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southern MN | I have a very small farm, one person (plus more help from my wife than I ever give her credit for) operation. So my way would not work for most anyone else tthese days.
Basically, all the reciepts get stuffed into a drawer or shoebox. I keep a running average of what I have going on $$$ in my head.
After Christmas I sit down with a calculator and lots of Dr Pepper, and put it all down on paper in some form another human being can understand.
Give it to my CPA, and most often my quick estamate of where I'm at is a tad closer than his quick estamate.
This is not a good system for others to emulate, tho, other than having a good farm-aware CPA - I recommend that to everyone, his advice to me in our 1/2 hour meeting at tax time is worth more than his cost. (Don't tell him that tho, he'll charge even more....)
My head happens to keep track of numbers fairly well, and my operation is small enough to not have too many things to juggle.
I bought a farm accounting package a couple years ago, but - sadly it's still in the box. It is easier for me to keep running totals in my head, than to put things down weekly or monthly.
I would not make a very good business person in most walks of life......
You asked, so that's my poor system.
--->Paul | |
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bookkeeping question
