Livestock Auction Software Accounting
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Answer
I have a friend who also owns and operates a livestock auction, so I am familiar with the processes. If you had a small sales volume and calculated all of this by hand, QuickBooks would be a good way to enter and track your financial information in summary form, but you are wanting to computerize all of your clerking procedures. In this case, Quickbooks, if it would work at all, would be way too cumbersome and time consuming to use for this purpose.
I would highly recommend that you explore specialized software for your industry, as my friend did. It enables you to lot the cattle for both seller and buyer and transfer between those lots if necessary. It handles commissions and prints the settlement checks and bills, as well as the reports required by state agencies and the P&S. It also tracks trucking fees and cuts a check for those from the sellers proceeds.
In short, as you well know, you have very specialized situations in your business. An investment in specialized software would make life much easier for you and your clerks and pay dividends for years to come.
I hope this helps some. Thank you and good luck with the business.
Comment
What is the name of the software that your friend uses? I have searched online. I have found one company in Texas which has the software for livestock auctions, but their charge is $375 per month. They do not sell it. We have a very small livestock auction(goat and poultry along with some calves). Our business cannot pay $375 per month.