Financial record keeping is critical for farm businesses. At a minimum, the records support completion of the annual income tax forms and documents. Having accurate and accessible data makes tax time smoother and less stressful. Recordkeeping can do more than a tax return. Records can be utilized to manage critical farm input expenses; calculate cost of production; allocate income and expense to each farm enterprise, farm or field location; build reports that describe the farm finances in real-time; and lead to stronger financial documents, such as the annual balance sheet and income statement.
Is it time to re-evaluate how the farm keeps its financial records? If so, Ohio State University Extension- Seneca County is pleased to offer a Farm Accounting Workshop with Quicken. The workshop will be held at the Seneca County Extension Office on Feb. 20, 2025 at 9:30 a.m. to 3:30 p.m.
Quicken is a simple cash accounting system. This single-entry system allows users to record all income and expenses of both the farm and family. It is popular with farmers due to the ease of data entry and its annual subscription price of $75 to $135. Maybe Quicken has been thought about, but you think it won’t work for a home and a farm business, or you would like to see how it works before making the commitment of purchasing.
Workshop participants will use example farm data to learn how to set up accounts, categorize income and expenses, run tax reports, explore recording farm production data, and track income/expenses across tax years and cash flows by enterprise. The hands-on workshop uses an OSU Computer Lab with Quicken Classic Deluxe software installed. Participants receive workshop manual/home reference with each registration. Participants must be familiar with keyboarding and using a computer mouse. This medium-paced workshop will use a variety of farming examples to maximize the learning experience.
Registration is $65 per farm business (2 people per computer). Space is limited to 10 farm businesses. Registration deadline is Feb. 13. To register, call 419-447-9722 or visit the extension office at 3140 South State Route 100 in Tiffin. For more information visit
https://go.osu.edu/quicken