Complete the instructions in the 2009 Financial Statement Changes for Kia document before producing your January 2009 Financial Statement.

Transcription

1 ADP, Inc. Dealer Services 5607 New King Street Troy, MI Financial Statement Changes Kia February 2009 Dear Accounting Customer: There have been several changes requested by Kia for the 2009 financial reporting year. These changes will affect the standard base files supported by ADP Please refer to the instructions in your Updating the Financial Statements user manual to complete the changes. Contents of this Document 2009 Financial Statement Changes for Kia Manual Entry Worksheet A copy of the 2009 Kia Chart of Accounts A copy of the standard 2009 Financial Statement with column assignments for this franchise Special Instructions All DMS@NET clients will have the new 2009 Financial Statement Files sent via Electronic Object Distribution (EOD). After the last 2008 financial statement is completed, you can apply the 2009 financial statement files (Select Apply Manufacturer Financial Updates from the Factory Financials Menu). Complete the instructions in the 2009 Financial Statement Changes for Kia document before producing your January 2009 Financial Statement. You can print a list of the manufacturer s standard financial statement account assignments from the Factory Financials Menu (select Update Account Assignments). If you have questions about the information in this packet, please call the ADP Customer Support Center at , weekdays 7 a.m. to 9 p.m., and Saturday 9 a.m. to 9 p.m. (EST). Sincerely, ADP Customer Support Center The ADP logo is a registered trademark of ADP of North America, Inc. B20551 January 2009 ADP, Inc. Printed in U.S.A. 1 of 17 *303678* January 6, 2009

2 Kia 2009 Financial Statement Changes 2009 KIA FINANCIAL STATEMENT CHANGES The following charts list the procedures you must follow and the accounting changes you must make for your 2009 Kia franchise financial statement reporting. Refer to the Updating the Financial Statement manual for the instructions to perform each procedure. If you have any questions about the financial statement changes, please call the ADP Customer Support Center at Perform the Financial Statements Update Procedures in the order they appear below and on the following pages before producing your January financial statement. Financial Statement Update Procedures Update the Chart of Accounts (from the General Ledger Maintenance Menu GLM06 option 1) Accounting Changes Add the following accounts. Account Description 2404 CPO Inventory Update the Chart of Accounts (from the General Ledger Maintenance Menu GLM06 option 1) Change the following account. Account Description 4011/6011 Sales/Cost of Sales New Vehicle Kia Soul - Retail Update the Table of Scheduled Accounts(from the General Ledger Maintenance Menu GLM06 option 8) Review your table of scheduled accounts and make any changes appropriate for your dealership. Transfer Accounts Receivable and Accounts Payable Detail Do not make accounting changes in this area. Update Customer Constants Do not make accounting changes in this area. Update Accounts Receivable, and Accounts Payable Constants Do not make accounting changes in this area. Update Payroll Constants Do not make accounting changes in this area. 2 of 17 January 2009 ADP, Inc. B20551

3 Kia 2009 Financial Statement Changes Financial Statement Update Procedures Update Offset Accounts (from the General Ledger Maintenance Menu GLM06 option 9) Accounting Changes Change the following accounts. Account Description 4011/6011 Sales/COS New Vehicle - Kia Soul - Retail Update Sources Control Do not make accounting changes in this area. Update Operating Reports Format Control (from the General Ledger Maintenance Menu GLM06 option 13) Add the following accounts. Account Description Type 2404 CPO Inventory B Update Operating Reports Format Control (from the General Ledger Maintenance Menu GLM06 option 13) Change the following account. Account Description Type 4011/6011 Sales/Cost of Sales New Veh Kia B,I,S Soul - Retail Update Daily Operating Report (DOR) Format and Account Assignments (from the Daily Operating Control Menu GLM08 option 1) Add the following accounts. Account Description 2404 CPO Inventory Update Daily Operating Report (DOR) Format and Account Assignments (from the Daily Operating Control Menu GLM08 option 1) Change the following account. Account Description 4011/6011 Sales/Cost of Sales New Veh Kia Soul - Retail B20551 January 2009 ADP, Inc. 3 of 17

