Does anyone do this for anything else but price increases.
Ask your Accounting Department to post journal entries to record the monthly parts adjustment, keeping your Parts Inventory value in sync with your General Ledger inventory value.
The Dealertrack DMS does NOT automatically create journal entries when the parts inventory is manually adjusted. The accounting office will need to create journal entries to increase or decrease the parts inventory value as appropriate. When the parts department manager adds or subtracts inventory quantity, the corresponding value must be adjusted, tracked, and properly logged to have accurate inventory quantities as well as accurate GL value. It is up to the Parts Manager and Controller (or Office Manager) to review the monthly adjustments, note if there are reoccurring issues causing discrepancies, and finally, reconcile the GL account following review. There should not be that many issues if human error is being addressed immediately.
If parts are 'missing' they need to be adjusted out in both in quantity and dollars; and if they are 'found' 2 months later they are adjusted back. If items are not placed on an invoice and are missing on regular basis, requiring adjustments, this needs to be addressed. This process should be an easy continuous monthly cycle to keep GL in sync with manual adjustments and a way to detect any error that occurs in the multitude of transactions in the parts department. A consistent monthly process will assist managers detect undue shrinkage, loss and other processing issues or errors that may be occurring. This regulars process helps deter falsifying inventory values, theft, and other deceptive practices.
Manual adjustments will ONLY affect your Parts Inventory Value. You must make accounting adjustments each month in order to have clean end of year audit.
It is highly recommended that accounting create a journal entry for recording manual adjustments. This will make it easier to track and find differences; this will allow team to address concerns as they occur each month rather than searching through 12 months of data at year end physical audit.