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Job Description: Controller/Accounting Manager
Sometimes, the Controller in a dealership is irreverently referred to as a “bean counter.” Unfortunately this derogatory term does not take into account the importance of their role in both the operation of the entire enterprise and its profitability. They can make your life difficult at times, but when successful help build the foundation for a healthy business that benefits all players.
So what is it that they do? Consider this model Job Description:
Job Summary:
The Controller/Accounting Manager is responsible for managing the financial operations of the dealership. This includes overseeing all accounting functions, maintaining accurate financial records, preparing financial statements, managing the budget, and ensuring compliance with all financial regulations.
The Controller/Accounting Manager will also play a critical role in developing strategies to improve the dealership’s financial health and will act as a key advisor to the management team on financial matters, process and expense efficiencies and inter-departmental coordination.
The Controller’s Key Responsibilities:
Financial Management and Reporting which includes:
Oversee the preparation and presentation of accurate and timely financial statements, including income statements, balance sheets, and cash flow statements.
Ensure all financial transactions are recorded accurately in accordance with Generally Accepted Accounting Principles.
Monitor cash flow and manage the dealership’s banking relationships.
Prepare and manage the dealership’s annual budget, including forecasting and variance analysis.
Ensure the dealership’s financial operations comply with all relevant laws and regulations, including tax obligations.
The Managing of Accounting Operations:
Supervise the day-to-day operations of the accounting department, including accounts payable, accounts receivable, payroll, and general ledger activities.
Implement and maintain robust internal controls to safeguard the dealership’s assets and ensure accurate financial reporting.
Manage the month-end and year-end closing processes, ensuring all deadlines are met.
Review and approve journal entries, reconciliations, and other financial documents prepared by the accounting staff.
Performing Audit and Compliance Oversight:
Coordinate and oversee internal and external audits, ensuring all documentation and records are available and accurate.
Ensure compliance with all federal, state, and local regulations concerning financial reporting and dealership operations.
Implement procedures to ensure compliance with Sarbanes-Oxley requirements, if applicable.
Preparing Financial Analysis and Strategy Reports:
Analyze financial data to identify trends, variances, and areas of concern; provide actionable insights and recommendations to management.
Develop financial models and forecasts to support strategic decision-making.
Participate in pricing strategy discussions and inventory management to optimize profitability.
Provide financial guidance on new business ventures, acquisitions, and other major initiatives.
Provides Team Leadership and Development:
Lead, mentor, and develop the accounting team, ensuring a high level of accuracy, productivity, and professional growth.
Conduct regular performance reviews and provide constructive feedback to accounting staff.
Facilitate training and development opportunities for the accounting team to keep up with industry trends and changes in regulations.
Maintain Current Knowledge of Technology and Process Improvements:
Evaluate and recommend financial and accounting software to enhance the efficiency and accuracy of financial operations.
Streamline accounting processes and procedures to improve efficiency and reduce errors.
Implement and manage a Dealer Management System (DMS) that integrates with accounting functions for seamless operations.
The Ideal Controller’s Qualifications:
Education: Bachelor’s degree in Accounting, Finance, or a related field. CPA certification not necessary but preferred.
Experience: Minimum of 5-7 years of accounting experience, preferably in a dealership environment, with at least 3 years in a supervisory role.
Technical Skills: Proficiency in accounting software (e.g., Reynolds and Reynolds, CDK Global), Microsoft Office Suite, and advanced Excel skills. Knowledge of GAAP and other relevant financial regulations.
Leadership Skills: Proven ability to lead, motivate, and develop a team. Strong interpersonal and communication skills, with the ability to work collaboratively across departments.
Analytical Skills: Strong analytical and problem-solving skills, with the ability to interpret complex financial data and provide actionable recommendations.
Attention to Detail: High level of accuracy and attention to detail in financial reporting and compliance matters.
Ethics: Strong ethical standards and integrity, with a commitment to maintaining confidentiality and upholding the dealership’s financial integrity.
Physical Requirements:
Ability to work under pressure and meet deadlines.
Work Environment:
The work is performed in an office setting generally within the dealership. The Controller/Accounting Manager will interact with all levels of dealership personnel, including department managers, sales staff, and the General Manager.
This job description outlines the essential functions and responsibilities of the Controller/Accounting Manager at a franchised new car dealership. The role is critical to the financial health and operational success of the dealership and requires a blend of technical accounting expertise, leadership skills, and strategic insight.
Clearly the Dealership Controller is much more than a “Bean Counter” and success in the position requires a person of superior knowledge and professionalism.
The above was adapted from a more detailed DealersEdge Guide – Accounting Guide for Dealership Controllers and General Managers.
A Comprehensive Automotive Accounting Guide Puts Facts, Processes and Tools Right At Your Fingertips!
This is your “Go To” Desk Reference for all questions related to dealership accounting functions, reporting and guide and to improved results! When questions surface you will have a ready reference to gather details and craft a plan of attack...
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