Ag Finance Advisor Tim Brhel recently spoke on-air with KRVN broadcaster Dewey Nelson about the importance of keeping accurate farm books year-round. He says bookkeeping is not something anyone should scramble around with at the end of the calendar year just to get their tax accountant off their back. Too many farmers approach farm bookkeeping with this attitude, not realizing they are missing the opportunity to utilize a tool that can bring them great insight for leading the farm to its goals more efficiently.
Brhel says frequently updated farm books not only give you a constant picture of the overall financial health of the operation, but they also help you plan and make responsible and well-informed input decisions not only for the current crop year, but also for heading into the next one. In fact, bookkeeping is key...But it's no secret that during busy times like planting and harvest, attention to a farm's books can slip through the cracks and get buried in all the other tasks at hand. He's got some tips to help farm leaders ensure that doesn't happen.
You can listen to the whole conversation from KRVN radio below.