How much time do you spend sitting behind your desk staring at the numbers that sum up the workings of your facility? Bookkeeping is integral to keeping your horse farm running, but it can sometimes feel overwhelming and disorganized. While many professional facilities can (and should) hire a professional to handle the complex parts of their bookkeeping, there are many day-to-day tasks, such as invoicing, transaction record-keeping, payroll, etc., that a barn owner should keep tabs on to ensure their business is in healthy financial order.
Set Yourself Up For Success
The key to successful bookkeeping is all in the foundational processes you establish. Set up a recurring time weekly, monthly, and yearly to complete certain billing tasks. Whether you invoice clients monthly or as services occur, keeping a detailed log of expenses tied to both the horse and owner account can help to prevent any oversights in billing. StableSecretary can help you to record services as they happen directly from your phone, or you can make notes in a horse’s file as a reminder of the services used that should be billed later on. You can also set the services you offer and the associated rates in the tool for quicker invoicing.
If you’re already a StableSecretary user, you understand how significantly digital record-keeping can improve your farm management strategy. Still, it goes beyond managing the quality of care of the horses in your facility. Having the ability to record your services throughout the day and access everything directly from your phone can help to prevent oversights from occurring in your finances as well.
Don’t wait until the last minute and scramble to create invoices and pay your bills. Bills paid late usually mean fees that could be avoided with more diligent planning. Setting up a financial dashboard that accurately reflects accounts will save you both time and money in the long run. Suppose you correctly record services as you provide them. In that case, StableSecretary’s financial platform has the tools to quickly run reports, so you’re only a few clicks away from an organized, detailed invoice to pass along to your clients.
Easily Accept and Track Payments
If you’ve been in the horse world for any time, you’ll know that every facility does things a little differently – this goes for financial management too! Gone are the days when clients feel comfortable handing over cash at the start of the month or leaving a check in an unguarded lockbox. Not only were these risky options, but it made it difficult for facility owners to update payment records and track their financial health. Through StableSecretary’s integration with Equestrian Payment Solutions, facilities can offer the ability to accept secure credit card payments online. You can also export payment information directly to Quickbooks! Complete your invoicing and payment tracking through StableSecretary, then export important financial information straight to Quickbooks for streamlined bookkeeping and accounting.
Ask for Professional Help
It’s never a bad idea to ask for help when you need it – especially regarding the financial aspect of your business! Professional equine accountants know the ins and outs of the industry and have a depth of knowledge that can save your facility money. While a professional accountant is worth their weight in gold, how you manage your records is vital to providing them with the information they need to help you set your business up for success. Suppose you find that tracking services and organizing billing information take up too much of your time. In that case, StableSecretary offers data entry packages so you can hand off your record-keeping.
Simplify Your Finances with StableSecretary
Don’t put off the task of getting your finances in order. Create a routine that occurs every billing cycle to make the most of your time. Get started with a StableSecretary Professional Plan so you can skip the stressful end-of-the-month panic that plagues many farm owners as they scramble to coordinate services and payments. Save time and prevent mistakes by recording services directly into the platform from your smartphone, tablet, or computer throughout the month. When ready, create invoices, record payments, view account balances, and generate financial reports. Export payments to Quickbooks and accept online credit card payments through the integrated Equestrian Payment Solutions or your processor. Reduce your time at your desk so you can get back in the barn and out in the saddle to provide the services your clients and your books require to keep things running smoothly.
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