17 Feb Causes of Errors in Parts & Accessories Inventory in CDK LighspeedEvo
Many powersports, marine, and RV dealerships across the country rely on CDK LightspeedEvo for their bookkeeping and inventory management needs. This software is specifically designed for these industries and provides niche features that make these tasks simpler for these businesses. But even with the best software, errors can occur. At this time of year, many businesses are going through their books and trying to pinpoint the sources of bookkeeping errors.
If you’re noticing something amiss in your parts and accessories inventory inside the CDK LightspeedEvo software, we may be able to help. As the only accounting firm in the nation directly trained by CDK on the LightspeedEvo system, we have knowledge and experience unique to your industry that no other accountant can offer. Based on our experience, here are a few of the most common causes of errors in parts and accessories inventory within CDK LightspeedEvo:
- General Ledger entries have not been made for parts inventory adjustments.
- Parts are received, but the packing slip and vendor invoice don’t match.
- General journal entries made into parts inventory.
- Accounts Payable invoices entered directly into parts inventory.
If you’re seeing errors or imbalances in the parts and accessories inventory within CDK LightspeedEvo, but you’re struggling to find the sources of the errors, contact The Accounting Guys. We’re the only CDK LightspeedEvo-trained accountants in the country. We know the software, we know your industry, and we know how to get things back in order so that your books are accurate and can help your business grow. Contact our accounting firm for help with CDK LightspeedEVo today.
Katie C
Posted at 14:15h, 07 NovemberI was taught at a previous dealership to do inventory updating through the inventory count sheets tab, however, the new dealership I’m at has not done it that way before. We are now getting an accounting error and I’m not sure what the issue is since I didn’t learn the accounting side at the last dealership. Is this something you can help with?