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When you own a car dealership, you quickly realize the amount of work it takes to keep the business side up and running.
Auto dealer accounting software allows dealerships to easily keep track of inventory, monitor budgets in every area of their business, generate spending reports, store and organize customer information, run credit reports, and more.
Utilizing the benefits accounting software brings allows auto dealers to focus more on their work and less on crunching numbers.
So, what are a few of the best accounting software programs for auto dealers? Read on to find out.
Top 5 Accounting Software For Auto Dealers
| Brand | Starting price | Best for |
|---|---|---|
| 1. Frazer | $85 – $175.00/month | Used auto dealers |
| 2. Xero | $12 – $65.00/month | Cloud-hosted accounting |
| 3. Dealertrack DMS | $135.00/month | Overall |
| 4. CAMS DMS | Contact CAMS | Growing auto dealers |
| 5. DealerCenter | $40 – $75.00/month | Independent auto dealers |
1. Frazer: Best Accounting Software For Used Auto Dealers
PRICING:
- Free trial: 30 days
- Desktop: $85.00 / per month
- Hosted: $175.00 / per month
Frazer is known for their all in one platform enabling both used and new car dealerships to manage business transactions, increase customer communication, handle marketing tasks, and more, all within a single app. Their inventory module is packed with tools to keep up to date information on cars coming and going from within the business.
KEY FEATURES:
- Accounting
- Inventory Tracking
- Communication management
- Analytics
- Custom reports
- Document organization
- Website integration
- Financing management
REASONS TO BUY:
- Stellar customer service
- Can be used by both new and used car dealerships
- Easy to use platform
- Most “bang for your buck”
REASONS TO AVOID:
- Updates can cause glitches
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2. Xero: Best Cloud-Hosted Accounting Software For Auto Dealers
PRICING:
- Early: $12.00 / per month
- Growing: $34.00 / per month
- Established: $65.00 / per month
Xero is an award winning cloud hosted accounting platform aimed at helping small businesses manage their finances, inventory, and data analytics. The best part of using Xero is the ability to log in anytime, anywhere, as long as an internet connection is available. This allows sales representatives to collaborate easily in one place.
KEY FEATURES:
- Billing and invoicing
- “What If” scenarios
- Asset accounting
- Asset tracking
- Budgeting tools
- Client portal
- Quotes/ Estimates
- Inventory management
- Fraud detection
- Product identification
REASONS TO BUY:
- Extremely easy to use
- Simple onboarding process
- Real time ability to track and manage expenses
- Thousands of five star reviews
REASONS TO AVOID:
- Customer service doesn’t fix problems in a timely manner
- Large invoices are unable to be edited
- No group reconciliation
3. Dealertrack DMS: Best Accounting Software For Auto Dealers Overall
PRICING:
- $135.00 / per month
Dealertrack is an auto-specific accounting software designed to help businesses manage customer contact information, track rental inventory, and create custom inventory bases for team members. Dealertrack has the expertise, and the platform to show it. Used by both large and small auto dealerships, they really are the whole package.
KEY FEATURES:
- Inventory management
- Real time reporting
- Sales reports
- Finance management
- Document organization
- Customer information storage
- Website integration
- Quotes/Estimates
- Lease Tracking
- Forecasting Tools
REASONS TO BUY:
- Auto dealership specific
- Highly recommended customer service
- Communicate with lenders directly from site
- No long term contracts
REASONS TO AVOID:
- No API’s
- No customization
- Can be very slow
- Can be difficult for some users
- Limited internal capabilities
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4. CAMS DMS: Best Accounting Software For Auto Dealers That Are Aiming To Grow
PRICING:
- Pricing information not available, contact CAMS DMS for more information.
CAMS DMS is a cloud hosted auto dealership accounting software that enables businesses to manage their sales, order parts, and request service, all in one centralized location. Not only does CAMS DMS help small businesses with everyday tasks, but they are also scalable to accommodate any larger business needs.
KEY FEATURES:
- Accounting
- Appointment scheduling
- Expense management
- Alerts and notifications
- Lease tracking
- Invoice Processing
- Labor Rates
- Invoice Management
- Cost Tracking
- Billing tools
- Employee scheduling
- Client information management
- VIN decoder
- Service scheduling
REASONS TO BUY:
- An extensive list of features
- Very happy past customers
- Easy to use interface
- Helpful customer service
- Scalability
REASONS TO AVOID:
- Learning curve
- Not as aesthetic as competitors
5. DealerCenter: Best Accounting Software For Independent Auto Dealers
PRICING:
- MONTHLY PRICED SUBSCRIPTION PACKAGES:
- Dealer Management Systems (DMS)
- FAST DMS: $60.00
- CRM: $65.00
- Buy Here Pay Here: $ 50.00
- Quickbooks: $40.00
- Online Marketing:
- Dealer Website: $75.00
- Online Ad Post: $25.00
- Vehicle Booking Services:
- J.D Power Values Desktop: $60.00
- Kelley Blue Book: $40.00
- Black Book: $40.00
- Dealer Management Systems (DMS)
DealerCenter is another cloud based auto vehicle management system, but this time, DealerCenter focuses more towards independent used and new automobile dealerships. With their monthly subscription plans, auto dealerships only pay for what they need. This allows teams to access both data and customer information anytime anywhere.
KEY FEATURES:
- Financing management
- Inventory management and tracking
- Lead management
- Mobile access
- QuickBooks integration
- Reporting and analytics
- Sales floor management
- Customer database
- Sales reports
- Search and Filter
- Third-Party integrations
- Website Integration
- Website Management
REASONS TO BUY:
- Easy to use
- Ready to help customer service
- Long list of available features
REASONS TO AVOID:
- Some mobile app issues
- Limitations on importing data
- Inability to jump between mobile and desktop in real-time
Frequently Asked Questions:
What Does An Automotive Accountant Do?
An automotive accountant works within a dealership to provide valuable insight, data, inventory tracking, customer organization, and vehicle accounting information for businesses. Most often, you can find an automotive accountant in their office, spending their time analyzing data and overlooking financial accounts to ensure accuracy.
What Is DMS In a Car Dealership?
DMS stands for Dealer Management System. This is a powerful tool utilized by nearly every automotive dealership. It allows businesses to run their dealership smoothly with accurate up to date information on all the workings going on behind the scenes.
What Inventory Method Do Car Dealerships Use?
LIFO or, Last In First Out is the method used by nearly every car dealership that simply means the last product placed in inventory is the first to be sold. This method is used to match cost and revenue figures evenly as well as cover material costs. The United States uses this practice more than any other country.