4 Kia 2009 Financial Statement Changes Financial Statement Update Procedures Update Daily Operating Control (DOC) Format and Account Assignments (from the Daily Operating Control Menu GLM08 option 6) Accounting Changes Add the following accounts. Account Description 2404 CPO Inventory Update Daily Operating Control (DOC) Format and Account Assignments (from the Daily Operating Control Menu GLM08 option 6) Change the following account. Account Description 4011/6011 Sales/Cost of Sales New Veh Kia Soul - Retail Update Service Advisor Account Assignments (from the G.L. Maintenance Menu GLM06 option 14) Do not make accounting changes in this area. Update Parts Salesman Account Assignments (from the G.L. Maintenance Menu GLM06 option 15) Do not make accounting changes in this area. Update Inventory Vehicle Customization (from the Salesline Customization Menu GLM12 option 1) Change the following accounts. Account Description 4011/6011 Sales/Cost of Sales New Vehicle Kia Soul - Retail Update Done Deal Customization (from the Salesline Customization Menu GLM12 option 2) Change the following accounts. Account Description 4011/6011 Sales/Cost of Sales New Vehicle - Kia Soul - Retail Update Cash Receipts Customization Review and make the appropriate account number changes. 4 of 17 January 2009 ADP, Inc. B20551

5 Kia 2009 Financial Statement Changes Financial Statement Update Procedures Apply Manufacturer Financial Updates (from the Factory Financials Menu GLM10 option 9) Accounting Changes Apply the 2009 financial statement files. Work with Print Format (from the Factory Financials Menu GLM10 option 6) Update the financial statement constants. Page 1 Sequence 10 Year Field Update Account Assignments (from the Factory Financials Menu GLM10 option 2) Review the Chart of Accounts and make the necessary changes to your accounting system. B20551 January 2009 ADP, Inc. 5 of 17

6 Kia Financial Statement MANUAL ENTRY WORKSHEET 2009 Kia Financial Statement MANUAL ENTRY WORKSHEET Use the following worksheet to write the Amount (-/+) and Code (temporary or permanent) for your financial statement memo entries. DESCRIPTION PAGE LINE COLUMN AMOUNT (-/+) CODE (T/P) Receivables Past Due 30 Days Service and Parts Vehicle Customer Notes Lease, Rental & Service Contracts Misc Customer Warranty Claims Kia Warranty Claims Other Pre Delivery Service Kia Factory Holdback Kia Factory Holdback Other Vehicle Incentives Other Distributor Receivables Inventories Demos-Kia Car Demos-Kia Truck Demos-Other Car Demos-Other Truck New Vehicle-Kia Car New Vehicle-Kia Truck New Vehicle-Other Car New Vehicle-Other Truck Used Vehicle-Kia Car Used Vehicle-Kia Truck Used Vehicle-Other Car Used Vehicle-Other Truck Program Vehicle-Kia Car Program Vehicle-Kia Truck CPO Vehicles Kia + Other CPO Vehicles Kia + Other B20551 January 2009 ADP, Inc. 6 of 17

7 Kia Financial Statement MANUAL ENTRY WORKSHEET DESCRIPTION PAGE LINE COLUMN AMOUNT (-/+) CODE (T/P) Other Vehicle Assets Lease Vehicles Rental Vehicles Long Term Debt Amt Due 1 Year Notes Payable-Capital Loans Mortgages Payable Other Notes & Contracts Owners/Officers Notes Subordinated Debt Current Earnings Before Taxes January-New Kia Units January-New Other Units January-Used Retail Units January-Used Wholesale Units January-Profit or Loss January-New Fleet Kia January-New Fleet Other February-New Kia Units February-New Other Units February-Used Retail Units February-Used Wholesale Units February-Profit or Loss February-New Fleet Kia February-New Fleet Other March-New Kia Units March-New Other Units March-Used Retail Units March-Used Wholesale Units March-Profit or Loss March- New Fleet Kia March- New Fleet Other B20551 January 2009 ADP, Inc. 7 of 17

