Improving Your Accounting Department

The dealership office is normally the “forgotten” department of the store. The office staff normally feels as if no one cares about them. They don’t produce gross profit for the bottom line, so why should you spend any time with them or tell them you appreciate them for what they do for the store? They are always telling you what everyone else is doing wrong and complaining about all the work they have to do.

Well, if I were you, I would keep listening to them and pay attention. They are the “police force” of the dealership that watches your back and keeps everyone from taking advantage of you. They keep watch on your money, your assets, personnel, vendors and customers. They pay your bills, complete payroll, listen to all the managers complain about what you won’t do for them, clean up all the paperwork from all the other departments and try to show you a profit at month’s end on your financial stat
Sometimes doing all of the above wears down the morale of the office staff. Most office staff work very hard to complete everything on a timely basis and as accurately as possible. They feel underappreciated for the work they do to “clean up” the other dealership employees’ and managers’ messy paperwork.

The best thing you can do is reinforce the great job your accounting department does. Meet with them on a regular basis to find out what everyone else in the dealership is doing or trying to get away with. Sit down with them to review your expenses each month and ask them what needs to be done to reduce or eliminate those expenses to increase your profits.

Your accounting office doesn’t produce gross profit but they can let you know the gross profits in the various departments are not up to standards or meeting industry minimums. The accounting office can help you reduce the number of low- or lost-gross-profit transactions which take place each month.

There are many ways to improve your office. One of the first things you can do is keep everyone who doesn’t need to be in the office out of there. Constant interruption causes concentration to decline and it’s not what you want to happen when someone is handling your money.

Another thing you can do is review what paperwork the office staff is always cleaning up for the other departments. One of the gripes I hear most from the office staff is the condition of the car deals which arrive in the office. They seem to be missing some stip or signed document to get the deal funded in a timely manner. Most of this is due to either the sales or F&I staff not doing their job as best they can. F&I managers need to be good at selling and getting the deal closed for you to make money, but you also need to collect the contract proceeds in a timely fashion in order to stay in business and pay off the floor plan within guidelines to avoid audit problems.

Your office can tell you when the service department is not closing their repair orders and not submitting timely warranty claims. There is normally a time frame to submit and obtain payment from the factory for the warranty claims. When you don’t collect it, your office will charge it off to policy expense. You may not see this expense itemized on your financial statement because it is normally buried among other expenses you don’t study very closely.ement, even though their job is not to create sales or gross profit.
Writing off unapplied time or excess work–in-process can cost you “lost gross profits.” Any time you write off could have been turned into labor sales, which would have produced gross profit for the service department. Any adjustment besides a small one should be reviewed each month to figure out why you have it. Doing so can increase your profits.

Having your office manager run and review various reports for the parts department, which your parts manager doesn’t have time to do, can alert you to problems early so they can be addressed and corrected. These may be problems with overage inventory, excess inventory, excessive negative parts on hand, a large amount of non-stocking parts, and discrepancies between the parts counter pad and the general ledger, etc.

Another problem I see frequently is the office continually having to answer phone calls intended for other departments. Again this breaks concentration and can contribute to mistakes and inefficiency in the office. I know it sometimes can’t be avoided due to the lack of adequate staff, the cost to hire a receptionist or the time of day, but you should take a hard look at what this is doing to your accounting department. It could be just as easy to make sure a salesperson or manager is available to answer the phones during heavy peak periods.

I know I am partial to the accounting department, but someone has to tell their story. Use their abilities to the fullest to aid in increasing the profitability of your store. Let them know you care about their contributions toward your bottom line and your well-being.
                                                         by Killian Dynamics.

5 Ways to Improve Your Productivity in the Office

5 Ways to Improve Your Productivity in the Office.

It is possible to find extra time in your day simply by reorganizing the way in which you approach the tasks that fall within your responsibility. Take a look at each of the following areas of your working life and see where you can make improvements which will allow you to put more time into the things you really need to focus your attention on.

