The difference between a good farmer and a great manager often comes down to knowing the true financial position of a farm. Good records make it possible to track an operation’s true financial position. Inaccurate records can lead to misguided management decisions.
A “Good Farmer to Great Manager” record-keeping class Sept. 17-18 in North Platte will teach farmers and ranchers to keep accurate records for their operations. This class will be held Sept. 17 from 1:30-5:30 p.m. and Sept. 18 from 8 a.m. -noon at the West Central Research & Extension Center (402 W. State Farm Road). The course fee is $50 per participant; class size is limited to 25 people. Register online at https://wia.unl.edu/GFGM
Keeping good records is less about using a certain software and more about gathering and organizing information, according to Tina Barret the Executive Director of Nebraska Farm Business Inc. and course instructor. “In this class, you will learn about what information you should have easily available as part of your farm or ranch records. When you have good records, everything from tax preparation, annual loan renewals, and financial analysis become much easier,” she said. “More importantly, it will allow you to make financial management decisions that improve your business.”
• What are Good Records?
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• Getting Good Tax Records
• Moving to Management Records
• Financial Statements & Ratios
This course hosted by Nebraska Extension and is inspired by Annie's Project. Annie's Project is supported by Farm Credit Services of America in Nebraska.