Oftentimes farmers seems to believe they have to wait until the balance sheet arrives for the current year before they should start looking at and planning for the coming year. You could be waiting as late as February for that...which doesn't leave you enough time to use that data in your decision-making for the beginning of next season.
Our ag finance advisors begin laying the groundwork for next year's crop before the current crop's harvest even begins. Once harvest finishes, they'll jump right in with their clients to start making more accurate accrual-based projections and planning for next year's expenses before even receiving that balance sheet. Later on they'll make any necessary tweaks and adjustments once it has arrived.
In his latest Finance First post on FarmFutures.com, Darren Frye explains why we do things this way, and the benefits our clients receive from this proactive approach to formulating projections.