Why is break even important to know
It is the dollar per car amount a branch must exceed to make a profit
What is your branches expenses for the accounts: bad debt, fuel, uninsured losses, customer satisfaction
(Must be able to explain why your branch is different from what is reasonable. Know if your branch is higher or lower due to the nature of the be and or due to an event or trend that led to the discrepancy)
Bad debt:
Fuel:
Uninsured losses:
Customer satisfaction:
What are reasonable per unit expenses for the following accounts: bad debt, fuel, uninsured losses, customer satisfaction
Bad debt: $5/car home city; $1/car airport
Fuel: ($1)/car home city; ($8)/car airport
Uninsured losses: $7/car home city; $7/car airport
Customer satisfaction: $3/car home city; $3/car airport
What types of expenses are most useful to analyze on a total dollar basis and why
Overhead expenses should be evaluated on total dollar basis because they are relatively fixed
If you could only have one type of reporting per unit or total dollar which would you choose and why
Per unit: makes it easier to see trends with taking into account fleet size
Why are there tabs showing both per unit and total dollars
A per unit basis is helpful for comparison across different sized branches and total dollars basis is helpful because it reflects the actual amount earned or spent
What is the income and expense per unit financial statement
Income and expense per unit reflects revenue, expenses, and profits on a per unit basis
Who is your accountant
Find out
What is the role of the business management department
To provide guidance and information to all departments to help make wise business decisions and exercise fiduciary responsibilities
What might lead a branch to have a higher or lower break even
Higher fixed assets, less control over controllable costs, etc
You are looking at a December per unit and there are four different time periods. What are in those time periods
MO: December of current fiscal year
PYMO: December of prior fiscal year
YTD: August through December of current fiscal year
PYTD: August through December of the prior fiscal year
Why would you need to void a ticket
When a rental contract is opened but the customer does not actually rent
Give an example of a specific situation of when you need to void a ticket
A pre write is completed and the customer does not show; after ticket is opened it is determined that we cannot rent to customer
Why would we/you need to backdate a ticket
When the rental began or ended on a different day than the current day
Give an example of a specific situation when you would need to backdate a ticket
If a customer comes in to rewrite a contract on a day other than the 30th or 31st for a monthly rental; or if a customer drops off a vehicle at a shop over the weekend
Why should petty cash never be used for travel and entertainment (T&E)
All T&E items need to go in a reimbursement
Give 2 reasons why petty cash cannot be used for T&E
T&E has to be approved by a supervisor or manager; there needs to be an element of control over T&E
How do you process a T&E reimbursement
On the HUB download the form to your R drive. Open form and fill out all required cells including purpose of meeting and first and last name of attendees. Should include all itemized receipts, and give to supervisor for approval
What type of information can be found on the daily report
Snapshots of your branch at one point in time–units not rented, double rents, close pends, cars lost and gained, units in the shop, units to be pulled for resale, etc
Why is it important to balance the bank daily or as often as you take in cash or checks
To minimize: 805s, fraud, interest benefit, safety (no large amounts of cash at branch)
Explain how to research and fix an issue on an open CRS when a money order was receipted as cash
If it is on an open ticket it needs to be fixed in 2.0 payment history
If it is on a closed ticket it needs to be fixed in RFS
What needs to be sent to admin at EOM (4 things)
- Manual transactions summaries
- Bills and invoices
- Contracts
- Van addendums
Why is it important to send all manual transactions to admin
It is sent with receipts in order to be expensed accordingly
Why is it important to send all invoices and bills to admin
In order for expenses to be accounted for in the correct month
Why is it important to send van addendums and contracts to admin
In order to be sent to xerox to be scanned
Why are ERAC financial statements and branch goals for DW%, IPC, etc confidential information (give 2 reasons)
Just as customer and employee information is confidential, so is company information
As a private company, our financial information is not automatically available to the public
We do not want competition knowing our performance or goals; and customers do not need to know our sales goals
Give 2 reasons why it is important to work accounts receivable run (AR run)
To reduce bad debt, customer satisfaction, increase cash flow, easier to maintenance on a month to month basis
What are enterprises founding values
- Our brand is the most valuable thing we own
- Personal honesty and integrity are the foundation of our success
- Customer service is a way of life
- ERAC is a fun and friend place, where teamwork rules
- Great things happen when we listen to our customers and each other
- We work hard and reward hard work
- We strengthen our communities, one neighborhood at a time
- Our doors are open
If you are not comfortable going to your branch, area, or group rental manager with a concern, what group of Oregon group employees can you go to
Business Ethics Committee
How do you anonymously report an ethical concern
Go to www.ethicspoint.com or call toll free 866-ETHICS-POINT 866-384-4277
What do you do if you are asked by an employee to divulge your Wright Express fuel card PIN
Do not give your code. Contact accounting department (Brian Russell or Brendan Laing) so that they can reissue another code from Wright Express
How do you calculate break even
Total Income Per Car - Operating Profit
Or add up all expenses
Explain to research and fix the following issue on an open CRS:
CRS does not balance
Recount the cash
Look at your interim cash box
Research the source of 805 (look at tickets opened and closed that day, look at cash log, see if the amounts seem incorrect due to a miss key, recount the bank)
If you cannot find it you need to do an 805 entry in your manual transaction
Explain how to handle a break down switch from another group from the moment the customer comes to the branch until you close your branch’s contract
Call the branch the customer originally rented from
Have them gain your unit and do a unit switch in their contract
Gain the out of group unit immediately and shop the unit and keep it on your books
If vehicle had damage needing repair–the receiving group must create a claim and communicate the damage to the originating group within 24 hours
The damage must be discussed with the customer upon return of the vehicle to obtain customer’s statement of acknowledgement of damage
Log it in Ralp: option 18/F9 for home city and for airport create LDR in Odyssey
What balance do you focus on in the current column on AR Express
30 day column: credits and large balances
Current column: CASS 99 and force charges
Who are the members of the Business Ethics Committee
- Sabrina Rokovitz
- Lars Dahlby
- Angel Bigger
- Megan Sailors
- Nicole Drew
- Nick Crouch
- Brandon Williams
- Ron Spires
What are at least 4 things that may lead to a charge back
- Stacking authorizations and deposits
- Name on credit card does not match renter’s name
- Charge card more than 90 days after ticket closed
- Not sending contracts to be scanned or accepting checks that are not run through cross check or no credit card on file
What are at least 5 things for which the Business Management Department is responsible
- Analyze branch operations
- Analyze expenses
- Paying bills
- Receipts checks
- Generate financial statements