Run Dealership Floorplan Audit Preparation Checklist — Free

Inspection Details

Dealership name and location confirmed

Record the store name, rooftop, and physical location being prepared for audit.

Audit date and expected lender auditor arrival time recorded

Document when the preparation check was completed and when the floorplan auditor is expected on-site.

Note (optional)

Inventory source report selected

Identify the system or report used as the current inventory control source of truth.

Pre-audit reconciliation owner assigned

Name or role of the person responsible for resolving discrepancies before the auditor arrives.

Supporting documents organized and ready for review critical (required)

Verify that inventory reports, title records, payment confirmations, and sold-but-not-paid listings are assembled in one audit packet.

Yes No N/A

Current Inventory Reconciliation

Current inventory list matches physical units on the lot critical (required)

Compare the latest inventory report to the physical lot and showroom count. All units should be accounted for by VIN or stock number.

Yes No N/A

All units have matching VIN or stock number identifiers critical (required)

Verify that each vehicle can be matched to the inventory list using a unique identifier without ambiguity.

Yes No N/A

Unlocated or missing units identified and escalated critical (required)

Confirm any missing, moved, demo, loaner, or off-site units are documented and escalated for immediate resolution.

Yes No N/A

Units in transit or off-site are documented separately

Verify that vehicles not physically present are supported by transport, transfer, or off-site documentation.

Yes No N/A

Inventory aging and received dates reviewed for anomalies

Check for unusually aged units, duplicate entries, or recent receipt discrepancies that may affect audit accuracy.

Yes No N/A

Payment Status and Floorplan Balance

Paid units are marked as paid in the inventory system critical (required)

Verify that any units paid off are reflected correctly in the system and supported by remittance or payoff documentation.

Yes No N/A

Open floorplan balances reconcile to lender statements critical (required)

Compare open unit balances to the most recent lender statement and identify any variances.

Yes No N/A

Sold-but-not-paid units identified and listed separately critical (required)

Confirm that all sold-but-not-paid units are clearly identified, with sale date, buyer status, and payoff timing documented.

Yes No N/A

Any past-due or delinquent floorplan accounts escalated critical (required)

Verify that overdue accounts, curtailments, or exceptions have been escalated to management and accounting.

Yes No N/A

Titles in Trust and Ownership Records

Titles in trust are accounted for and traceable to each applicable unit critical (required)

Verify that every title held in trust can be matched to the corresponding vehicle and supporting record.

Yes No N/A

Title documents are stored securely and accessible for audit review critical (required)

Confirm title files are organized, protected from unauthorized access, and available to the auditor upon request.

Yes No N/A

Outstanding title exceptions documented critical (required)

Record any missing, delayed, corrected, or reissued titles and the action plan for resolution.

Yes No N/A

Audit Readiness and Sign-Off

Discrepancies corrected or assigned with due dates critical (required)

Confirm all identified deficiencies have a documented owner, corrective action, and target completion date.

Yes No N/A

Audit contact list and escalation path available

Verify that accounting, title clerk, inventory manager, and general manager contacts are available for rapid escalation during the audit.

Yes No N/A

Final readiness approved by responsible manager critical (required)

Manager attests that the dealership is prepared for the floorplan lender audit and supporting records are ready.

Note (optional)

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Run: Dealership Floorplan Audit Preparation Checklist

Inspection Details

Current Inventory Reconciliation

Payment Status and Floorplan Balance

Titles in Trust and Ownership Records

Audit Readiness and Sign-Off

Get your results