1. Communication
One of the most important skills in any business is effective communication. When you are communicating with staff and clients, make sure that all your instructions and information is understood the way you intend it to be. Simply repeating the same request in different words at the end of a conversation can mean the difference between getting the report you want and the one that your staff thought you wanted.
With communication, clarity is the number one objective. You may have a Masters degree in English, but the person you are communicating with may not. By keeping the language you use simple, you increase your chances of having your message understood.
Just by speaking clearly, concisely and checking that the person you are communicating with has understood what you have said, you can save precious time by getting what you need first time.
2. Planning
This is something that is needed for both repeat projects and larger projects.
Keep a yearly planner on your desk that you record repeat projects (annual/monthly/etc) on so that you can see at a glance when you need to start collecting information for them.
With larger projects, plan the entire project at the beginning. Break it down into smaller steps and assign a date by which each step should be completed. Delegate any of the project that can be done by someone else, but keep it closely supervised as to who is doing what and when you need it completed by. Once you have planned how you will do the project, you will find that you are less likely to put it off until the last minute.
3. Prioritizing
Jumping around from one project to another, not feeling as if you have accomplished anything each day or constantly rushing to finish on deadlines is a sign that you need to reorganize how you approach your task scheduling and work prioritizing strategy.
Each morning go through your in box and prioritize its contents. Once you know what has to be done, how urgently it is needed, and how long it is likely to take to complete, add the tasks in order of importance to your work schedule for the day. When the mail comes in, prioritize any items that need attention, and then add these to your work schedule.
At the end of each month take a look at the projects that are known for the month ahead and start to provisionally schedule when you might start working on these so that you start the month already thinking about what needs to be done.
4. Procrastination
For many people, this is the biggest time thief of all! The most vital thing you need to do is to acknowledge that you are guilty of procrastination, and then identify the tasks you tend to put off as long as possible. Once you know which things you are likely to procrastinate about, consider why it is you don’t want to do them. Perhaps they are too large, too boring, or just seem like a waste of your time. By identifying the reasoning behind your procrastination issues, you can find solutions, such as breaking larger projects down into smaller pieces (see planning above), scheduling the boring tasks for first thing in the morning so they are done, and delegating (see delegation below) any tasks that are so routine they feel like a waste of your time. Eliminate procrastination from your working day and see how much more you can accomplish in your day.
5. Delegation
If you have staff employed to help you, delegate some of your routine tasks which you can quickly instruct someone else to take responsibility of. Remember to communicate the instructions clearly and ensure they are understood before leaving the task in the employees care. Once you delegate something, just a quick review to ensure it’s done correctly and on time is all that you should need to do. Shuffling a few of these tasks to team members will free up your time for more specialized work.

                                                                                                                        by K James

Coping Under Pressure?

For many of us, the more successful we become, the more stress and pressure we have to deal with. So, how can you continue to thrive in high-pressure, high-stress situations?

Sarah is a manager in a high-volume call center, and her job is very stressful. She interacts every day with angry, upset customers, she needs to keep her team members calm and productive, and she has to meet tough customer satisfaction goals. Despite these pressures, Sarah is known for her professionalism and her composure. She's kind to everyone on her team, she stays cool in tense situations, and she makes good decisions, even when she's under pressure. Sarah has mastered the art of surviving and thriving in a stressful role. Learn how to cope with a high-stress role. © iStockphoto/wragg

