Business Management 💯 Flashcards
Know what the Compliance and Ethics program is and who is on the committee members.
Committee we have in place to help with ethical concerns/ questions
Josh Weiss
Marcus Adriel
Paul Evon
Stephanie Bryant
Seth Alte
Ways to bring forward an ethic concern
-Ethics hotline
-Directly email a member
-Report to any higher member of management
Know how to handle ethical concerns: backdating contracts, sharing passwords and updated codes pending tickets, credits on your AR run, accepting gifts from Vendors/ customers
-Only back date overnight drops/ rewrites
-Never share passwords, gas pins
-branch eats cost of bill and then receive payment on next month’s statement
-gift is over $10 give to BM and raffle it off to the branch in a contest
What is the maximum length we should pend tickets?
Retail: 0
Insurance/ body shop: 5 days
Dealership: 3 days
Know our cash box and deposit policies: cash over/ short, deposit procedure
Do Deposits Daily- everything done in RFS
Cash box is over/short (know 7 steps)
Check cash log
Recount
Check with employees
Review previous cash deposits
Check open/ closed tickets
805 worksheet
Email ARM, GRM, and Accountant
Know when to do RFS adjustments and write offs
Closed tickets: RFS
Open ticket: Cust Sat write off
What is considered bad debt?
-Uncollectable AR’s
-Cust sat write offs
-Chargebacks
-Discount fees
How can you reduce bad debt?
-Proper underwriting
-Callbacks
-Working ARs
Be able to explain chargebacks: process and impact
Someone disputes charges with their bank, if bank approves then we eat the cost, we bill that person out and put on DNR
Impact: follow underwriting guidelines, only take chip, proper signatures on contract
Know our ticket policies: Voiding, pending, back dating, closed ticket notes
Pending tickets
Insurance/ body shop - 5 days
Dealership- 3 days
Retail- 0
Corporate
Closed ticket notes: use RFS
Void ticket:
Never void ticket if customer gets in car
Know how pending tickets impacts SQI
Don’t pend tickets, customers get aggravated waiting for deposit, negatively effects SQI
Know what Personally Identifiable Information is and our obligations with PII
Shred, lock up, and secure any personally identifiable information from customer in branch. Destroy all contracts left in vehicles
Know how to increase your pay based on how the pay plan is structured
Leads for life, Beat previous years numbers
