Computerized Farm Recordkeeping Workshop

Computerized Financial Recordkeeping workshops have been one of the most popular in-depth Extension programs offered.

Registration will be limited to the first 18 farm operations on a first come, first served basis. There may be one or two people from the same operation at a computer. The registration fee is being covered by generous support of the First National Bank Northeast and will cover computer rental, handout materials, lunch and refreshments. Even though the registration fee is covered, you must contact the Extension office to reserve a spot.

No prior computerized recordkeeping experience is necessary. However, some prior experience with a hand-kept single entry accounting system (such as the extension blue book) would be useful. At a minimum, participants should have experience with keeping a checkbook ledger, (preferably one that is periodically reconciled with bank statements).

As in past years, all instruction will be presented in a hands-on teaching style with participants sitting at computers performing the tasks being demonstrated. Participants, therefore, should have a basic familiarity with using a computer and typing on a computer keyboard but typing is purposely kept to a minimum in the interest of time.

All workshops are taught by a team of Extension Educators. One Educator leads the discussion and the image from the instructor's computer is projected on a screen. The other Educators on the team will circulate and give individual help as needed. In addition to seeing the actions projected keystroke by keystroke, participants will also receive step-by-step written instructions for all tasks being demonstrated. These handouts are intended as a guide in the classroom and to serve as references as participants set up their records at home. Many folks comment that the handouts are one of the best aspects of the training.

To save time, much of the instruction on generating reports will be done using sample data files that have been created to represent a typical crop & livestock farming operation. Specifically, participants will receive instruction on:

• Setting up and starting your financial recordkeeping system.
• Developing a customized chart of accounts to track income and expenses.
• Entering transactions into the ledger (single transactions and deposits or checks which should be split between multiple categories).
• Retrieving information from your recordkeeping system in the form of various reports.
• Setting up and making payments on term loans within the recordkeeping system.
• Reconciling the ledger with the bank statement.
• Backing up your data and frequently asked questions.
• Manipulating your farm record data in Excel to create a Cash Flow Plan, a Balance Sheet and an Income Statement.

The concepts taught in this workshop are applicable to several inexpensive computerized record keeping software programs, with slight modifications in procedure. This workshop will be taught hands-on using Quicken 2008 BasicTM in the classroom.

Even though 79% of the 2007 participants indicated they had been keeping records in an account book or on the computer prior to attending this workshop, as a result of participating in this workshop, 77.2% of participants said they learned to keep a more complete set of financial records, 80.7% said they learned to keep a more accurate set of financial records and 91.2% said they learned to pull information out of their computerized records in the form of computer generated reports which will help them make better informed management decisions regarding their farming operation.