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EC North Dakota | That i just as good a question as what will a car cost. How much are you willing to spend? How detailed are you wanting the enterprise analysis and farm profit and loss statements to be? How much time are you or your bookkeeper willing to put into learning the system you purchase to make it do what you want it to do? Do you want to do payroll from the system, have it handle W-2, 943, and W-3? How much time are you willing to spend on data entry to get the information out of the system, how often do you want to do your record keeping? How much time are you willing to spend on getting the chart of accounts
Not being a smart alec but I have been there done that. The current system I use can do all that and more than what I do with it. To get to this point I took over 50 hours to break down the way the system distributes entries to the enterprise and then to the farm before I even started to set any accounts up. I did have a computerized system before this system and used the existing chart of accounts as a a basis for the new chart of accounts when I switched.
Records are you best friend or your worst enemy depending on how you want them set up and how you use them. You do not have to be an accountant to make them work for you, but you do have to be committed to doing the work to get them to tell you what you want them to show you. I do not think there is any prepackaged chart of accounts that will fit all people, best to make them specific for what you need, you can use an example set and then customize them for you own use.
I spend approximately 10 to 15 hours per month doing data entry to my system to get it done properly. The more often I do it the easier it is rather than letting it all go for a once a month session. By then I have forgotten what some of the checks were for or where I want them distributed to.
Edited by JonND 1/23/2014 15:43
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Farm Accounting software
