Expenses that are purchased and paid for in advance are classified as prepaid expenses. For example, a horse stable may purchase fire insurance to protect the business from unforeseen occurrences. The following will show how to account for a fire...
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Gambling Winnings and Taxes
A former co-worker of mine has a son who was asked to tell his teacher what the four seasons are. He said, "Summer, Fall, Winter and Tax Season!" ...
K.I.S.S. – Keep it Simple, Sweetie.
Recently, I worked on a software customization project in preparation for implementing new software. I realized rather quickly that the input methods that were being used were a bit confusing. The data entry process had too many paths. People who...
Dear Santa, I Want a Pony for Christmas
Dear Santa, I Want a Pony for Christmas. Thank you,Bonnie from Greenwood Dear Bonnie, Taking care of a pony is something very special, but it is a big job. You were very good this year and you deserve a...
Rein In Cash Reconciliations
Friends of mine owned a business and they kept their financial records on QuickBooks. Every month when they received their bank statement, they opened up QuickBooks on their computer and reconciled their cash transactions with their bank statement. Because they...
Say “Whoa!” to Fraud!
Have you ever watched a Western movie and noticed the cooks? Ok, I have to admit I found the horses a lot more interesting. However, the cooks had the power of the triangle. They would ring the wrought iron triangle...
Math, Music and Horses
What in the world do math, music and horses have in common? A few words that come to mind are rhythm, footfalls, drill teams, dressage, number of strides, timing, counting... I get goose bumps watching dressage riders and their steeds...