Success in the equine industry boils down to a simple formula. You need healthy animals; you need qualified people to train and care for them; and you need robust equine accounting software to keep the whole operation funded and organized.
Any equine business is set for success with all three in place—but success becomes elusive or impossible with any missing piece.
Many people who enter this industry have a deep equine background, so they know how to pick horses and trainers. For that same reason, however, they have less experience selecting accounting software. That might cause some to pick less-than-ideal solutions without realizing the mistake.
Later, when business issues arise, the accounting software is the likely culprit. It causes more chaos and consequences than most realize, making it a potential problem to be worried about…and a possible solution to be excited about.
Indicators You Have the Wrong Equine Accounting Software
- Overwhelming Chart of Accounts: The scale becomes unmanageable yet keeps growing.
- Lengthy Month-End Close: It takes hours of manual data manipulation every single month.
- Painful Multi-Entity Management: There’s no easy way to get everything in one place.
- Insufficient Reporting Capabilities: Reporting takes too much time and reveals too little.
- Outdated Financial Metrics: Data is days or weeks old because updates are take too much time and effort.
Put Success in the Saddle with Sage Intacct
Whether it’s Microsoft Dynamics GP or QuickBooks, some of the biggest accounting solutions on the market are also the wrong choice for equine businesses. They make accounting more difficult than lean and agile operators want it to be. Despite the complexity, they don’t have the necessary features.
Sage Intacct reverses that equation, making sophisticated accounting simple and streamlined for equine businesses of any breed.
This cloud-native financial management platform brings all financial data and every accounting tool together on one platform that’s accessible anywhere—farm, office, racetrack—with Internet access. Coordination, visibility, and efficiency all multiply with a cloud accounting such as Sage Intacct.
Business intelligence amplifies as well thanks to Sage Intacct’s dimensional chart of accounts, which makes data easier to input and extract from the general ledger. Accountants save massive amounts of time on routine accounting tasks that they can redirect towards reporting using Sage Intacct’s powerful and intuitive tools. So much data management gets replaced with financial analysis, forecasting, and planning instead.
With the ability to collect, consolidate, and consider all financial activities in one place, Sage Intacct gives equine businesses what few have but all need: real-time insights into financial and operational performance. Dashboards track and update key metrics automatically to give business leaders at all levels the numbers they need to make informed decisions more likely to have the intended outcome.
Sage Intacct doesn’t guarantee success—but it puts all the pieces in place (besides the horses and trainers).
Put another important piece in place by partnering with Dean Dorton: a Sage Intacct implementation provider with deep expertise in accounting and decades-long experience serving the equine industry In Kentucky and around the world.
Make the transition to Sage Intacct as smooth and successful as possible. Contact us.