8 Kia Financial Statement MANUAL ENTRY WORKSHEET DESCRIPTION PAGE LINE COLUMN AMOUNT (-/+) CODE (T/P) Current Earnings Before Taxes continued: April-New Kia Units April-New Other Units April-Used Retail Units April-Used Wholesale Units April-Profit or Loss April- New Fleet Kia April- New Fleet Other May-New Kia Units May-New Other Units May-Used Retail Units May-Used Wholesale Units May-Profit or Loss May- New Fleet Kia May- New Fleet Other June-New Kia Units June-New Other Units June-Used Retail Units June-Used Wholesale Units June-Profit or Loss June- New Fleet Kia June- New Fleet Other July-New Kia Units July-New Other Units July-Used Retail Units July-Used Wholesale Units July-Profit or Loss July- New Fleet Kia July- New Fleet Other August-New Kia Units August-New Other Units August-Used Retail Units August-Used Wholesale Units August-Profit or Loss August- New Fleet Kia August- New Fleet Other of 17 January 2009 ADP, Inc. B20551

9 Kia Financial Statement MANUAL ENTRY WORKSHEET DESCRIPTION PAGE LINE COLUMN AMOUNT (-/+) CODE (T/P) Current Earnings Before Taxes continued: September-New Kia Units September-New Other Units September-Used Retail Units September-Used Wholesale Units September-Profit or Loss September- New Fleet Kia September- New Fleet Other October-New Kia Units October-New Other Units October-Used Retail Units October-Used Wholesale Units October-Profit or Loss October- New Fleet Kia October- New Fleet Other November-New Kia Units November-New Other Units November-Used Retail Units November-Used Wholesale Units November-Profit or Loss November- New Fleet Kia November- New Fleet Other December-New Kia Units December-New Other Units December-Used Retail Units December-Used Wholesale Units December-Profit or Loss December- New Fleet Kia December- New Fleet Other Financial Summary Net Working Capital Requirement Average Monthly Expense B20551 January 2009 ADP, Inc. 9 of 17

10 Kia Financial Statement MANUAL ENTRY WORKSHEET DESCRIPTION PAGE LINE COLUMN AMOUNT (-/+) CODE (T/P) Used Vehicle Trade-In Summary Kia Car Sales-MTD Kia Car Sales-YTD Kia Truck Sales-MTD Kia Truck Sales-YTD Other Sales-MO Other Sales-YTD Lease Analysis Retail Lease Units-MO Retail Lease Units-YTD Retail Lease Gross-MO Retail Lease Gross-YTD Personnel Summary Dealer(s)-Administration Mgrs/Foremen- New Mgrs/Foremen - Used Mgrs/Foremen - Combined Mgrs/Foremen F & I Mgrs/Foremen - Service Mgrs/Foremen Body Shop Mgrs/Foremen Parts & Accessories Mgrs/Foremen Administrative Salespersons New Salespersons Used Salespersons Combined Salespersons F & I Salespersons - Service Salespersons Body Shop Salespersons Parts & Accessories Service/BS Technicians New Service/BS Technicians Used Service/BS Technicians Service Service/BS Technicians Body Shop of 17 January 2009 ADP, Inc. B20551

