LBMC LIFO Software for Automotive Dealerships

LBMC LIFO Solutions offers LIFO software, accounting software for automotive dealerships written with the CPA in mind.

Automotive Dealership LIFO Software for CPAs

Our LIFO calculation software offers an easy-to-use data interface and comprehensive vehicle databases for new and used vehicles. The software accumulates cost data for all eligible vehicles manufactured and available for sale at automotive dealerships and allows users to capture the cost data relevant to the inventory held at the dealership’s fiscal year-end. It also uses Microsoft Excel® based reporting results allowing for easy integration with your accounting software, such as Reynolds & Reynolds, ADP or QuickBooks. It’s an efficient, accurate and cost-effective software solution for automotive dealership LIFO calculations.

Automotive Dealership LIFO Software Features

  • Website software downloads to instantly capture updates
  • Server or stand-alone PC based application provides for multiple or single users
  • Data e-mail feature enables remote users to quickly access the same dealership file
  • Microsoft Excel® based reporting allows for:
    • Easy report file transfer between applications
    • Report modification and customization
    • Linking into paperless accounting file software
  • Adjustment fields to provide entry for:
    • Inventory write-ups and write-downs
    • Manufacturer floor plan and advertising assistance
    • Other custom field option
  • Estimation tool for year-end allows multiple inventory scenarios:
    • Same inventory mix from prior period
    • Specific amounts for cars and trucks by manufacturer
    • Specific amounts by model line
  • Calculations available for changes in year-end or reserve recapture
  • Data import feature available

Automotive Dealership LIFO Software Pricing

  • Cost is based on the number of calculations to minimize cost
  • Price includes access to entire vehicle database, reports and estimate calculations
  • No set-up or additional fees
  • Single year contract

Converting to LBMC LIFO software is fast and easy. All that is required is entering the LIFO layer history and the average base costs for the previous year.

Technical Assistance / Support

LBMC LIFO Solutions was written by certified information systems professionals at LBMC Technology Solutions, LLC. If you need assistance with the software, we are available via e-mail at info@lbmc.com or by telephone at 615-377-4600.

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The AutoCPA Group

The AutoCPA Group is a national association of Certified Public Accounting firms – each specializing in providing accounting and consulting services to automobile dealers. Our networking with this Group allows us to provide you, our client, with the resources of over twenty-five CPA firms serving over 1,800 dealership clients nationwide. The collective efforts of these firms keep you on the leading edge of industry developments, tax issues, best dealership practices and business solutions.

LBMC’s Dealership Services Group continually enhances our expertise through national groups, trade organizations, industry conferences, and the continued professional education of our team ensure our clients of working with a firm that is committed to the understanding and success of their organization.

We are frequent speakers at organizational meetings, as well as sponsor seminars for dealers and office management personnel. We also stay actively involved with the dealership industry through our affiliation with the Tennessee Automotive Association, the Nashville Franchise Auto Dealers Association and the Automotive Data Accounting Professionals of Tennessee. Our automotive specialists often speak at organizational meetings as well as sponsor seminars for dealers and office management personnel.