Owners of automobile dealerships understand that there is a huge amount of paperwork involved in one sales transaction. It sounds simple enough, a customer wants to trade in a vehicle and purchase another one. Well, with all of the vehicle regulations, sales tax payable, insurance and financing issues, warranty vs. guarantee, state inspection and registration, a customer’s file can contain up to 24 documents—all important to keeping accurate records and smoothly processing the financing.
Then, there is the normal accounting for the dealership’s inventory, payroll, employee benefits, sales tax payments and federal taxes. If you are the owner, you may want to plan for your retirement or eventual sale of the business at a selected point in time.
Turlington has a team of accounting and tax professionals with extensive experience in the automobile dealership business.
There are several areas of accounting specialties that our clients can access at any time. Whether your business is new, reorganizing or long-established, our consultants can assist with the purchase of accounting software systems that are customized for the auto dealership business or simply a review of your process to determine if there is a more efficient method to handle the volume of paperwork required.
Many businesses are also victims of fraud that can originate from within or from external sources. We have two dedicated Certified Fraud Examiners on staff to help in any suspected or ongoing fraudulent activity. They will assist with risk assessment, investigate suspicious actions, recommend anti-fraud controls and help resolve sensitive disputes.
Keeping your business in compliance with the constantly changing sales tax regulations is another specialized service that our clients appreciate.
Auditing of employee benefit plans for compliance and annual reviews of those plans is an important service, since the cost of these plans is a major business expense. We can assist with the planning stage, membership requirements and an annual audit and review, with recommendations based on any updates or changes that are necessary.
We have business valuation specialists on staff when you need guidance and financial planning assistance.
At Turlington, we want to simplify your processes and your systems in order to create the most efficient methodologies to operate your business at the lowest cost possible. Our staff will help you in every financial aspect of your business, in order to keep you compliant with the many regulatory agencies with which you interact, and to help you achieve the financial goals that you have for your company.
Contact us to discuss your areas of concern and find out how we may be of assistance.