What is a farm record? A farm record is a document in most cases a book that is used to maintain accountability of different activities, events, materials, etc. Farm records are different from farm accounts in the sense that farm accounts deal with the financial aspects of all farm operations. Farm accounts deal majorly with the farm expenditures and income and help the farmer to evaluate how his business is doing. Lenders, government agencies, insurance companies, and several other bodies demand good records before providing help to farmers.
Extension Agents of Agriculture Agencies sometimes want good records kept by farmers to be able to give them good technical advice on their farms. Farming is a business and excellent farm records keeping helps the farmer to plan and do realistic forecasting. A record keeping provides valuable information on the techniques that work and why others did not.
In budgeting, the farmer can better predict price changes of inputs and make from expenditure and sales records kept from previous seasons. The farmer can determine how much is necessary for farm expansion from good farm records. A record on rainfall incidence and amount over a period of time is very relevant. A farmer, from the records, decides when to plant and when to take out other activities on the farm.
More so, farmers who depend solely on rainfall, use these records as a guide during the farming season. Besides, temperature changes have significant effects on plants, especially at tender stages. It is, therefore, important for farmers to have a fair thought on temperature changes at certain times in the season. We advise farmers to keep an easy rain gauge and thermometer for the measurements of rainfall amount and temperature respectively. A farmer most of the time is not able to give proper accounts on their cash inflows and outflows.
Keeping accurate records will at any time of reconciliation, give the farmer the accurate amount of money spent or gained from the farm. Moreover, this helps in accurate planning and budgeting.
A farmer who keeps records on seed germination rates of the seeds bought is in a better position to choose better seeds for seasons. Besides, records keeping help to decide the right type of crop to grow on a particular type of soil , at a particular time of the season for best yield and better pest and disease management. In the case of livestock , the farm keeps farm records of the bloodlines, pest, and diseases, feed types and consumption, etc.
These records help to stop inbreeding, control pests and diseases, supply the best feed for optimum performance and a whole lot. Farmers cannot continue to avoid this activity for the cause of time consumption or any other. So we advise that spending an average of ten minutes each day on the farm to keep farm records is very much worth it.
It will save the farmer time and money. Read: Nematodes in Agriculture. What are the types of farm record? There are different types of farm records a farmer must keep to running a successful farm business.
They are;. These are the records of all important daily activities and events that occur on the farm. These records help the farmer maintain track of past farming activities and plan for future activities. Your Schedule F is included in these reports, making tax time a snap. FarmBooks has robust support and training options and also provides remote support to help you make sure you are using this farm accounting software correctly and getting the maximum benefit from all the features.
If you have more than one farm, you can contact them for special pricing. With just your cell phone and the Receipt Bank app, you can snap pictures of receipts and documents and know they will be safely stored in the cloud for later use and review.
This eliminates the hassle and stress of keeping — and finding — your important financial documents at tax time, during an audit or while applying for financing for your farm. If you are using a QuickBooks product, you can integrate Receipt Bank with it to save you hours each month on data entry. Read Review. Wave Financial Free add-ons available. A version of this article was first published on Fundera, a subsidiary of NerdWallet.
QuickBooks Online: Best cloud-based farm accounting software. FarmBooks: Best farm accounting software for reporting. Receipt Bank: Best for record retention in conjunction with farm accounting software. Show More. QuickBooks Pro: Best overall farm accounting software. Farm accounting software: What to consider. Here are some factors to consider. QuickBooks Desktop Pro. Back to top. QuickBooks Online. Shop Now. Bookkeeping and accounting software.
On a similar note QuickBooks is one of the most popular accounting software solutions to date, and can be used to manage the accounting processes involved with running your farm see: Is QuickBooks A Farm Accounting Software?
Given the low cost of entry and overall affordability of QuickBooks compared to other options, the software is very attractive to many first-time software buyers. However, agricultural producers who seek an inexpensive way of handling their management tasks should seek elsewhere. QuickBooks will not be able to handle the management tasks and production monitoring that is included with any farm management software. Precision agriculture mapping has been on the rise for many years in the farming industry.
Satellite imagery can be seen as a boon in farming, which can provide daily or weekly crop images for farmers that subscribe to specific services. In combination with UAVs, manned aircraft, and ground-based sensors, the crop producers will have a large wealth of images to improve the management of their crops.
Talk with a Software Expert…. Farm Management Software Get the best farm management software for your business. Get a free consultation from an independent system expert.
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