Dealership Accountant

Description:

Dealership Accountant - Job Description
Job Title: Dealership Accountant Location: [Insert Location] Reports To: Finance Manager / General Manager
Job Summary:
The Dealership Accountant plays a key role in managing the financial operations of a dealership. They are responsible for overseeing accounting processes, ensuring accurate financial reporting, managing budgets, and maintaining financial records in compliance with regulations. This role requires a detail-oriented professional with experience in automotive dealership accounting practices.
Key Responsibilities:


Financial Recordkeeping:


Manage daily accounting transactions, including sales, purchases, expenses, and payroll.


Ensure all financial records are maintained accurately and in compliance with company policies and legal requirements.


Prepare and post journal entries to the general ledger.




Accounts Receivable and Payable:


Oversee the accounts receivable process, ensuring timely invoicing and collections from customers.


Manage the accounts payable process, ensuring timely payment to vendors and suppliers.


Reconcile bank statements and monitor cash flow regularly.




Financial Reporting:


Prepare monthly, quarterly, and annual financial statements, including balance sheets, income statements, and cash flow statements.


Assist in the preparation of management reports to track key performance indicators (KPIs) and financial performance.


Analyze financial data and provide insights to dealership management to improve profitability and financial decision-making.




Tax Compliance:


Ensure timely and accurate filing of taxes, including sales tax, payroll tax, and other dealership-specific taxes.


Coordinate with external auditors for annual audits and prepare relevant documentation.


Keep up to date with local, state, and federal tax regulations to ensure compliance.




Budgeting & Forecasting:


Assist in the preparation of annual budgets, including revenue forecasts, operating expenses, and capital expenditures.


Monitor budget performance and alert management to potential variances.


Provide financial forecasts to assist in dealership planning and decision-making.




Vehicle Inventory Management:


Maintain accurate accounting of vehicle inventory, including purchases, sales, and cost of goods sold (COGS).


Ensure proper valuation of inventory on hand and assist with stock reconciliations.




Payroll Administration:


Oversee the dealership’s payroll process, ensuring employees are paid accurately and on time.


Ensure payroll taxes and deductions are correctly calculated and remitted.


Maintain employee payroll records and assist with benefit administration.




Internal Controls and Audits:


Establish and enforce internal controls to safeguard dealership assets and prevent fraud.


Regularly audit financial and operational processes to ensure compliance with internal policies and industry regulations.




Collaboration and Communication:


Work closely with the management team to provide financial guidance and support.


Assist in financial planning and analysis for various departments (sales, service, parts).


Serve as a liaison between the dealership and external auditors, tax authorities, and financial institutions.




Skills and Qualifications:


Education: Bachelor's degree in Accounting, Finance, or related field. CPA (Certified Public Accountant) certification is a plus.


Experience: Proven experience in accounting or finance, preferably within an automotive dealership or similar retail environment.


Skills:


Strong understanding of dealership accounting processes (e.g., vehicle inventory management, service & parts accounting).


Proficient in accounting software (e.g., QuickBooks, Dealer Management Systems) and Microsoft Excel.


Knowledge of tax regulations and financial reporting standards.


Attention to detail and strong organizational skills.


Ability to analyze financial data and provide actionable insights.


Strong communication skills to interact with both internal and external stakeholders.




Working Conditions:


Full-time position with regular office hours.


Occasional overtime may be required, especially during month-end or year-end reporting.


May require occasional travel to other dealership locations or financial institutions.

Requirements:

Financial Recordkeeping:


Manage daily accounting transactions, including sales, purchases, expenses, and payroll.


Ensure all financial records are maintained accurately and in compliance with company policies and legal requirements.


Prepare and post journal entries to the general ledger.




Accounts Receivable and Payable:


Oversee the accounts receivable process, ensuring timely invoicing and collections from customers.


Manage the accounts payable process, ensuring timely payment to vendors and suppliers.


Reconcile bank statements and monitor cash flow regularly.




Financial Reporting:


Prepare monthly, quarterly, and annual financial statements, including balance sheets, income statements, and cash flow statements.


Assist in the preparation of management reports to track key performance indicators (KPIs) and financial performance.


Analyze financial data and provide insights to dealership management to improve profitability and financial decision-making.