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| From past experience, I would shy away from using "parts" for farm accounting. The items we produce are actually noninventory parts for cash tax accounting purposes. I beat my head against this a decade or so ago. You might find keep it simple applies. Keep separate ledgers or spreadsheets for production data. Just make sure quickbooks keeps the income tax and cash account balance information right.
Doing double entry accrual accounting, then cash taxes, for an inventory part you didn't bring into inventory (cost of goods sold), was more work than keeping separate ledger, and then few big not-tax-related summary general journal transactions in quickbooks for balance sheet.
Class accounting is handy to generate separate P&L report for different enterprises or whatever. | |
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Keeping track of bushels in quickbooks
