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Managing Hauling Horses (Equipment, Services, Invoicing, Expenses & Income)

Feb 06, 2025

Table of ContentsIntroduction. 5Horse Hauling Considerations. 5Horse Hauling Investment 6Managing and Accounting. 8Horse Hauling Chart of Accounts. 8Fixed Asset Account Selection Example. 8Income Account Selection Example. 9Expense Account Selection Example. 10Chart of Accounts Account Categories ad Account Selection Example. 11Horse Hauling Business Preferences. 12Horse Hauling Preferences Selection Example. 12Horse Hauling Department Identification. 13Horse Hauling Department Identification ...

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Purchasing and Purchasing Management

May 16, 2024

Purchasing (Prerequisites, Purchasing and Receipt Storage) PurchasingequineGenie is an enterprise management system. An enterprise management system does much more than an accounting system. Accounting systems record historical financial transactions. Accounting systems provide financial statements that are often too late to help manage a business. Most financial statements are good for the tax man and your banker but are of little use for day-to-day operating management. The history they ...

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Inventory and Inventory Management (Rarely Understood, Financially Significant)

Mar 15, 2024

Inventory and Inventory Management (Rarely Understood, Financially Significant) IntroductionInventory in a horse business includes your expendable supplies like hay, grain, supplements and medications that are consumed in less than one year. Inventory can also be horse tack, hand tools and other miscellaneous noncapital equipment that needs to be tracked and managed for insurance or tax purposes, or both.Inventory is not just the quantity of supplies and material on hand; inventory can ...

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Horse Business Management

Jan 24, 2023

Horse Business ManagementOperating a successful horse business is a laborious task by any measure. Not only are the days long and the work hard, but the ever increasing cost in an unpredictable market only adds to the difficulty and risk.A horse business, like any many other businesses, comes down to three simple principles.Marketing and Sales: No customers, no business.Income and Expenses: It’s not what you make, it’s what you keep.Business Management: If you can’t measure ...

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Rapid Billing - Rapid Invoicing with equineGenie

Mar 03, 2019

Rapid Billing – Rapid Invoicing with equinegenieIt makes me smile when I see the QuickBooks’ advertisement that says you get paid faster using QuickBooks. We all know, you get paid when your customer decides to pay you – hopefully sooner than later. It has nothing to do with QuickBooks, or any other invoicing or accounting system. What the advertisement should say is you can get an invoice to a customer faster if you use QuickBooks. But that is not necessarily true either. You ...

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Horse Boarding – Competing In a Competitive Market

Aug 22, 2018

Horse Boarding – Competing In a Competitive MarketBoarding horses is a challenging business – raising feed cost, increased labor cost, labor shortage, declining horse ownership, etc. You not only need to know what to charge, but you need to offer the best possible horse care and the right products and services to attract enough customers to make money. Hopefully, you have figured out what you should be charging from our blog; Horse Boarding – What to Charge? We hope the ...

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What to Charge for Board

Apr 25, 2018

Horse Boarding – What to Charge?What to charge is the most important financial decision you need to make if you are in the horse boarding business. If you get it wrong, you won’t be boarding horses very long. If your price is too high, you won’t have enough customers to make money. If your price is too low, you will lose money and burn through all your cash.There are many types of horse boarding; stall only, stall with full care, stall with a run, paddock, pasture, etc. There ...

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Cash – the life blood of any horse business!

Mar 08, 2015

Every business has a profit pencil, but no business as a cash pencil. What does that mean? What it means is, profit is an accounting opinion and cash is fact. You can fool yourself and others about your profit, but you can’t fool anyone about your cash. You can under or over report your profit by moving expenses and income to a different reporting period. But, you always need to know if you have enough cash to pay you help, pay yourself, purchase your feed in two weeks and make that ...

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A Business Look At Branding Your Business

Jan 23, 2015

Branding is one of the most important activities within any business. Branding generates market awareness. Market awareness generates potential customers. Potential customers become customers. Customers buy your products. That was easy! Now the world knows about you, wants your product, you’re having fun making money, and life is good! From 50,000 feet you might think that is all that needs to happen if you want your business to become an icon in your market space and have the world ...

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Financial Transactions are More Than Financial Records!

Nov 02, 2013

The majority of horse business people think their financial transactions are financial records they only need for filing their taxes, and occasionally satisfying their banker. While financial transactions are a starting point, and in some cases all you need for your taxes, they are not sufficient when your tax authority or banker requests supporting documentation. And don’t get caught in the ‘receipts are documentation’ trap! Receipts are only a small part of the supporting ...

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