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Hunt explores the crucial differences between shop management software and QuickBooks, focusing on the impact on parts margin. This episode is a must-listen for shop owners and financial managers seeking clarity and efficiency in their business operations.

• Dual Bookkeeping Explained: Unravel the reasons behind running two sets of books and its effect on your financials.

• Real-Life Client Case: Learn from a client's experience with discrepancies in parts margin between shop management systems and QuickBooks.

• Strategies for Financial Accuracy: Gain insights into aligning financial data across platforms for precise tracking and profitability.

Thanks to our partners, NAPA TRACS and Promotive

Did you know that NAPA TRACS has onsite training plus six days a week support?

It all starts when a local representative meets with you to learn about your business and how you run it.  After all, it's your shop, so it's your choice.

Let us prove to you that Tracs is the single best shop management system in the business.  Find NAPA TRACS on the Web at NAPATRACS.com

 

It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.

 

Paar Melis and Associates – Accountants Specializing in Automotive Repair

Visit us Online: www.paarmelis.com

Email Hunt: [email protected]

Get a copy of my Book: Download Here

Aftermarket Radio Network

Click to go to the Podcast on Remarkable Results Radio

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  • Have you checked out Joe's Latest Blog?

         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.
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    • By carmcapriotto
      Thanks to our Partners, NAPA TRACS, and Today's Class The "Great Correction" refers to a shift in the industry after a period of relative ease, likely due to pandemic related factors. The key concerns include a decrease in online searches for auto repair, rising costs, increased competition from dealerships, labor shortages, rapid advancements in technology (EVs, ADAS, AI), and the need to explore new revenue opportunities like key services, ADAS calibration, tires, and truck repairs. These issues suggest that the strategies that worked in the past may no longer be effective. Ryan Daily, Business Coach, The Institute Wayne Marshall, Business Coach, The Institute Fred Hule II, Business Coach, The Institute Show Notes Watch Full Video Episode Introduction of Guests (00:00:00) Market Challenges (00:02:14) Customer Education Importance (00:04:01) Effective Communication (00:05:16) Listening to Customers (00:06:49) Value of Language in Services (00:08:34) Customer Trust and Attrition (00:09:21) New Car Sales Impact (00:10:20) Facility Appeal (00:12:26) Investing in Facilities (00:14:09) Profitability Challenges (00:15:17) Mindset Shift in Shop Owners (00:16:16) Value Proposition Discussion (00:17:21) Continuous Improvement in Service (00:18:03) Understanding Profit Targets (00:18:49) Shop Management Systems (00:19:51) Training Service Advisors (00:21:06). Proper Vehicle Inspections (00:22:01) Communication with Customers (00:28:15) Follow  Up Strategies (00:29:45) Educating Customers on Maintenance (00:32:15) Company Culture and Staff Engagement (00:34:02) Understanding Expectations (00:35:59) Customer Engagement (00:36:55) Cultural Impact (00:37:36) Continuous Education (00:39:30) Investment in Staff (00:40:36) Onboarding Process (00:42:33) Industry Transformation (00:44:38) Adapting to Change (00:46:31)
      Thanks to our Partner, NAPA TRACS NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/ Thanks to our Partner, Today's Class Optimize training with Today's Class: In just 5 minutes daily, boost knowledge retention and improve team performance. Find Today's Class on the web at https://www.todaysclass.com/ Connect with the Podcast: -The Aftermarket Radio Network: https://aftermarketradionetwork.com -Follow on Facebook: https://www.facebook.com/RemarkableResultsRadioPodcast/ -Join Our Private Facebook Community: https://www.facebook.com/groups/1734687266778976 -Join Our Virtual Toastmasters Club: https://remarkableresults.biz/toastmasters -Subscribe on YouTube: https://www.youtube.com/carmcapriotto -Follow on LinkedIn: https://www.linkedin.com/in/carmcapriotto/ -Follow on Instagram: https://www.instagram.com/remarkableresultsradiopodcast/ -Follow on X: https://twitter.com/RResultsBiz -Visit the Website: https://remarkableresults.biz/ -Join our Insider List: https://remarkableresults.biz/insider -All books mentioned on our podcasts: https://remarkableresults.biz/books -Our Classroom page for personal or team learning: https://remarkableresults.biz/classroom -Buy Me a Coffee: https://www.buymeacoffee.com/carm -Special episode collections: https://remarkableresults.biz/collections The Aftermarket Radio Network: https://aftermarketradionetwork.com/ Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/ Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/ Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/ The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/ The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching. https://chriscotton.captivate.fm/ Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/
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      Hello everyone,
       
       Currently we use RO Writer and Auto Vitals to manage our shop workflow. It works out very well overall, but I'm looking for a way to keep track of daily/weekly shop numbers in a clean and easy to read format. We found it difficult to get clear numbers in RO writer, and use the punch in/out feature in Auto Vitals for time keeping (which limits our reporting features in RO writer). I'm looking for other shop owners who use this combination to tell me they way they keep track of their daily/weekly numbers, such as technician hours worked/billed, comebacks, declined work, sold recommended (and develop a ratio from declined work/sold recommended).
       
