opened (not recommended!)

Closed Deals – Profit Report

This report will give an accurate analysis of all closed deals within a date range by salesperson, customer type and new/used.

Parts:

Parts – Aged Stock Report

This report can be viewed in Parts Managers Toolkit > Advanced Reports > Aged Stock List but this report is “real time”. A retrospective Aged Stock Report can be viewed in the “Reconcile” feature in the Nominal Ledger. (Accounts >  Nominal Ledger > Reports > Reconcile – select a date, “Report”, and double click on the Parts Stock line on screen. This will display a full Parts Stock List as at the selected date.

Old Unit Returns

This report lists the old units (surcharges) that are still in the dealership waiting to be returned to the supplier.

The parts staff will have had full training on how to return old units, this stock list should be up to date at all times.

The balance on this report is included in the Parts Stock valuation - “Old Units Cost”.

Workshop:

WIP Report

This report can be viewed in the Workshop Managers Toolkit > Reports > WIP.

The key columns in this report are “Parts”, “Sub Contract” and “Days Over”.

Navigator doesn’t ordinarily value the labour element of work in progress, the value therefore is from parts issued to jobs.

Warranty Debtors

This report can be viewed I Workshop > Warranty Ledger > Warranty Claims, selecting “Search” will display all outstanding claims.

Till Reconciliation – page 3

It is good practice for someone in the Accounts Department to run a Workshop Till Reconciliation on a regular basis.

When the Till Reconciliation is run for “today” there will be a Page 3 (doesn’t display/print if backdated Till reconciliations are selected).

This will display a list of all jobs that are invoiced not released, these vehicles should still be on site if the payment type is anything other than credit (i.e. in the Suspense column).

Sales Ledger:

Aged Debtors

This report can be reviewed in Accounts > Sales Ledger > Debtors.

This report can be back dated if required.

Purchase Ledger:

Aged Creditors

This report can be reviewed in Accounts > Purchase Ledger > Creditors.

This report can be back dated if required.

GANI – aged transactions

This report can be viewed in Accounts > Purchase Ledger > GANI.

It shows all outstanding balances still in the GANI (un-matched to P/L invoices), by supplier.

If “Detailed Report?” is selected the screen displays all individual transactions by supplier.

If the user right clicks on any of the blue column headers and selects “Show Group by Box” an additional filter field appears above.

Drag the column header “Date” into this area and release, this displays all transactions by date.

There should be very little with a date older than one week.

If this report is backdated, transactions and balances will be selected from the current – dated report; any previously cleared GANI transactions won’t be re – added to the report.

Nominal Ledger:

Reconcile Report

This report can be viewed in Accounts > Nominal Ledger > Reports > Reconcile.

It shows most key control account balances, displaying both Nominal and Ledger values.

These should show a zero difference.

If a difference is displayed, double – clicking on the line will show the total balance broken down by account/stock number.

Selecting the chevron buttons will help discover when the control account went out of balance.

Any differences must be investigated as soon as they are discovered.

Bankings – Nominal Linking

This report can be found in Accounts > Nominal Ledger > Journals > Nominal Linking.

By entering each banking nominal code individually (i.e. 1.10.60.0) and selecting “Retrieve”, a review can be made of any outstanding, unaccounted for receipts.

Nominal Back Posting

This field protects the Accountant from un – authorised nominal back posting.

The date selected must be the first date postings are allowed and not the last date of the closed period!!

Key nominal codes – write off, discount

The “write off” nominal code is populated as default on several occasions.

As such, it needs to be reviewed on a regular basis.

If a GANI transaction is matched to a Purchase Ledger invoice and there is a balance remaining, the default nominal code is the branch and department that posted the GANI line followed by the write off nominal code. For example, a Parts mis-match in branch 1 will be posted to 1.10.40.7

If there is a value written off as a result of a parts stock adjustment, one half of the posting will be to nominal code 1.10.40.7

Similarly, if a balance remains on a warranty posting in the workshop it will be posted to 1.20.40.7

Any adjustment made to a system retail price during the order or invoice process will be posted to the discount nominal code.

Any adjustment to a vehicle retail price during Sales Order Processing will be posted to the discount nominal code (i.e. Used Vehicle 1.31.20.30)

Any adjustment to a parts retail price whilst raising an invoice will also be posted to the discount nominal code ( i.e. 1.10.20.10 – Parts Department or 1.20.20.10 – Service Department).

Cash Book:

Bank Reconciliation

This can be found in Accounts > Cash Book, select the “Reconcile” button.

Check that the latest bank statement has been reconciled, and that this covers the month/year end.