What kind of accounting software works best for your farm? We are opening a new barn and will be doing boarding and maybe some lessons. I have heard that Quickbooks is used by many farm owners but how do you get a chart of accounts that works for a horse farm? And what are the pros and cons of an online version vs one that you install on a computer?
Honestly, if I were stating a boarding operation I would use a mini warehouse revenue control software package with an automatic gate system… that software will auto lock the patron out if payment is not received on-time… their access code would auto expire at the end of the payment period
Any complaints would be directed to the unsympathetic computer … you know how ruthless those things are
Yes one could do the same but that requires attention to detail, and personal intervention… which is easily swayed by the thought process… it is “only one day late” “they never have not paid” “the check will be here shortly” … but if you leave this to cold hard calculating computer… it is its fault-- but really it is the patron’s fault.
Either that or require a credit card that would be subject to auto debt for all expenses… the horse we had with a trainer in the early 1990s we did that (the"horse" had her own credit card)…they didn’t have to wait for their money (also at times the horse would buy her groom pizza or lunch)
However, if just tracking expenses… an Excel spread sheet would work
the real answers will follow, I am pretty sure
Ok that was amusing… but really, any real advice?
QuickBooks is the de facto standard for small businesses.
1 Like
And don’t even think of installing locally. Use the SAS version from Intuit. More that suitable for just about any small business not doing government contracts
QuickBooks
I use Xero, because it includes payroll in the basic plan which is $$$ with quickbooks.
I highly recommend Xero. I’m a CPA and recommend my clients go with Xero. QuickBooks is a powerful software but isn’t exactly user friendly for the average small business owner.
​​​​​​PM me if you have questions!
Thanks so much for all of the suggestions! For those using Quickbooks or Xero, who set up your chart of accounts? Most of the examples that I have found are for retail businesses with inventory management, etc and not set up for logging purchases of hay and grain and paying for maintenance of farm equipment, etc. Do you use an accountant who has experience with the horse business or did you purchase a template from someone to get started?
Sorry that this sounds so naive but I know nothing about accounting!
My chart of accounts is very simple. It is only as complex as the business is. I have operating revenue, operating expenses, wages expense and payable, asset accounts and depreciation accounts, and receivables/payables. That’s really all.
My advise would be for you to use your business’s accountant to assist with your chart of accounts…and use the software that your accountant is associated with. For example, many small business accountants are hooked in with Qucikbooks which means they (with your permission) have direct access to your accounting system to assist with changes and with monthly reporting. That can save time and money. I’m not familiar with the other package, but there may be a similar arrangement available for that, too.
QB is a good one. Apart from the old one some other softs like Gnucash, ZipBooks, Sage is also great. You can go for premium softwares if you have a larger ranch or business otherwise you can go for the freewares. But nothing is full free in this world. Some of the options of those free accounting software is free but some are not. But you can give a try.