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      The Weekly Blitz is brought to you by our friends over at Shop Marketing Pros. If you want to take your shop to the next level, you need great marketing. Shop Marketing Pros does top-tier marketing for top-tier shops.
      Click here to learn more about Top Tier Marketing by Shop Marketing Pros and schedule a demo: https://shopmarketingpros.com/chris/
      Check out their podcast here: https://autorepairmarketing.captivate.fm/
      If you would like to join their private facebook group go here: https://www.facebook.com/groups/autorepairmarketingmastermind
      In the 200th episode of "The Weekly Blitz," Coach Chris Cotton marks a significant milestone for the podcast by taking a moment to reflect on the journey over the past year. He shares personal anecdotes that resonate with the audience, including a heartfelt update on Kimberly, who made the selfless decision to donate a kidney to her brother, highlighting the profound impact of family and generosity.
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      #autofixautoshopcoaching #autofixbeautofixing #autoshopprofits #autoshopprofit #autoshopprofitsfirst #autoshopleadership #autoshopmanagement #autorepairshopcoaching #autorepairshopconsulting #autorepairshoptraining #autorepairshop #autorepair #serviceadvisor #serviceadvisorefficiency #autorepairshopmarketing #theweeklyblitz #autofix #shopmarketingpros #autofixautoshopcoachingbook
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    • By nptrb
      As we kick off 2025, it’s a great time for you, an auto repair shop owner, to focus on financial organization, especially with tax season just around the corner. 
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      In this blog post, we guide you through organizing your financial records for a smooth and efficient tax filing process so you can avoid the stress this season.
       
      Why Organization Matters 
      Disorganized financial records can lead to several problems: missed deductions, inaccurate tax filings, potential audits, and, worst of all, wasted time. 
      By implementing a clear and streamlined system, you can avoid these tax dangers and, in turn, have a clearer picture of your shop’s financial health.
       
      Key Financial Records to Maintain 
      Several crucial documents form the foundation of your financial records.
       
      Sales Invoices
      Sales invoices include the details of every transaction with your customers, including parts sold, services performed, and payment methods. 
      Each invoice should be numbered sequentially and include the customer’s information, date of service, and a detailed description of the work done.
       
      Purchase Invoices
      Purchase invoices include your expenses, including parts, supplies, equipment, and other business-related purchases. 
      It’s best practice to keep all invoices and receipts organized by vendor and date.
       
      Bank Statements 
      Bank statements provide a record of all transactions that pass through your business bank accounts, including deposits, withdrawals, and electronic transfers. 
      Remember to reconcile your bank statements regularly to ensure accuracy.
       
      Credit Card Statements 
      Credit card statements document all credit card transactions and should be kept organized and reconciled with all of your other internal records.
       
      Payroll Records
      Payroll records are crucial for tax compliance and include employee wages, salaries, taxes withheld, and other payroll-related information.
       
      Inventory Records 
      These are essential for calculating your Cost of Goods Sold (COGS). This includes tracking the purchase, sale, and remaining stock of parts and supplies.
       
      Fixed Asset Records 
      Fixed Asset Records document the purchase and depreciation of long-term assets such as equipment, vehicles, and building improvements.
       
      Organization Strategies
      We recommend several practical steps for organizing your financial records. These strategies should be implemented year-round so tax season is simplified every year!
       
      Separating your business and personal finances is crucial. Maintain separate bank accounts and credit cards for business and personal expenses to simplify tracking and prevent confusion during tax season.
      Accounting software like Quickbooks Online can automate many bookkeeping tasks, generate reports, and simplify tax preparation. Establish a consistent filing system, whether you prefer physical or digital files. 
      For physical files, use labeled folders organized by category (e.g., sales invoices, purchase invoices, bank statements). 
      For digital files, create folders on your computer or in a cloud storage service and use clear file names. Pro tip:  If you receive physical documents, scan them and save them digitally to create a backup and make it easier to search for specific documents. 
      Regularly reconciling your bank and credit card statements monthly can help identify any discrepancies and ensure accuracy. 
      Finally, the IRS generally requires you to keep business records for at least three years from the date you filed your original return. However, some records, such as those related to asset purchases, should be kept for longer.
       
      Benefits of Organized Records
      Organized financial records offer numerous benefits beyond tax preparation. By tracking your income and expenses, you can better manage your cash flow and identify potential cash shortages. Accurate financial information provides insights into your business’s profitability and helps you make informed decisions about pricing, inventory, and investments. In the event of an audit, well-organized records will make the process much smoother and less stressful.
       
      Implementing these strategies can streamline your financial record-keeping, simplify tax filing, and truly understand your repair shop’s financial health. 
      Remember, consistent effort throughout the year is key to maintaining organized records and reaping their many benefits.


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