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I was recently in a training and one of the topics discussed was closing out the month in 3 days. 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 about the 5th 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-13th of the following month until we see the statement from the previous month.
I feel like we take too long to close out the previous month and this training was a pretty big eye opener. They discussed ways to expedite everything so you could close the month by the 3d of the following month. I know we have room for improvement but I feel like 3 days is pretty unrealistic. What is your guys' thoughts? Do your stores have a process for closing out the month? Or do other stores even care about it?