WHY OUTSOURCE YOUR HORSE BUSINESS BOOKKEEPING?

Posted at 9:55 am on 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. ☺


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