Quantcast
Jump to content


General Automotive Discussion

General Automotive Discussion Forum. Here you can discuss anything Automotive related as a member of Auto Shop Owner! All General Automotive topics allowed.


409 topics in this forum

    • 5 replies
    • 2.4k views
    • 5 replies
    • 2.1k views
    • 9 replies
    • 3.5k views
    • 8 replies
    • 1.1k views
    • 5 replies
    • 2.2k views
    • 0 replies
    • 315 views
    • 0 replies
    • 557 views
    • 2 replies
    • 1.8k views
    • 1 reply
    • 1.6k views
    • 0 replies
    • 1.2k views
    • 1 reply
    • 1.2k views
    • 0 replies
    • 1.9k views
    • 2 replies
    • 3.4k views
    • 0 replies
    • 1.9k views
    • 19 replies
    • 2.9k views
  1. Stolen Credit Cards

    • 5 replies
    • 2.5k views
  2. Oil Change Stores

    • 12 replies
    • 3.5k views
    • 0 replies
    • 2k views
    • 0 replies
    • 1.4k views
  3. Mastering Cash Management

    • 0 replies
    • 1.2k views
    • 0 replies
    • 1.1k views
    • 1 reply
    • 1.1k views
    • 7 replies
    • 4.4k views
    • 2 replies
    • 2.9k views
    • 0 replies
    • 1.8k views
    • 3 replies
    • 2.1k views
    • 0 replies
    • 1.6k views
    • 0 replies
    • 642 views
    • 0 replies
    • 654 views
    • 0 replies
    • 796 views
    • 1 reply
    • 919 views
    • 0 replies
    • 632 views
    • 6 replies
    • 1.3k views
    • 1 reply
    • 895 views
    • 15 replies
    • 1.3k views
    • 3 replies
    • 788 views
    • 1 reply
    • 734 views
    • 0 replies
    • 827 views
    • 4 replies
    • 622 views
    • 3 replies
    • 782 views
    • 4 replies
    • 829 views
    • 2 replies
    • 749 views
    • 4 replies
    • 1.2k views
    • 0 replies
    • 618 views
    • 0 replies
    • 602 views
    • 5 replies
    • 1.2k views
    • 2 replies
    • 823 views
    • 0 replies
    • 593 views
    • 0 replies
    • 689 views
    • 2 replies
    • 826 views


  • Upcoming Events

    No upcoming events found
  • Latest Posts

    • So, you specialize in BMW and/or European vehicles?  Eating the fee for U.S. brands is not a bookkeeping issue, it's a business issue.  To be clear, do you also not charge BMWs because it's "programming is included in my tool's yearly subscription.?"  Please clarify.
    • No, I charge 2 hours to program. but on the odd brands (GM & Ford) for me, that I program and have to pay oem websites. I eat the fee. I do a lot of BMWs and programming is included in my tool's yearly subscription. 
    • Help me understand you better.  You're incurring an expense for programming, yet your shop receives no revenue for programming.  Is that correct?
    • Well then, I'm not classifying the ACDelco and Motorcraft programming correctly. although I don't charge the customer for that just don't do enough to justify the yearly charges. 
    • If you dread your mid-year financial review, you’re certainly not the only one. Facing your finances can be mentally taxing, and the review is a long-winded process.  However, if you want to scale your auto repair business, it is a necessary evil that equips you with the information you need to do so. Read on for several suggestions to make your mid-year financial review a bit more bearable so you can reap the benefits that come with it.    Have your financial reports and documents accessible Having your reports and documents ready to go with an organized system will make your mid-year review run smoother. I recommend having income statements, credit card statements, balance sheets, profit and loss statements, and cash flow statements on hand. Label documents clearly, test login information for Quickbooks Online or other accounting software ahead of time, and be ready to pull up reports dating back to January of this year.   Focus on your achievements  As I’m sure you know, automotive businesses will experience ebbs and flows in their financial performance. You’re likely to notice significant spikes in your income followed by undesirable dips. These are all part of the entrepreneurial game, specifically in industries where you’re more likely to navigate slow seasons.  Don’t let the lower-income months put a damper on your success.  You’ve made strides in your achievements just by running a business. If you haven’t reached your ideal level of success yet, that’s okay. Be sure to celebrate all that you’ve accomplished so far this year, anyway.    Use income dips as an opportunity for growth Instead of harping on income dips, use them as an opportunity to pivot your products, services, and marketing accordingly.  When you recognize patterns in your revenue, you can leverage them to help your business perform better over time. This may include adjusting your inventory, shifting your advertising, adding new services to your line-up, or subtracting ones that aren’t making sales.    Give yourself grace  Your financial mid-year review may feel daunting. If your review session is too overwhelming, give yourself permission to take a break. Your reports will be waiting for you when you’re ready to reconvene.  It can be challenging to separate your emotions from your income, but remember that money is never a measure of your self-worth.  If you’re unhappy with your mid-year review, give yourself grace. You now have the tools you need to put it on the track to success! 
    • Auto repair training provides individuals with the knowledge and skills to diagnose, maintain, and repair vehicles. It includes hands-on practice in areas such as engine repair, brake systems, electrical diagnostics, and more. Training programs, such as those offered at Bryan Garage, combine theoretical learning with practical experience, often preparing students for industry certifications. This training is essential for those pursuing careers in the automotive industry, ensuring they can effectively address a wide range of vehicle issues.
    • I group anything having to do with computers to run our business into one category.  Another category is the same thing having to do with the shop computers to fix vehicles. I used to break it all out and had a butt-load of different categories in my Chart of Accounts (COA) that after a few years grew and seemed to take on a life of its own.  After about 15 or 20 years, I had my COA list down to about 40 account categories.  It's really easy to break every little thing down to its own category.  I just got tired of all the account categories and the high likelihood of miscategorization it engendered. To me, a COA list is your own preference.  Some people like to know every little thing, and some do not, like me.  The only way you can get into any real trouble is from MISCATORIZING an expense or a Cost Of Goods Sold account. My acid test to answer the question of "Is it a COGS or is it an expense?" is this:  "If you didn't have a single customer and did no repairs for a month, would you still have that expenditure?"  You would have no parts, no labor, no towing, etc.  If the answer is "yes", it's an expense.  If the answer is "no" it's a COGS.  


×
×
  • Create New...