11 Kia Financial Statement MANUAL ENTRY WORKSHEET DESCRIPTION PAGE LINE COLUMN AMOUNT (-/+) CODE (T/P) Personnel Summary continued: Clerical New Clerical Used Clerical Service Clerical - Body Shop Clerical - Parts & Accessories Clerical - Administrative Other New Other Used Other Service Other - Body Shop Other-Parts & Accessories Other - Administrative Labor: Kia Mech Customer Labor Other Mech Customer Labor Kia Body Customer Labor Other Body Customer Labor Kia Mech Warranty Labor Other Mech Warranty Labor Kia Body Warranty Labor Other Body Warranty Labor Kia Mech Internal Labor Other Mech Internal Labor Kia Body Internal Labor Other Body Internal Labor Total Dollar Sales Prior Year MTD Total Dollar Sales Prior YTD B20551 January 2009 ADP, Inc. 11 of 17

12 Kia Financial Statement MANUAL ENTRY WORKSHEET DESCRIPTION PAGE LINE COLUMN AMOUNT (-/+) CODE (T/P) Labor continued: New Kia Gross Prior Year MTD New Kia Gross Prior Year YTD New Other Gross Prior Year MTD New Other Gross Prior YTD Used Vehicle Gross Prior Year MTD Used Vehicle Gross Prior YTD Service Gross Prior Year MTD Service Gross Prior YTD Body Shop Gross Sales Prior Near MTD Body Shot Gross Prior YTD Parts & Accessories Gross Prior Year MTD Parts & Accessories Gross Prior YTD Total Gross Prior Year MTD Total Gross Sales Prior YTD Total Expenses Sales Prior Year MTD Total Expenses Prior YTD Oper. Profit (Loss) Prior Year MTD Oper. Profit (Loss) Prior YTD Net Additions or Deductions Prior Year MTD Net Additions or Deductions Prior YTD Total Bonuses Prior Year MTD Total Bonuses Prior YTD Net Profit (Loss) Before Taxes Prior Year MTD Net Profit (Loss) Before Taxes Prior YTD of 17 January 2009 ADP, Inc. B20551

