How do I check a fleet shop’s parts inventory ownership versus client-owned?

Fleet shops often stock parts that a client has paid for or that are reserved for its trucks. If you count everything on the shelves as the shop’s inventory, you may pay for stock that is not yours to sell. Start by asking the seller how each fleet account handles parts: are they billed on use, pre-paid, or held in the client’s name?

Then check the paperwork. Request client agreements, purchase orders and any consignment records. Walk the shop with the seller and tag items by owner, using a count you can repeat on closing day. Ask about parts on order, parts awaiting return and anything held for warranty claims, since each has a different owner.

Look at how the books treat the stock. Your accountant can compare the balance sheet inventory with the physical count and flag any gap. Some stock may also be pledged to a lender, so ask whether liens must be cleared. Finally, make sure the purchase agreement names what is included, how it will be counted and what happens if the closing count differs. Ask the seller to walk you through one recent fleet job from order to invoice, which shows in practice how parts change hands.

Key takeaways

• Tag shelf stock by owner during a physical count with the seller present.
• Read each fleet client agreement for who owns and who pays for parts.
• Have the purchase agreement describe which stock transfers and how it is counted.