Contact Us

Tag: bookkeeping

Getting Ahead of the Busy Season

TL;DR: Busy season is coming, and the best thing you can do is get ahead of your books now. Keep receipts organized, know what’s coming in and going out, and stay on top of things each month so nothing piles up. We’re offering 40% off your first two months to help you get started. Learn More About Earth Day Special Spring picks up fast. One minute you’re planning, the next you’re in the middle of planting, selling, managing orders, and trying to keep everything moving at once. And bookkeeping? That’s usually what gets pushed to the side. We work with farmers every day who are trying to keep up with their books while running their farm. Most aren’t doing anything wrong, they just don’t have the time. The goal isn’t to be perfect. It’s to stay a step ahead before things get busy. Here are a few simple farm bookkeeping tips to help you stay organized and actually understand where your farm business stands this season 1. Don’t Let Receipts Pile Up  It starts small: a few receipts here and there. Then suddenly it’s a stack you don’t want to deal with. Instead, keep it simple: Take photos of receipts as you go Upload them weekly Keep everything in one place This is one of the easiest ways to stay on top of your farm expenses without it turning into a bigger project later. 2. Know What’s Coming In and What’s Going Out A lot of farmers are working hard, but don’t always have a clear picture of their numbers. Before things ramp up, take a minute to look at: What’s bringing in income What you’re spending money on What’s actually left over This is the foundation of farm financial management. You don’t need complicated reports, just clear numbers you can trust. 3. Keep Farm and Personal Spending Separate When everything is mixed together, it slows everything down. It makes: Farm bookkeeping harder Cleanup take more time Taxes more stressful later Even just having one dedicated account for your farm business makes a big difference. 4. Set a System to Check-In Whether you’re doing a weekly, monthly, quarterly or bi-annual check-in, you want to dedicate time to your finances. If you’re doing this, you don’t need hours because you’re keeping up with a rhythm that works for your business. You’ll need to set aside time to: Review transactions Put them in the right categories (revenue vs. expenses) Make sure things look right Stay on track This is what keeps farmers from falling behind during the busiest parts of the season.   5. Don’t Wait Until You’re Already Behind Most farmers reach out when: the books are behind receipts are piled up or they need answers fast Getting ahead now gives you more control later. That’s the difference between reacting… and actually making decisions for your farm business.   Don’t Know Where to Start? Let’s Talk In the spirit of Earth Day, we’re offering a little extra support to help farmers get ahead before the busy season. Right now: 40% off your first two months of farm bookkeeping 6 months of free funding email alerts (grants, loans, cost-share programs) We help farmers with monthly and quarterly bookkeeping, farm financial reports (Profit & Loss, cash flow, balance sheet), bookkeeping cleanup, and finding funding opportunities.  You don’t have to figure this out yourself. We work with farmers to handle their bookkeeping and make sure you actually know where things stand instead of guessing. GET STARTED WITH US

Cash vs. Accrual

TL;DR: Most farmers use cash accounting for taxes because it’s simpler, but growing farms often use accrual to track true profitability. Here is how to decide which one makes sense for your farm business.    There are two main ways to track your farm’s income and expenses: Cash or Accrual. The most common method is cash filing, simply recording money as it hits or leaves your bank account. However, some farms choose accrual to see the bigger picture of their financial health.   This IRS breaks down the difference between the two. Here is our version specifically for farmers: What is Cash Filing? The cash method means you count transactions only when money actually changes hands. If you sell and get paid today –> today’s income If you buy seed and pay today  → that’s today’s expense It works just like your bank account: money in, money out. This is why most farmers use it—it is easier to manage and aligns well with the seasonality of farming (e.g., buying fertilizer in December to lower your tax bill for that year). What is Filing Accural? Accrual means you report income when you earn it and expenses when you incur them, regardless of when the cash actually moves. Let’s say you invoice a customer for seedlings but they pay you next month—accrual accounting counts for it today instead of next month.  If you sell a crop today, but get paid next month → accrual counts it today If you grab supplies now but pay later → accrual counts when you get the supplies Why do this? It helps farmers see the true profitability of their operation. For example, if you have a barn full of grain that you haven’t sold yet, cash accounting says you are “broke,” but accrual accounting shows you have valuable inventory assets. How Do I Known What’s Right for Me? Cash filing is default. If your farm is small or simple, cash is the most straightforward bucket. If your farm is growing, has significant inventory, accrual accounting might be necessary. You don’t have to figure this out yourself. We work with farmers to handle their bookkeeping and tax strategy, whether you file on cash or accrual.   Learn more about how we help farmers save time and money with our bookkeeping.

