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We have been attempting to reduce the amount of days that it takes to finalize our previous month and get the monthly statement done. We are trying to get it to 5 days or less. Our store normally takes 10 days or so to close out the month, so we are quite a ways away from the goal. The reason it takes us so long to close out the month is that it takes F & I until the 3rd of the month to finish up all deals. It then takes the accounting office a few days to post & cap all the deals. Finally, it takes our controller and GM about 2 days to do the statement. It is usually the 10th-11th of the following month until we see the statement from the previous month.
I feel like we take way too long to close out the previous month and I know there is quite a bit of area to improve. One thing we are big about, is not having to many deals that rollover from the previous month. Do we need to stop caring about the rollovers and start setting some deadlines? I would love to know what works for other stores. What is your guys' thoughts? Do your stores have a process for closing out the month? Or do other stores even care about it?