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.


(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.


(12/20/2017) You have your own business and it does pretty well. You are successful and you do your best to keep up with the books and financials when you have the time. Of course, you are also doing all the marketing, generating new clients and handling all the other aspects of the business. Let’s not forget about keeping horses happy and sound, working with the farrier, prepping for the season, staffing, repairing all broke machinery, etc... the list never ends. With all of this under your belt, you realize that t's getting crazy, as is common for all small business owners. Although you are handling the books yourself, are you also taking the time to prepare and look at monthly, quarterly and yearly reports? Are all of your boarders, students and owners set up on automatic invoicing and online payments, or do you still have to generate these yourself? Are any other financial issues slipping through the cracks? Bookkeeping reports, such as the balance sheet (assets, liabilities and equity), and income statement (aka profit and loss) provide excellent “hard” pictures of the financial health of the business. What about checking through the way you are classifying your expenditures, assets, etc., to help ensure that you are saving money and are able to avoid the dreaded audit? Do you periodically check ways to save money with your banking, or in other ways in your business? What about ensuring that you are putting profit into your business equation, not just when there is money left over? What these reports and bank reviews can show you may surprise and startle you, too. All too often, small business owners are so busy that really good bookkeeping/financial management gets a “once-over”. Profit only gets made after all other things are covered, leaving little left at the end. Also, business owners are so personally involved with the business that they can fool themselves about financial issues needing immediate attention, or not make the little changes that can lead to potentially huge savings. The tremendous benefits of having a great and competent person/company looking over your books and business management is that they take the time and extra steps to eliminate/fix all of the aforementioned problems. Great bookkeeping can actually save you lots of money because they are not personally involved. Their goal is your success, making wasteful eliminations and changing routines possible to improve profit and cash flow, or decrease debt. Going through reports and itemization's may seem dull, but these are the very tasks which can dramatically alter cash flow and increase profit.With some extra effort, or by getting qualified bookkeeping help, you will be on your way to increased business savings and financial improvement through careful examination of your books and financial reports. Please contact me if you ever need help decreasing waste and improving efficiency in your business. (352-229-4868, or In the meantime, have a GREAT holiday season and a Happy New Year. Don’t forget to put profit first and trot on. Jamie WKismet Business Services, LLC Virtual Bookkeeping and MoreYOUR EQUINE INDUSTRY SPECIALISTKismetBiz.site352-229-4868

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