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Flashcards in Business Management Deck (42)
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1
Q

What are the chargeback procedure and credit card authorization time limits?

A

Credit card authorizations are only for 30 days. If we get a chargeback-we need a copy of the contract to fight it. We are subject to chargebacks if we charge the credit card after the 30-day authorization time. This is why rewrites are important.

2
Q

What do you do when a credit card won’t swipe?

A

Call in authorization w/ merchant phone number and get authorization number once verified

3
Q

What do you do if a credit card declines?

A

Once you get a credit card declined- you must get a new form of payment or we are subject to a chargeback

4
Q

What are the collection terms that Enterprise gives to its direct bill accounts?

A

90 days to pay

We want them to pay in Net 30

5
Q

How to read, understand, and work the A/R list?

A

If you are working the A/R list, you want to work them in this order

  1. 90 days
  2. 60 day cash
  3. Credit card section (CC/Amex/Discover). Debits (+ sign) in the credit card section=bad debt
  4. Credits (-sign)
  5. Short Pays
6
Q

What does (-) mean on the A/R report?

A

(-)=Credit: overpaid by account or customer

7
Q

What does the (+) mean on the A/R report?

A

(+) = Debit: money owed to us

8
Q

What are the steps to proper underwriting?

A
  1. 2 Phone #’s- one has to be a local contact
  2. Make sure Driver’s License and Credit Card match
  3. Fill out a Cash Qual form
  4. Verify all info on Cash Qual form
  5. Use of correct DW price according to MSRP (manufacture sales retail price)
  6. Correct deposit amounts

Cannot use Unemployment Pay stub for Cash Qual form. Unemployment is a CA State benefit and benefits can change.

Take copy of insurance card just in case something occurs. Call to check to make sure claim is active.

9
Q

What are the AA0090 and AA0010 screen and what are they for?

A

AA0090= used to look up individual invoice/tickets

AA0010=used to look up all tickets/invoices for specific amount for whole group

10
Q

How do you look up A/R in AA0090 screen?

A

23……….…………..D……….…….95
| | | |
GP Cust # Ticket# Branch

Customer # must have 7 spaces

11
Q

What is AA0111 screen and what is it for?

A

Used to look up all tickets/invoices for account for specific branch

12
Q

What is CD?

A

Cash disbursement

It means that we disbursed $ or refunded customer

13
Q

What is JV?

A

Journal Voucher
It’s what we use to move money around and it’s how we move money around. (Example: If we CD’d/refunded a customer because MBENZ was supposed to pay for bill and we billed customer. We now must create a JV to bill that amount we CD’d to MBENZ

14
Q

What is CR?

A

Cash Received

15
Q

What is GE?

A

General Entry

Money has been entered in system

16
Q

What is DP?

A

Data Processing

2x a month RALPH auto updates and matches #’s

17
Q

What is the difference between collections and clean up?

A

Collections= collecting cash

Clean up= working short pays, credits, and JV’s

18
Q

How do you send someone to collections? Why and when?

A

Send them to collections
They must owe more than $150 and have been non responsive
Collections get 30%
We must have all callback notes and contract in order to do so

19
Q

What does it mean when the Customer Warning Screen pops up?

A

Can’t rent to customers under this screen

Only level 3 employees can override because they have access to notes and can see exactly why customer is on DNR

20
Q

What is Net 30?

A

Any invoice that closes in May after that month ends they have 30 days from that point to pay. So for example the end of June is when they would pay.

21
Q

What is 60-day cash?

A

After customer can’t pay we give them 60 days to pay.

22
Q

What is the account number for Time and Miles?

A

1480

23
Q

What is the account number for Bad Debt?

A

0590

24
Q

What is the account number for Mexican Insurance (Insurance for people traveling to Mexico)?

A

1382

25
Q

What is the account number for Accounts Receivable?

A

2200

26
Q

What is the account number for Gas Collections?

A

1488

27
Q

What is the account number for Cash Over/Short?

A

0805

28
Q

What is the account number for Deductible Collection?

A

2263

29
Q

What is the account number for CDW?

A

1482

30
Q

What is the account number for PAI?

A

1486

31
Q

What is the account number for SLP?

A

1496

32
Q

What is the account number for Customer Satisfaction?

A

0531

33
Q

What is the account number for Referral Expense?

A

0535

34
Q

What is the account number for Reserves?

A

3452

35
Q

What is the account number for Uninsured Loss?

A

0557

36
Q

Explain the difference between risk units and buybacks?

A

• Risk
o Vehicle totally responsible for when sell
o Risk is better than buyback

•	Buyback
o	Percentage of price going to sell car back
o	Vehicle has to be within certain miles
o	Do not make a lot of FLIP
o	If wreck car, can not turn in car
37
Q

Why would someone reject a buyback?

A
  • Damage
  • Mileage
  • Time
  • Too many repairs
38
Q

What are expenses?

A

Personnel expenses and operating expenses

39
Q

Name in order left to right the financial statement

A
# of Units
% DE
DE Growth
C&I Revenue
Net Other
Total Revenue
Gross Costs
Personnel Expense
Operating Expense
Branch Overhead
Group Overhead
Corporate Overhead
Breakeven
Operating Profit
Vehicle Adjustment
Net Profit
3 month ESQI
12 month ESQI

(Helpful Tip to Remember: #% DCN TGP OBGC BOVN)

40
Q

How do AM’s get paid?

A

Hourly/OT/OT premium/Commission
The commission is a % of the profit. Depending on what the goal is the % can be lower or higher on pay plan in order to get you to X salary. If profit is beating #’s your pay plan grows. If it is meeting #’s your at your goal. If it is under #’s you get paid lower.

Net Profit x # of units x %= Paycheck

41
Q

How can you make more money as an AM?

A
  • Boost Net Profit
  • Control Cost (Ex. Personnel)
  • Grow Fleet
42
Q

How is the Per Unit Analysis organized?

A
Income 
Cost 
Expense 
Overhead 
Profit