Choosing Farm Accounting
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Choosing an
Accounting Program
Karisha Devlin
Agricultural Business Specialist
A Good Accounting System
Works for you
Right info at right cost
Good internal control
Keep it simple
Test run a program
Help/support
Pencil and Paper
Simple and inexpensive
“Trust”
Missouri farm business record book
Receipts
Expenditures
Cash flow summary
Profit and loss
Balance sheet
Enterprise forms
Pencil and Paper
Missouri farm tax record
Income and expenses
Depreciation schedule
Why use a Software Program?
Less time consuming than manual
bookkeeping
Generate reports
Keep track of inventory
Simplify payroll
Tax time
What are your needs…
What functions do you need the
system to perform?
What are other farming operations
using?
What resources are available and
what are needed?
Will your accountant be able to
read/open files at year end?
Tips When Purchasing Software
Hardware requirements
Ability to modify
Support services
User friendliness
Training
Annual support
Subscription services
Tips When Purchasing Software
Reports & documents
Consult your accountant
Review or test run the program
Exporting data to other programs
Payroll
Personnel
Cost
Disclaimer
The University of Missouri Extension is
not recommending or endorsing any
of the following products or
companies, we are simply interested
in helping you with your search for
tools to help you run and manage
your business better.
Software Packages
Quickbooks
Quicken
PC Mars
Quickbooks
Built for small business accounting
Easy to learn
More features and options
Single or double entry
Extensive reporting capabilities
Cost - $100 and up
Trial version
Quickbooks
Training
Website FAQ
Standard features
Payroll system
Inventory
Invoicing
Customer statements
Accounts receivable
Online banking
Quickbooks
No investment tracking features
Farm accounting
Quickbooks is nice for farmers with side
businesses
Seldom useful for farm inventories
Quicken
Built for personal finance
Very easy to learn
Flexible
Features for tracking investments
Training
Cost - $40 to $80
Trial version
Quicken
Reports
No inventory system
No payroll system
Limited support for invoicing,
receivables, etc.
Simple income and expense records
PC Mars
Single entry accounting program
Cash or accrual
Reconcile with bank accounts and
loan balances
Relatively easy to operate
Allows you to divide farm into
separate enterprises
Payroll option
PC Mars
Inventory capabilities
Built in budget and cash flow feature
Several different report options
Demo versions available
Prices
$225 – Members of IFBA
$350 – Non-members of IFBA
Websites
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Questions
Karisha Devlin
573-633-2640
