Farm Accountants and Farm Accounting Software Work Perfectly Together
Successful farm accountants wholeheartedly embrace farm accounting software because it makes them and their clients more effective.
When someone, the farmer, the accountant, or their bookkeepers input the correct information correctly into the farm accounting software – something a cave man can be trained to do, the output is accurate and provides the farm accountant with the information they need to do their most important job.
Filing taxes, creating P&L statements, doing the work up for audited balance sheets and all the compliance work farm accountants do – well those are tasks.
Their job is to provide their clients with insights, strategies, and support from their perspective as both an accountant and as a confidant.
A typical farm accountant keeps track of the money, files the various reports with the various agencies and entities the farmer is involved with. A typical farm accountant spends a large percentage of their time in compliance – defense and putting out fires.
Successful farm accountants, the type of advisor every successful farmer should be looking for uses compliance as it was intended, to report on what has happened – and they use farm accounting software to reduce the amount of time it takes, while remaining as accurate as it is possible to be.
Successful farm accountants focus their efforts on the offence – doing the planning, directly or indirectly, in advance that will make the next round of reporting more favorable than the last and the next even more so and so on and so on.
A successful farm accountant is above all an advocate and advisor to their clients. They know, for example that when two or more brothers/cousins etc. work together – that there will be issues.
Invariably those issues involve money. And since one brother can’t pick up and leave – taking his land with him, and move to the other end of the county and start over, the successful accountant will help them discuss creative ways to handle the money issues so the whole farm doesn’t sink because of a conflict about dollars.
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Peta Alexander, often called one of the most respected farm accountants in New Zealand, says that… “The only difference between the top ten per cent of farmers and the next group down is their timing.”
