Accounting Procedures

Question 1

What is the fiscal year dates

Answer 1

August 1st - July 31st

Question 2

how do you calculate days earned growth?

Answer 2

Last year’s # of units x occupancy - current year’s # of units x occupancy/last year’s # of units x occupancy

Question 3

per unit/car vs total dollars - Why?

Answer 3

to compare each branch fairly off a per car basis since each branch has a different amount of cars

Question 4

days earned % or occupancy

Answer 4

how tight are we sitting goal is 90-93%

Question 5

close pends?

Answer 5

we have the vehicle and are stopping charges ex. DB extension, car dropped at body shop, one way from another branch

Question 6

buybacks

Answer 6

when we buy a car from the dealership and they buy back the unit rented after a certain time or mileage

Question 7

Risk Unit

Answer 7

buying units from manufacturer in bulk and understanding we are responsible for the unit and its depreciation

Question 8

what are rewrites and the best practices for them?

Answer 8

vehicles rented longer than 30 days, check tires and car condition, LOFR, start new rental agreement, CC auth expires after 30 days, minimize risk of chargebacks, stay current on charges, maintain control of vehicles

Question 9

cashbox - why do we do it?

Answer 9

to be completed by MT or higher to keep accounts up to date on payments and for safety of the branch, copy made of deposit slip one for branch and one for admin