In this article, we will be detailing how to handle stolen units in the Lizzy Dealer Management System (DMS). Recently, a new tool was added to Lizzy to handle units that are stolen from your dealership, AND to alert you if someone brings a stolen unit into your dealership for service or as a trade-in.
This tool is very easy to use, and is found on the unit details screen. On this screen, you will now see a blue button labeled “Unit Stolen”. Clicking this button will bring up a confirmation screen where you choose the date of the transaction and the GL account to write the unit off to. Should you receive a check from your insurance company, you would use this same account to offset the intake of those funds. At this point, the unit will be removed from your inventory and marked as Stolen.
Now, here is where things get exciting. When you mark a unit as stolen, it is stored in a database. If this unit is entered by any other dealer using Lizzy, they will get a pop-up informing them that it is a stolen unit, and Lizzy will email you letting you know about it! That way, the two of you can get in touch and take the appropriate legal actions.
And that’s all there is to dealing with stolen units in Lizzy!