BUMP THE COMP

[TimK]

In this instance you are selling below cost and GM is going to pay you $54.49 of profit plus $5.29 (the amount you sold below cost).

I guess it's up to you if it's worth it or not.

We have a body shop in house and it makes sense for us to use it.

[LOWAIRD1964]

Thanks for your input Tim, can I ask how you break it down at your dealership?

There are a lot of mixed feelings I guess you can say on where or to which accounts gets the credits.

I also didn't realize that GM gives us back the difference from the amount we sold below cost, I was just assuming you had to take that out of the credit when they give it back to you.

[drapp]

As you said there are several ways to handle this program internally. Many office managers would not agree with the way we do it but we do it as follows using your example part number of 20983229.

We would sell this part to our wholesale customer at $383.91.
This amount is determined by taking the aftermarket price (from GMLAM website - not the body shop estimate) x 67% which equals the lowest possible price allowed by the program (383.91).

The cost of the part - on OUR invoice - would be $329.42. We do not show a loss on the parts invoice.
GM Cost 389.20 - (total claim amount) 59.78 = 329.42
When the credit invoice from GM comes in we credit account 242.
Any outstanding Conquest claim is treated like any other outstanding parts claim.
We also put a comment on each conquest part number on the invoice. The comment includes the conquest claim number.

Make certain you have enough necessary funds to cover your claims.

As for handling the part sale if it is your body shop - everything remains the same except your selling price on the repair order is the aftermarket price as shown on GMLAM (or less, if you choose - NEVER MORE). Theoretically, you are selling the part to your body shop at the reduced "wholesale" price and they are selling to the insurance company / customer at the reduced conquest price. In this situation you really don't have a document showing that you "sold" it for 383.91 but GM understands this and will accept the reduced selling price on the repair order as documentation.

Hopefully, this explains what we do. Yes it is time consuming. Especially for those of us without Collision Link and having to deal with MPL. But it is what it is for now.

[bluepart]

And,, All claim files must be retained for 7 Years for audit purposes.

[LOWAIRD1964]

Anyone using coupons to reduce the cost on the invoice. That is how my controller wants to do it but I thought I read somewhere that you MUST sell at the reduced price right on the invoice.

[MultiLineManager]

CollisionLink Training is available at

http://cbt.oeconnectionDOTcom/cl_program/cl_program.htm

[camaroman]

I am looking over the 2017 program and there is a line that I do not understand. Anyone know what a Non Insurer estimate means?
[u]
Funds can be used by Dealers for "conquest" sales only. A NON-INSURER estimate originally written for an aftermarket, salvage or alternative part is required.
[/u]

[bigmac]

That would be a customer pay rather than an insurance estimate.

[possum]

I would take that to mean that the estimate has to be on the Body Shop's version of the estimate or work order. All of ours come to us with the Repair shop's name on it, not "State Farm"

[MultiLineManager]

Just a note for forum friends. Anyone using BTC should take a close look on how much they have in Conquest finds on LAM. The new 2017 bulletin came out and they have changed the funding for next year. The jump start and bonus funds are the same but they dropped the accrual from 1% to .5%.

For 2016 I have a large surplus, if I do everything exactly the same in 2017 I should run out of funds in November.