13 CHART OF ACCOUNTS KIA DEALERS' STANDARD ACCOUNTING SYSTEM ACCT. NO ASSETS CASH AND CONTRACTS Petty Cash Fund Cash on Hand Cash in Bank/Temp. Cash Investment Contracts in Transit CUSTOMER RECEIVABLES Service and Parts Accounts Receivable Vehicle Accounts Receivable Customer Notes Receivable Lease and Rental Accounts Receivable Service Contracts Accounts Receivable Misc. Customer Accounts Receivable DISTRIBUTOR RECEIVABLES Warranty Claims-Kia Receivable Warranty Claims-Other Receivable Pre-Delivery Service-Kia Receivable Transportation Damage Claims Receivable Factory Holdback Receivable - Kia Factory Holdback Receivable - Other Vehicle Incentives Receivable Other Distributor Receivable Allowance For Doubtful Accounts FINANCE & INSURANCE CO. RECEIVABLES Finance Company Rec.-Current Insurance Company Receivable INVENTORIES Demonstrators-Kia Demonstrators-Other New Vehicles-Kia New Vehicles-Other Used Vehicles-Kia CPO Vehicles-Kia / Other Used Vehicles-Other Program Vehicles-Kia Program Vehicles-Sportage Parts and Accessories-Kia Parts and Accessories-Other Tires, Gas, Oil and Grease Body Shop Materials Sublet Repairs Work in Process-Labor Non-Automotive Merchandise OTHER CURRENT ASSETS Marketable Securities Prepaid Expense - Taxes Prepaid Expense - Insurance Prepaid Expense - Rent Prepaid Expense - Interest Prepaid Expense - Advertising Prepaid Expense - Other OTHER VEHICLE ASSETS Lease Vehicles Accum. Depr. of Lease Vehicles Rental Vehicles Accum. Depr. of Rental Vehicles FIED ASSETS-AUTO BUSINESS ONLY Land-Auto Business Only Buildings and Improvements-Auto Business Only Accum. Depr. of Bldgs. and Imp. Service Equipment Accum. Depr. of Service Equipment Parts and Accessories Equipment Accum. Depr. of Parts & Access. Equip. Furniture, Signs and Fixtures Accum. Depr. of Furn., Signs & Fix Company Vehicles Accum. Depr. of Company Vehicles Leaseholds Accum. Amortization of Leaseholds ACCT. NO ASSETS CONTINUED OTHER ASSETS Deposits on Contracts Life Insurance-Cash Value Notes & Accts. Rec.-Officers/Owners Advances to Employees Due From Fin. Companies-Deferred Other Non-Franchise Assets LIABILITIES ACCOUNTS PAYABLE Trade Creditors Vehicle Lien Payoff Customer Deposits Prepaid Distributors Incentives License and Title Fees SHORT TERM NOTES Notes Payable-Short Term ACCRUED LIABILITIES Accrued Interest Accrued Insurance Accrued Payroll Accrued Payroll Taxes Accrued Sales Tax Accrued Taxes-Other than Payroll, Sales, and Income Accrued Corporate/lncome Taxes Accrued Bonuses-Employees Accrued Bonuses-Owners Accrued Pension Fund/Profit Sharing Accrued-Miscellaneous INVENTORY FINANCE LIABILITIES-NOTES PAYABLE Notes Payable-New Vehicles & Demo. Notes Payable-Used Vehicles Notes Payable-Inventory-Other OTHER VEHICLE LIABILITIES Notes Payable-Lease Vehicles Notes Payable-Rental Vehicles REPOSSESSION AND S.C. RESERVES Reserve For Repossession Losses Reserve For Service Contract Losses LONG TERM DEBT Notes Payable-Capital Loans Mortgages Payable Other Notes & Contracts Payable Owner/Officer Notes Payable LIFO RESERVE LIFO Reserve Inventory Adjustment-New LIFO Reserve Inventory Adjustment-Used LIFO Reserve Inventory Adjustment-P & A NET WORTH Capital Stock Treasury Stock Retained Earnings Dividends Investment Drawing Additional Paid in Capital Profit (Loss) After Taxes SALES COST SALES AND COST OF SALES NEW VEHICLE DEPARTMENT New Vehicle-Kia Sportage-Retail New Vehicle-Kia Soul-Retail New Vehicle-Kia Rondo-Retail New Vehicle-Kia Rio-Retail New Vehicle-Kia Optima-Retail New Vehicle-Kia Sedona-Retail New Vehicle-Kia Spectra-Retail New Vehicle-Kia Sorento-Retail New Vehicle Amanti New Vehicle-Kia Open Retail New Vehicle Dealer Cash Incentives-Kia New Vehicle-Kia-Fleet New Vehicles-Other-Retail After Incentives New Vehicles-Other-Fleet After Incentives After Market Products-Kia Cost of Sale-LIFO Adjustment-New Kia Cost of Sale-LIFO Adjustment-New Other Repo Losses-New Vehicles F & I DEPARTMENT Service Contract New-Kia Service Contract New-Other Finance Income New-Kia Finance Income New-Other Insurance Income New-Kia Adj. F & I Svc. Cont.-Kia Insurance Income New-Other USED VEHICLE DEPARTMENT Used Retail Cars-After Reconditioning Used Retail Cars Reconditioning Used Retail Truck-After Reconditioning Used Retail Truck Reconditioning Used Car-CPO Kia Used Truck-CPO Kia Used Vehicle-CPO Other Used Car CPO Kia Reconditioning Used Truck-CPO Kia Reconditioning Used CPO Other Reconditioning Kia Demos & Daily Rentals / Fleet Resale Used Vehicles-Wholesale Adjustment-Used Vehicle Inventory Service Contracts-Used Finance Income-Used Insurance Income-Used Adj. F & I Used & Program Cost of Sale LIFO Adjustment-Used Repossession Losses-Total Used SALES AND COST OF SALES ODDS SERVICE DEPARTMENT Customer Mechanical Labor-Kia Customer Mechanical Labor-Other Warr. Claims Mach. Labor-Kia Warr. Claims Mach. Labor-Other Internal Mechanical Labor-Kia Internal Mechanical Labor-Other Pre-Delivery Service Labor Labor-Unapplied Time-Mech. Sublet Repairs-Mechanical BODY SHOP DEPARTMENT Customer Body Shop Labor Warranty Claims Body Shop Labor Internal Body Shop Labor Labor-Unapplied Time-Body Shop Sublet Repairs-Body Shop Body Shop Materials SALES AND COST OF SALES ODDS CONTINUED SALES COST PARTS AND ACCESSORIES DEPT. P&A R.O. Cust. Mech.-Kia P&A R.O. Cust. Mech.-Other P&A R.O. Cust. Body Shop-Kia P&A R.O. Cust. Body Shop-Other P&A Warranty Claims-Kia P&A Warranty Claims-Other P&A lnternal-kia P&A Internal-Other P&A Counter Retail-Kia P&A Counter Retail-Other P&A Wholesale-Kia P&A Wholesale-Other P&A Inventory Adjustments Tires, Gas, Oil & Grease Non-Automotive Merchandise Cost of Sale LIFO Adjustment-P & A Parts & Access.-Purchase Discounts Earned DEPARTMENTAL SELLING EPENSES Sales Compensation Supervision Compensation Delivery Expense Finance, Insurance & Service Contacts Compensation Advertising-Departmental Interest-Floor Plan DEPARTMENTAL OPERATING EPENSES Policy Adjustments Claims Adjustments Demos & Company Vehicles-Dept'l. Inventory Maintenance Personnel Training Outside Services-Departmental Freight Supplies and Small Tools Laundry and Uniforms Depreciation-Equipment and Vehicles-Dept'l. Equip.-Maintenance, Repair & Rental-Dept'l. Miscellaneous Expense Salaries and Wages Clerical Salaries Vacation & Time Off Pay COMPLIMENTS OF CALL TOLL FREE 1-(800)-ADP-ADP-ADP TO REORDER COA-KIA (11/08)

