LIFO Software Description
Our LIFO calculation software features a user-friendly data interface along with extensive databases for both new and used vehicles. It gathers cost data for all qualifying vehicles produced and on sale at automotive dealerships, enabling users to record the cost information pertinent to the dealership's inventory at the end of its fiscal year. Additionally, it employs Microsoft Excel® for reporting, facilitating seamless integration with various accounting software options, including Reynolds & Reynolds, ADP, and QuickBooks. This software solution is not only efficient and precise but also a cost-effective option for managing LIFO calculations in automotive dealerships. Users can easily download updates from the website, ensuring they have access to the latest features and improvements. Furthermore, the application can be installed on a server or as a stand-alone PC version, accommodating both multiple users and single-user setups.
LIFO Software Alternatives
Xero
Save 90% for 6 months on Xero's award-winning accounting and online bookkeeping platform. Beautifully simple, Xero offers a wide range of features that help businesses manage their numbers effortlessly, including invoicing, inventory management, bank connections, payroll, reporting, and app integrations for a seamless user experience. Xero offers plans for businesses of any size, with room to grow.
Xero provides a comprehensive ecosystem of integrated apps and connections to banks and financial institutions, allowing small businesses to access a variety of solutions within its open platform to efficiently manage their operations and finances. For accounting and bookkeeping practices, Xero offers powerful compliance tools, intelligent practice management software, and a centralized cloud-based accounting ledger for all clients, accessible in one place.
Xero automates data entry by pulling sales and expense records directly from banks, invoicing apps, point-of-sale systems, and more. It securely connects to business bank accounts, eliminating manual data input, while smart bank reconciliation learns user preferences to streamline the process.
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Vehicle Acquisition Network (VAN)
Vehicle Acquisition Network (VAN) is an automotive software platform built to help car dealerships acquire high-quality used vehicles directly from private sellers—without relying on auctions. As wholesale prices rise and vehicle availability tightens, VAN empowers dealers with tools to source inventory faster, more profitably, and with greater control.
VAN aggregates local FSBO (for-sale-by-owner) listings, applies real-time market data to assess profitability, and automates communication with sellers at scale. Buyers can manage leads, track seller conversations, and streamline acquisition workflows through an intuitive CRM-style dashboard designed specifically for dealership teams.
For dealers who don’t have dedicated acquisition staff, VAN offers a Managed Buyer program, pairing stores with expert buyers who actively source, engage, and negotiate with private sellers on their behalf—saving time and boosting acquisition volume without internal hiring.
VAN is trusted by hundreds of dealerships across North America—from independent rooftops to franchise groups—looking to beat Carvana and CarMax at their own game. It's the smarter way to buy cars.
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eraPower
Pentana Solutions recognizes that minimizing profit leaks is a significant concern for numerous automotive dealers. The eraPower showroom software addresses this issue effectively by removing calculation inaccuracies related to luxury car taxes, GST, registration fees, and stamp duty. By assisting sales team members in deal pricing, eraPower performs the necessary calculations and secures them so they cannot be altered. In addition, the software guarantees that vehicle pricing is consistently updated in alignment with manufacturer schedules, whether monthly or weekly, while also ensuring that margins are automatically adjusted based on service department inputs regarding scheduled work. Dealership management is empowered to establish minimum margin thresholds, which helps in tackling potential profit leaks right from the outset. This comprehensive approach not only safeguards profits but also streamlines the overall sales process for dealerships.
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CDK Global
CDK provides a unified, SOC 2-compliant dealership software solutions designed to simplify dealership operations, improve profitability and create a better customer experience across every department. Instead of relying on disconnected tools for Sales, Service, Inventory and Accounting, CDK brings everything together in one place through the CDK Dealership Xperience Platform.
CDK offers six connected suites inside the Dealership Xperience Platform, each one solving for a specific area of dealership operations:
• Foundations Suite: Ideal for enterprise and multistore dealers, this suite delivers advanced Accounting, DMS functionality, centralized management and CDK SimplePay for smooth deal workflows.
• Fundamentals Suite: Created for independent dealerships and smaller franchise operations, the Fundamentals Suite offers streamlined core tools with the same data connectivity as the Foundations Suite.
• Vehicle Inventory Suite: Uses AI and real-time market insights to help dealers source, price and manage inventory more effectively and profitably.
• Modern Retail Suite: Combines CRM, Digital Retailing and F&I workflows so customers can start buying online and complete the process in the dealership without rework.
• Fixed Operations Suite: Supports Service and Parts departments with communication tools like video and texting, accurate estimates and to-the-penny Service pricing.
• Intelligence Suite: Brings advanced analytics, forecasting and performance visibility across departments so decision-making is faster and more data-driven.
Dealers choose CDK for its ability to connect once-separate systems, support day-to-day operations, and provide measurable improvements in efficiency, profitability and customer satisfaction.
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Integrations
Company Details
Company:
LBMC
Year Founded:
2017
Headquarters:
United States
Website:
www.lbmc.com/services/technology/software/lifo/
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Product Details
Platforms
Web-Based
Types of Training
Training Docs
Live Training (Online)
Webinars
Training Videos
Customer Support
Business Hours
Online Support
LIFO Software Features and Options
Auto Dealer Accounting Software
Buy-Here-Pay-Here
Collections Management
Expense Management
Financing Management
Inventory Management
Lease-Here-Pay-Here
Parts Management
Payroll Management
Recurring Billing
Sales Management
Sales Tax Management
Service Department
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