Report: Inventory value report on a specific date by location or categories

On the GEM-CAR main menu:

  • Go to REPORT > INVENTORY MANAGEMENT.
  • On the new window select Inventory value,
  • You can choose from a Location or a Category for a more specific report,
  • Or you can go directly to the bottom Option 2 - Date selection, for a complete inventory report,
  • Then enter your specific date,
  • Choose Transaction,
  • And click on the Printer.

 

 

  • From inventory management, click on the lined paper icon (under the printer).
  • In the list of transactions, click on the printer icon.
  • Select a location and a category.
  • Enter the date range.
  • Click on the printer icon to display the report.

Step 1: Creating Job Types and Departments

  • To create various Job Type,
  • Close the POS (Point of sale) window,
  • In the Main Menu, click on Configuration,
  • In the Configuration Sub-Menu, click Job Type Management,
  • Click on the Green Add (+) icon,
  • Fill a Description, Select or write in a Department name, Enter an appropriate GL account number and click Active,
  • Save and repeat as needed to create other Job Types,
  • Exit.

 

Step 2: Activating the Job Type Function

  • Back on the Main Menu, click on Configuration,
  • On the Configuration Sub-Menu, click on General Information,
  • Check option # 26,
  • Save and Exit.


Step 3: Assigning Jobs to specific Departments

  • Now open your POS (Point of Sale) window,
  • Press F1 to start a new estimate or job,
  • Enter a customer and his/her car,
  • Enter a job code,
  • On the Job Type scroll down menu, select the Department for this particular Job and Order.

Note: You can select a different Department for each individual Job you wish to build statistics on. 

 

Step 1: Printing out inventory report in GEM-CAR:

  • Go to the “Inventory management” / “Product/Job code management”.
  • Click on the printer.
  • In the bottom window,
  • Select the categories (do not select the service or labour categories)
  • Deactivate the instructions 
  • Choose quantities greater than “0”.


When: The last day of the month at the end of operations or the first morning of the month
(option: use a saved copy): Paid service by V2V
Who: Determine who will be responsible: Controller, Parts Director and Owner (in order of priority)
What: Inventory report with the inventoried categories.

Step 2: Print out a statement of the previous and current months
Retrieve the value of your inventory at the beginning of the month.  

Inventory adjustment    

  • Value at the beginning of the month: A (inventory value in your statement)
  • Value at the end of the month: B (GEM-CAR report)
  • Inventory variation C: B-A



E.g.: Starting inventory 30,000, GEM-CAR inventory 100,000, Variation 70,000        

GL Accounting Transaction

  • 1535 parts in inventory     70 0000          CREDIT     
  • 5020 cost of merchandise    DEBIT            70 0000

 
Cost of merchandise sold:

  • Parts sales: D
  • Parts purchases: E    
  • Inventory variation: F    
  • Cost of parts sold G: E - F

   
E.g.:  D: 230,000, E: 240,000, F: 70,000, G: 170,000 

  • Profit on parts:  230,000 – 170,000 = 60,000
  • Profit margin: 60,000 / 230,000 = 26.1% (what margin should I have on my parts? FAQ )


Adjustment of core values:

  • Go to the PDV and click the button "Old Core".
  • When: End of the month
  • Validation of credit entries
  • Deletion of cores with credit memo

?
Note:

  • Send cores and credit entries of cores via Purchasing Dep (it is up to you to decide who is responsible)
  • The non-credited cores must be deducted from the cost of merchandise sold

 

Transaction of expected core credit:

Core GL transaction
YYYY expected credit             DEBIT            X
5020 cost of merchandise          X           CREDIT