Your Equine Industry Bookkeeping Specialist Kismet Business Services LLC, Staunton, Virginia

Staunton, Virginia Your Equine Industry Bookkeeping Specialist

Staunton, Virginia Your Equine Industry Bookkeeping Specialist


Kismet Business Services, LLC


The equine industry is highly specialized and all areas of this business are little understood by others; there are not nearly enough professional equine professionals who help the equine industry run their business AS A BUSINESS.
My areas of expertise include:

  • FINANCES AND BOOKKEEPING – clean-up and maintain, improve profitbility

I excel at increasing efficiency and decreasing waste in all areas of your business. Let me know how I can best help your business succeed!

My virtual business, using cloud-based technologies, will easily handle your needs from anywhere in the country; I am more than happy to come to you and your farm as is needed to work on specific issues.

I am regarded as a facility management and manure management expert through my years spent educating farms on a local, state and national level while at the University of Florida. I have helped every size facility, from small, family-owned backyard farms to large training centers housing hundreds of horses. Extensive work has been done with composting manure and developing various types of manure management facilities to protect the environment and stay ahead of legislation. Let me show you how to stay ahead of legislation, save money and improve your farm's manure and pastures.

Does your current farm have facility issues with paddocks, the barns or rings, your manure containment system (or lack thereof), its workability, etc.? Are you looking to purchase a farm and not sure if it will meet all legal issues, or work well for you in the future? Let me come on-site and look at the property to assess current and future problems. I can develop a new and improved plan for the farm, regarding construction, design and/or management.


(03/22/2018) Over my years in the equine industry, working for and managing farms, veterinary clinics, farm offices, etc., the one thing that always held true was that there often weren't enough hours in the day to get all the day's work done. Time and time again, I saw very effective equine professionals, so talented with the horses and clients, but essentially living out of the back of their truck regarding the book-work and business end.When an equine industry professional outsources invoicing, bill pay, and the books in general, they finally get needed time to spend on their talents and passions to develop young horses, get their students to the next level, or improve their blacksmith, veterinary practice or horse business by serving more clients. Outsourcing bookkeeping obligations lets you: SAVE MONEY - Outsourcing the business bookkeeping eliminates hiring employees to handle bookkeeping, meaning you pay a salary, cover workmen's comp and taxes. This employee also works at your farm or office and needs state-of-the-art hardware and software. Outsourcing eliminates these additional costs for normally a low, monthly fee.GET MORE TIME TO IMPROVE YOUR FOCUS - You started this business because you are great at what you do, but you need time and energy to devote to your skills and passion. Outsourcing enables needed time to devote to your skills and passions. For horse trainers, professional riders, veterinarians, blacksmiths, etc., outsourcing bookkeeping can renew enthusiasm. Few people start a business because they're looking forward to crunching numbers and it's a task many entrepreneurs find eating up their time.HAVE EXPERTISE - Outsourcing places your bookkeeping in the hands of trained professionals focused on making you more profitable and organized. Think about it. Their success is dependent on your success. Their most important goal is to improve your business, so getting a bookkeeper who has extensive knowledge in your industry is key to really improving your business and improving time management.INCREASE SAFETY - Few things require more safety than financial records. Data security and up-to-date technology are essential to maintaining your privacy and security. By doing your company's own books, your own company must carry the latest technology and product updates to ensure this security, meaning more money to spend.HAVE TAX READY FINANCIALS USING LATEST TECHNOLOGY - Using outsourced professional bookkeeping makes accountants, the IRS, and banking institutions happy because it eliminates concern over whether or not the books are accurate. Many businesses also limp along with outdated accounting and bookkeeping software applications, which can really hinder good financial reporting. Whether a business needs to learn better ways to invoice and collect, present a banker with current financial figures for loans and mortgage, or cut costs and improve profits, outsourcing bookkeeping should be an easy choice. Contact me if you need help getting your business books in order: call 352-229-4868, or click here Make your good business great, put profit first and trot on. ☺


