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Case Study

Managing Accounts for a Horse Syndicate

Problems:

  • Multiple Suppliers of Services – Trainers/Breeders/Vets/Transport
  • Some Suppliers may have a share in a horse in the Portfolio
  • Multiple Currencies
  • Calculating Total Charges to the Syndicate with audited trails
  • Maintaining Company Books of Account with Single Entry Input

Solution:

Equisoft Horse Management with Exchequer Enterprise Accounts

The Equisoft System contains all the details on the horses within the syndicate. Full horse records with Ownership, movements, vet, racing & breeding data.

Clever Bit:

  • The Supplier Invoices are entered in Equisoft at horse level.
  • Equisoft creates Purchase Invoices and Sales Invoices to be automatically sent to the Exchequer Accounts System in the correct currency.
  • Nominal ledger is kept in balance in home currency.

Case Study

Result:

Syndicate receives a Monthly Statement of Account, showing Supplier, Purpose of Invoice, Horse, Percentages, Currency, along with Vat and Charge to Syndicate in the home currency.