Integrated Accounting System

An integrated accounting system in a dealership is often part of the DMS that handles financial transactions and ledger postings automatically as deals and service transactions occur. Instead of manually entering data into an accounting program, the DMS’s accounting module records entries like vehicle sales, cost of goods sold (for the vehicle and any parts/labour), receivables, payables, etc., as a natural byproduct of the dealership’s operations. For example, when a car deal is finalized, the system posts the sale revenue, taxes, and inventory reduction in the accounting books. In Canada, the accounting system must handle taxes like GST/HST and PST appropriately depending on the province, and produce financial statements that comply with Canadian accounting standards. Because it’s integrated, the accounting is always up to date with the latest transactions (assuming deals are finalized properly), which helps in managing cash flow and financial reporting in real-time. It can also simplify compliance with audits or floorplan reconciliations by clearly tracking each unit’s cost and sale. A strong integrated accounting system reduces errors from double-entry and frees the accounting staff to focus on analysis and controls rather than data entry.