(02/19/2018) Every farrier, trainer, farm owner, etc., has areas in which they are strong and areas in which they could use some help, or learn more skills to improve their business. Receipt management is one area in which all businesses struggle. The good news is that technology has really come to bat for all businesses, horse businesses included, so things that used to be difficult are now very simple and secure. Today, with the use of a smart phone, "shoebox receipts" can become a thing of the past.Do you do all of your bookkeeping by hand, or does your horse business utilize bookkeeping programs like Quickbooks Online, Xero, or another program? Regardless of how your bookkeeping gets done, receipt management programs such as Hubdoc can end the constant struggle of having to keep the paper receipts from customers, hay, shavings, new shoes, whatever. The fantastic benefit to your business is that digital records can be kept "in the cloud" so you securely have records for tax time. This eliminates the need to always keep things from getting lost, together and filed. So how does it work? You need to go to the app store and get the Hubdoc "app". Simply put it on your phone for free. There is a monthly subscription for your service, however, if you outsource your bookkeeping (recommended) then your bookkeeper may have this as part of the monthly service fee. If you don't have a bookkeeper then you just pay for the service yourself. Either way, from here it gets really easy.Each time you get a receipt for something that you would normally have to save in your "shoebox", you can instead take a picture on your smartphone. Once you take the photo, Hubdoc offers the "USE PHOTO" or "RETAKE" options so you can confirm that you have taken the bill photo correctly. It is critical that the date, dollar amount and the vendor name are all visible and clear on the picture, or Hubdoc will not be able to retrieve the information. This receipt is then immediately sorted and available on Hubdoc for you to retrieve, or upload to either Quickbooks Online or Xero software, making it seamless. Hubdoc will also automatically create folders for reoccurring vendors. Some items to be careful with are when your bookkeeping software, Quickbooks will often "double" the transaction. The Hubdoc receipt will be seen as a separate attachment from what the bank has uploaded, so you will need to be careful to use the correct item out of your bookkeeping to eliminate doubling your transactions in the bookkeeping software. Other than that, receipt keeping is done. Now when you or your bookkeeper need to send the information to your accountant, all of the needed receipts will already be "in the cloud" for easy retrieval.If you have any more questions about Hubdoc, this link will show you all of the receipt upload options available Please contact me if you have any questions regarding your equine business. Other than that, trot on and happy receipt keeping!


(01/25/2018) Riding, training, showing, racing, taking care of the horses, getting and keeping good customers. These are some of the most important aspects to a "horse" business and accounting principles are generally considered to be a foreign language and a major hassle for most. However, with a little understanding of the financial statements, you will get a better idea how they can help you improve your business. Take note, it IS important to think of what you do AS a business. This is a quick and dirty article on, "What are these reports and what do they mean to me"?Typically, the income statement (aka profit and loss) and balance sheet are statements used in business, but the third statement, the cash flow statement can be the most important, yet underused tool in helping your business. Unfortunately, this statement is applicable only to businesses using accrual method accounting and almost all equine businesses utilize the cash method of accounting.INCOME STATEMENTThe income statement is important because it shows the business profitability (during a specific time period). This statement does show your revenues, expenses, gains, and losses, but it doesn't show where the money is coming and going in the business. It's benefit is to show managers or potential investors if there was a loss or gain during the period being reported.BALANCE SHEETThe balance sheet informs the reader of a company's financial position, but only for a specific moment in time. it enables an understanding of what a company owns AND owes, which is valuable information for bankers and creditors. The balance sheet equation is assets equal liabilities plus owner's equity; it shows how assets are financed: either by borrowing money (a liability) or by using the owner's money (owner's or shareholders' equity).STATEMENT OF CASH FLOWS/CASH FLOW STATEMENTThis statement reports sources of cash and how it is used during a period of time. (the same as with the Income statement). It essentially explains the change in a company's cash and cash equivalents reported on the balance sheets at the beginning and the end of the accounting period. It is organized into cash coming from: operating activities, investing activities, financing activities and non-cash exchanges, interest and also income taxes paid.The Statement of Cash Flows is similar to the Income Statement/P&L Report because it records a company's performance over a specified period of time. It also tells you how much actual money the company generated shows provides the company's ability to pay bills and creditors, finance growth and how well the company has managed its cash. Unfortunately, this statement is not actually a cash-basis report and so is used only in accrual-basis reporting companies, making it not meaningful to a cash-basis company. This is unfortunate because it is potentially a very valuable report that can provide much insight to a company.Hopefully, this brief explanation will give you a better understanding of what these reports are, why they are needed and beneficial. Although no one ever has time in the horse business to read these reports, getting an understanding and an appreciation for their benefits, as well as finding time to actually look at them can really help improve your business. Please contact me if you ever need help getting your business books in order (352-229-4868). In the meantime, put profit first and trot on.

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