Many people experience stress in their jobs. You might feel stressed temporarily because of a project deadline, or because of seasonal fluctuations in your workload. Or you might experience long-term stress due to the type of work that you do, because of a difficult boss or co-worker, or because of office politics. In this article, I'll look at the consequences of job stress, and I'll explore strategies that you can use to manage a stressful job successfully. Consequences of Stress Job stress has a number of negative consequences that, if left unmanaged, can affect your health, productivity, well-being, and career. For example, a study conducted by researchers at University College London found that professionals who work in high-stress environments are more likely to suffer from high blood pressure, insulin resistance, and high cholesterol - all of which increase the risk of heart disease and diabetes. Long-term, unmanaged stress can weaken your immune system, it can cause chronic muscle pain or sleeplessness, and it can contribute to obesity. It can also lead to a number of psychological conditions, such as anxiety or depression, and it may cause relationship problems with others on your team. Research published in "The Handbook of Organizational Behavior" shows that burnout is a likely consequence of long-term job stress. Emotional exhaustion, lowered productivity, and higher absenteeism can all result from this. Warning: Stress can cause severe health problems and, in extreme cases, even death. The strategies discussed in this article are for guidance only. You should take the advice of suitably qualified health professionals if you have any concerns over stress-related illnesses, or if stress is causing you significant or persistent unhappiness. Why You Should Control Stress There are many good reasons why you should control workplace stress. You'll be more productive and creative at work, you'll have better relationships with family and colleagues, and you'll produce higher-quality work. You'll also be healthier and more energetic as a result. Symptoms When your job is stressful most of the time, stress can have a negative impact on your health and productivity. There are many warning signs that you're experiencing high levels of workplace stress, including: Frequent headaches/muscle tension. Persistent sleeplessness. Ongoing irritability. An upset stomach. Low morale/depression. Prolonged difficulty concentrating. Weight loss/gain. Continued loss of interest in work or hobbies. Social withdrawal. Tip: Use the Holmes and Rahe Stress Scale to explore your current levels of long-term stress. Strategies to Manage a Stressful Job Let's look at several ways that you can manage the stress in your role. Identify Causes Before you can manage stress, you first have to know what causes it. A survey by HR firm ComPsych revealed that 59 percent of professionals report a heavy workload as their leading cause of stress. Other common causes of workplace stress include: Workplace pace and unrealistic deadlines. Persistent bullying and abuse. A difficult boss or colleague. Long work hours. Poor management. A lack of autonomy. Poor work/life balance. Meaningless work. Career concerns (no upward mobility, or a lack of job security). An unhealthy work environment. A lack of resources. Keep a stress diary to understand what causes you to feel stress in your job. Once you've identified the factors that contribute to your stress, you can then take appropriate steps to manage them. Think Positively Your attitude plays a major role in your level of stress, no matter what kind of work you do. You can choose to approach tasks, responsibilities, and people with a negative attitude, or you can choose to approach your work and relationships with a positive mind-set. Although the amount of work is the same, the impact on your health and well-being is profound. Research shows that positive thinking acts as a stress buffer. Whenever you catch yourself slipping into a negative frame of mind, make an effort to think positively instead. This might mean challenging your negative thoughts with rational, fact-based thinking, or using affirmations to boost your self-confidence. Calm Down Stress can often cause you to stop breathing for several seconds, even though you may not realize it. When you're feeling stressed, practice deep breathing exercises. Deep, slow breathing floods your body with oxygen, slowing your heart rate, relaxing your muscles, and helping you focus. You might also want to practice yoga or meditation after work, both of which are effective methods of managing stress. Frequent daily breaks and regular vacations are also important for reducing work stress. Even a long weekend can help you de-stress after a tough week. When you do take a break or go on vacation, leave work at work; taking a "working vacation" or constantly checking email while you're gone won't give you the time that you need to rest and recharge. Manage Your Time Your job might be stressful because of your workload or project deadlines. You can lower your stress levels and improve your productivity by learning to manage your time and priorities more effectively. First, take our quiz, "How Good Is Your Time Management?," to discover how well you're currently managing your time, and to get suggestions for improving your time management. Distractions in the office can be a major source of stress. These distractions can come from well-meaning colleagues, from constant phone calls or emails, or from general office noise. Minimize distractions by closing your office door for short periods of time, by turning off your phone, or by listening to white noise to drown out people's conversations. Exercise Regular exercise is one of the best ways to manage a stressful job. Daily exercise helps you cope with stress; it also boosts your memory, creativity, IQ, and productivity. You can fit exercise into your schedule in many ways. Wake up earlier and exercise before work, take a walk on your lunch break, or use a standing desk while you're at work. Remember, any additional movement will help you manage stress and live a healthier life. Take frequent breaks to move around and let your mind rest. Try taking several five- or 10-minute walks during the day; it might not sound like much, but this exercise and fresh air will give you time to rest and recharge. Manage Priorities Conflicting priorities can be a major source of workplace stress, especially when you have to push important work aside to focus on less important, but urgent, tasks. Use the Urgent/Important Matrix to reorganize your priorities and to ensure that you're devoting enough time to important, and not just urgent, work. You also need to choose the right tasks to work on. Some tasks require a lot of time and energy, yet they have a low impact, while other tasks have a big impact, but require little effort. Use the Action Priority Matrix to identify which tasks are worth spending time on, and which you can safely delegate or drop. If you're working on a project that seems overwhelming, break it into smaller steps. This allows you to accomplish one thing at a time, instead of trying to take everything on at once. Increase Autonomy Autonomy is the freedom to decide how to accomplish your work. Professionals who work in roles with low autonomy often experience more stress and dissatisfaction than those with greater autonomy. Speak with your boss about your current goals or projects. Where appropriate, ask for the freedom to choose how you accomplish these goals. This could include working from home one day a week, or choosing who you want to work with on your next project. Use job-crafting strategies to reshape your role and to better use your strengths and interests. This can lead to greater productivity and less stress. You might also find that job crafting adds interest and meaning to your work. Assess Resources Look at the work that you do. What are your biggest frustrations? Where are your bottlenecks? Where are you most inefficient? These situations often point to a lack of training, tools, resources, or help - all of which can contribute to workplace stress. Make a list of what you need. Let your boss know what you're lacking, and explain how these items will help improve your productivity and effectiveness. If your boss can't provide the resources that you need, think about how you might be able to negotiate for them with others, or acquire them on your own. Find Meaning What do you love most about your job? What gives your work meaning? These questions might sound simple, but they're important. If you know what gives your work meaning, it will help you manage the stress that goes along with it. Use tools like the MPS Process and the PERMA Model to identify what you care about, and to think about how you can incorporate more of these things into your career. Key Points Everyone experiences stress at work from time to time. However, if your job is consistently stressful, it's essential to find ways to manage that stress. Long-term stress can lead to a number of health problems, including high blood pressure and a weakened immune system. It can also contribute to heart disease, obesity, anxiety, and depression. To survive a stressful job, start by identifying what causes your stress. Next, confirm that you're handling your priorities and time effectively. Last, get regular exercise and make sure that you have the tools and resources you need to do your job.