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Tools exist to make farm record keeping better
Missouri
With 2004 now over, it is time to think about finishing up those farm records.
"While you are putting the finishing touches on those 2004 records, you may be thinking that you need to make some improvement in your current system" says David Whitson, agriculture business specialist, University of Missouri Extension.
One recommendation is to stop putting receipts and bills in a shoe box and start using some other easy paper system for agriculture.
"For example, the "Missouri Farm Tax Record" is available at all extension centers for a minimal fee. This record book is an easy way to record monthly receipts and expenses," said Whitson.
Others may want to take a step up and use a computerized system. There are several systems designed specifically for agriculture that do a good job of helping to separate out the cost for different farm enterprises.
"Some of these systems are great for a full-time farming operation, but may be a little too costly for many of our part-time farmers here in Missouri," said Whitson.
A number of farmers are also using inexpensive computer programs such as "Quicken" or "Money" to keep simple farm records.
"With a little adjustment, these programs can be designed to categorize the income and expenses into the categories found on the schedule F farm tax form and print out the information so it can be entered in the form. These programs can also be used to keep your checkbook in balance, write checks and develop financial reports," said Whitson.
If you need help in selecting a record keeping system, call either one of the two University of Missouri agriculture business specialists in southwest Missouri: David Whitson in Newton County at 417-455-9500 or Dr. Gordon Carriker in Christian County at 417-581-3558.
Date: 1/27/05
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