14 CHART OF ACCOUNTS KIA DEALERS' STANDARD ACCOUNTING SYSTEM SALES AND COST OF SALES ODDS - CONTINUED ACCT. NO. OVERHEAD EPENSES 7400 Rent and Equivalent 7410 Salaries & Wages-Admin. & General 7420 Owners Salaries 7430 Payroll Taxes 7440 Employee Benefits 7450 Pension Fund/Profit Sharing 7460 Advertising-General & Institutional 7470 Stationery and Office Supplies 7480 Computer System Services 7490 Outside Services-General & Institutional 7500 Company Vehicles-Administration 7510 Contributions 7520 Dues and Subscriptions 7530 Telephone 7540 Legal and Auditing Expense 7550 Postage 7560 Travel and Entertainment 7570 Heat, Light, Power and Water 7580 Furniture, Signs, Fixtures & Equipment- Maintenance, Repair and Rental 7590 Furniture, Signs, Fixtures & Equipment- Depreciation 7600 Insurance-Other Than Bldgs. & Improv Taxes-Other Than Real Estate, Payroll & Income 7620 Interest-Other Than Floor Plan & Real Estate Mortgage 7630 Taxes - Real Estate 7640 Interest Real Estate Mortgage ADJUSTMENTS 7700 Bonuses-Employees 7710 Bonuses-Owners 7800 Estimated Income Taxes OTHER INCOME 8000 Cash Discounts Earned 8010 Interest Earned 8020 Bad Debts Recovered 8040 Other Income 8050 Lease Income 8060 Rental Income 8070 Kia Standard Income OTHER DEDUCTIONS 8100 Cash Discounts Allowed 8120 Adjustments for Doubtful Accounts 8140 Other Deductions 8150 Lease Expense 8160 Rental Expense DEPARTMENTAL DISTRIBUTION NEW OTHER USED SERV. BODY P & A COMPLIMENTS OF CALL TOLL FREE 1-(800)-ADP-ADP-ADP TO REORDER

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