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| hoopsfarm
Your spreadsheet may work well for you, that is how I started 45 years ago by hand and later on computer.
It is very important to understand the process, I have been using quickbooks for the last 14 years without upgrading every year it works for me.
I do strictly on a cash basis and make adjustment on the end of the year for inventory, prepaid inputs, outstanding unpaid expenses changes so I have an accrual record for my self.
I can honestly say that I understand accounting can read and understand financial statements ect. I file my own farm income tax returns.
Years ago (30 ?)I toke a course to learn computerized farm accounting the accrual way and from there you could distill your profit or loss on a cash basis for income taxes.
The idea appealed to me but found it just very confusing cumbersome unpractical, in short I could not make it work well.
My take on it John | |
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Farming Spreadsheets
