What Your Current Farm Accountant Doesn’t Know

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agrisolutions 15 things to know about farm finances ebook

field-dataWhat you don’t know can hurt you.

what you don't know won't hurt youThe old saying, “What you don’t know can’t hurt you” couldn’t be further from the truth when it comes to your farm financials. Your farm financials are more valuable to your operation than a set of forms filed with the IRS annually; they’re the road map of your operation, telling you not only where you’ve been but also where you’re headed. If your current farm accountant is only providing you with tax records, you’re missing out.

 

Gain a detailed understanding of your farm business.

AgriSolutions' accountants are able to delve into your financials to help you understand your farm business on a whole new level. Our accountants customize your data to give you information such as

  • Segregation of commodity profitability
  • Profitability by farm and/or field
  • Cost per acre
  • Trends by farm and/or field
  • Equipment costs per acre

 

Have the information you need to make smart management choices.

Most businesses won’t continue to market a product if it isn’t profitable, and neither should you. If you could identify the profitability of each of your fields, wouldn’t that be invaluable information? Our farm accounting allows you to take this financial information back to landlords, potentially allowing you to negotiate rents. We have seen many of our clients do just that. If a field isn’t making a profit, then this allows you an opportunity to evaluate and make necessary changes.

Evaluating your farm on a “tax accounting” level won’t give you the vital information needed to make management decisions. Having in-depth information gives your operation a strategic advantage. You need to know if even one single field is consistently losing money. Our agricultural software can help identify these anomalies so you can make informed decisions relating to fields that have a negative impact on your bottom line.

Not only can our farm accountants help you see your profitability, but we can also help to predict your profitability. We can help you create a detailed farm budget down to the field level to inform your decisions about the upcoming production cycle—before you even plant one seed in the ground. Then, we can use this information to help you make sure your operation stays on track until the very last bushel of that crop cycle is sold.

 

AgriSolutions’ agricultural accounting experts are here to help.

How valuable is the ability to put a price on your remaining inventory and run your financials as if it was all sold, allowing you to see your net profitability at any time? You need to know what your greatest expenses are and what your return is on those expenses. The accountants at AgriSolutions understand agricultural accounting and what your figures mean to your farm business. Don’t work for your financials; make your financials work for you!

Explore Agricultural Accounting

Written By

Jill Miller

Jill Miller

Marketing Manager

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