Eight checks by dealer principals or general managers are essential to prevent major problems in the financial area.

So says dealer accountant Jeffrey Jensen of Jensen & Keddington, PC, Salt Lake City.

He says many of his dealer clients are finding that these procedures aren't as rigorously performed by accounting departments in their stores as they should be.

The inspection questions are as follows:

1. Are bank reconciliations being done accurately - and are they current?

2. Has an internal review been made recently on internal controls over cash receipts from all departments?

3. Have contracts in transit, customer receivables and all other types of receivables been reviewed?

4. Are annual parts inventory counts followed by a reconciliation of the count to the general ledger?

5. Is the used-vehicle inventory being reconciled to the general ledger?

6. Is the flooring statement reconciled with the appropriate note payable schedule and the general ledger?

7. Have accounts payable been reviewed and their purpose questioned?

8. Are financial statements accurate and do they show the true picture of what is going on in the dealership?

Pennzoil is the first motor oil brand to sponsor the International Automotive Technicians' Network (IATN).

The network consists of more than 25,000 professional automotive technicians in 105 countries around the world. Communicating through IATN's web site, members can remain on the cutting edge of technical knowledge, says Pennzoil.

Via the same web site www.iatn.net, consumers can access the "IATN Shop Finder" to locate the nearest repair shops in their areas that are staffed by IATN professional auto technicians.

Pennzoil says it hopes its affiliation with the organization will promote the use of its products.