Parts Inventory – How Often; Part 2

More progressive dealers and Parts Managers not only count parts inventory annually, but also, they do Parts Inventory Reconciliation Monthly just after the month rolls over. The Inventory Reconciliation is no different than an annual Physical Parts Inventory Reconciliation, except the parts are not physically counted just before hand. Dealers who are this progressive are …

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Parts Inventory – How Often

Parts Inventory needs to be counted annually…at a bare minimum. Typically, you’d want to count it just before your year-end, after a physical inventory count. You’ll need to do Inventory Reconciliation, where Parts Inventory is itemized line by line (Dollars On-Hand, Work In Process, etc), and then matched next to Accounting Parts Inventory line by …

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DMS Parts Inventory – Maybe Considered The 3rd Parts Inventory?

In the last post we talked about how there’s two parts inventories; Physical and Accounting. Another inventory that exists, and needs to match your physical counts, is the DMS parts inventory. Yes, DMS parts inventory “showing” reflects the physical inventory, but still yet, you need to match DMS parts inventory AND physical inventory together, before …

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