Omoda & Jaecoo Melrose Arch doing well - Digi Cars Group
The Digi Cars Group opened an Omoda & Jaecoo dealership in Melrose Arch as part of the group’s expansion plans to increase its dealership range.
- Dealer News
- 6 March 2025
OPINION PIECE: I am sure that you are familiar with the old saying – “the job is not finished before the paperwork is done”. This can apply to many situations, some more humorous than others.
It is certainly very applicable to the accuracy of the financial statements for your business. “Profit and Loss” (P&L) cannot be accurately stated unless the balance sheet reconciliations have been performed AND the reconciling items analysed to ensure that they will not potentially have an effect on the P&L in the future.
Unfortunately, laborious tasks like this take time if done properly but the benefits are that you should no longer be on the receiving end of as many horrible surprises. In many instances, the financial staff perform the reconciliation and if it balances, it is a job well done. Boxes are ticked and everyone is happy.
I have seen so many instances of balanced recons not being reviewed by general management. The reconciling items are really where the rubber hits the road and, in most instances, the more reconciling items there are, the more it shows that processes are not working as they should. Reconciling items are often the result of a poor process somewhere.
Obviously, there are many instances where reconciling items are necessary, and these are mainly as a result of timing differences (bank recons, debtors and creditors recons etc). Additionally, older items are usually far riskier and should be given the necessary attention.
Long recons take time, and if reconciling items are kept to a minimum, they will take less time, which means that your financial staff can be more productive and spend time being proactive instead of reactive. Clean and accurate recons are one of the signs of a well-run and efficient business.
Be sure to make “recon reviews” a permanent item on your “to do” list.
The Digi Cars Group opened an Omoda & Jaecoo dealership in Melrose Arch as part of the group’s expansion plans to increase its dealership range.
Mahindra South Africa is starting its third decade in South Africa with a bang.
After a 4-month journey covering more than 16 000km from Morocco to South Africa, the four fully-electric Citroën Amis, La Croisière Verte (Green cruise), have successfully completed their expedition, proving the feasibility of micro-mobility and electrification across diverse terrains.
Advertisement
Advertisement
I always do like seeing other people dance in their cars. It's one of the things that makes me happy.
Ariel Gore
The Digi Cars Group opened an Omoda & Jaecoo dealership in Melrose Arch as part of the group’s expansion plans to increase its dealership range.
If treated as a cost, it simply flows through the income statement and once expensed, it generally is forgotten about after the month in which it is expensed. From a tax and accounting perspective it is processed as an expense and when one needs to cut expenses, it is often one of the first expenses to be reduced.
“And for now it may be the first, but not the last time…” Well, this ‘statement of intent’ from Luke Dreyer (Dealer Principal at BMW Midrand) during an interview with Dealerfloor last year, proves to be spot on.