Record keeping at home isn’t always that much different than a business. Invoices, spreadsheets and checks strewn across a kitchen table or a computer desktop? This topic came from an interesting source. The Tri-State Livestock News brought us this information in their article, “For the records: Better access to information leads to better financial decisions.”
For farmers, ranchers and rural small business owners, managing records and finances have moved into the information digital age. Online record keeping software can handle the huge amount of information that may have once lived in piles of papers in boot boxes. With the ability to track bank accounts and sync to the statements online, the management of the information is centralized and most importantly, accessible.
Record keeping and measures of profitability can guide producers along the way. While farms and ranches are oftentimes similar to other businesses, they’re also different. Until a producer has several years of historical data specific to that operation, a record of cash flow helps producers make timely decisions as unexpected events and expenses arise.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.