Bookkeeping is an important part of maintaining a financially savvy farming operation and it’s fair to say the time spent in the books and crunching numbers typically isn’t a farmers’ favorite part of the job. Not to mention, finding the time to do it is a whole other piece of the puzzle. As we enter into a time when many farmers are finishing harvest, record keeping is top of mind and conversations are starting with their farm accountant or ag lender, Farm Futures shares four recommendations to cut down on bookkeeping time:
1. Consider trying out a cloud-based farm management software. This can help reduce down hours of time and is easier to share with others who need to see it.
2. Connect bank and credit card accounts to your management system, where you’ll have the option to automatically download data, reducing input and reconciliation time.
3. Reconcile every month. While it may feel repetitive and add more time, it will actually save time and energy in the long-run.
4. If you don’t enjoy or feel confident in the bookkeeping process, consider hiring someone to help manage them for you and use the extra time for family, friends or your health.
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