Farm Bookkeeping and Tax Tips Webinar Recording

Bookkeeping and taxes are two of the biggest stress points for farmers, especially heading into tax season. In this session, Good Agriculture CEO Alex Edquist explains how to read your financial statements, structure your chart of accounts using Schedule F, track revenue and expenses correctly, and understand depreciation.

Farm Bookkeeping and Tax Tips Webinar Recording

Watch the Advanced Farm Bookkeeping webinar recording to learn practical strategies for improving cash flow, budgeting effectively, and making data-driven financial decisions that strengthen your farm’s long-term profitability.

Advanced Farm Bookkeeping Webinar Recording

Watch the Advanced Farm Bookkeeping webinar recording to learn practical strategies for improving cash flow, budgeting effectively, and making data-driven financial decisions that strengthen your farm’s long-term profitability.

What is a Schedule F Form?

A clear guide to IRS Schedule F for farmers – what it is, who must file, and how to report farm income and expenses accurately for tax season.

The Business of Farming with ASAN

In this conversation with Rachel of the Alabama Sustainable Agriculture Network, Alex and Reba share practical insights on managing farm finances, planning ahead for tax season, and using business tools to help farm operations thrive.

Preparing Your Farm for Taxes Webinar Recording

In this webinar recording, the team focused on helping farmers understand what actually matters when it comes to taxes and how to prepare without scrambling at the last minute. Alex and Euna walked through the basics of farm taxes, including which forms farmers need to file, common deadlines, and how income and expenses flow through a farm business.

September 15th Tax Deadlines Are Coming!

The September 15th tax deadline is approaching. Learn what farmers need to file, how estimated payments work, and what steps you can take now to stay organized and avoid penalties.

Preparing for Tax Season Webinar Recording

Watch our tax season preparation webinar recording designed specifically for farmers. Learn how to organize your financial records, reduce stress at tax time, and make smarter decisions for your farm business.

Federal Funding Freeze – What Does This Mean for Farmers?

A federal funding freeze can create uncertainty for farmers relying on USDA grants, cost-share programs, or financial assistance. Learn what a funding freeze may mean for your operation, cash flow planning, and next steps to stay financially prepared.

Prepare for Tax Season with Us and a Tax Professional

Tax season doesn’t have to be stressful. Learn how proper farm bookkeeping and working with a qualified tax professional can help you stay organized, reduce surprises, and confidently prepare your farm business for filing season.

Advanced Farm Financial Management Webinar Recording

Watch the Advanced Farm Financial Management webinar recording to learn practical strategies for improving cash flow, budgeting effectively, and making data-driven financial decisions that strengthen your farm’s long-term profitability.

Farm Bookkeeping Basics Webinar Recording

Watch our farm bookkeeping basics webinar recording to learn how to organize financial records, track farm income and expenses, and build a solid foundation for smarter farm management decisions.

Lost in Bureaucracy: Uncovering EQIP Deadlines for Farmers

EQIP deadlines for farmers can be confusing and easy to miss. In this guide, we break down how the Environmental Quality Incentives Program works, key application timelines to watch, and practical steps farmers can take to secure conservation funding before deadlines pass.

It’s EQIP Season!

EQIP season is here, and now is the time to apply for conservation funding through NRCS. Learn how the Environmental Quality Incentives Program (EQIP) can help fund high tunnels, irrigation systems, fencing, and other farm improvements—and how to prepare your application before deadlines close.

Building a Regenerative Farm – Paying Your People

Building a regenerative farm means investing in your people. Learn how to budget for farm labor, set fair wages, and build a financially sustainable team that supports long-term soil health and farm profitability.