1 / 30

Quicken® or QuickBooks® for Farm Financial Records

Quicken® or QuickBooks® for Farm Financial Records. Damona Doye damona.doye@okstate.edu 405-744-9813 Extension Economist and Regents Professor Sarkeys Distinguished Professor OSU Agricultural Economics Department. Possible motivations for keeping farm records.

nile
Télécharger la présentation

Quicken® or QuickBooks® for Farm Financial Records

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Quicken® or QuickBooks® for Farm Financial Records Damona Doye damona.doye@okstate.edu 405-744-9813 Extension Economist and Regents Professor Sarkeys Distinguished Professor OSU Agricultural Economics Department

  2. Possible motivations for keeping farm records • Keep what is needed for tax purposes • Be prepared for the unexpected • Planning ahead • Communications • Employee management • Business analysis • Be able to accurately identify shares of income and expenses • Determine cost of production per unit • Know where profit (and/or loss) centers are in the operation

  3. Everyone should use Quicken.* • Some should also use QuickBooks*. * Or a similar product. No endorsement of a specific commercial product is intended or implied.

  4. Quicken QuickBooks • Inexpensive • Flexible and easy to use • Cash accounting • Personal finance • Family living expenses • Off-farm income • Investment income and expenses • Not expensive • Less forgiving and less easy to use • Accrual accounting • Small business finance • Invoicing • Accounts payable/receivable • Payroll Use

  5. http://quicken.intuit.com/compare-quicken-personal-finance-software-products.jsphttp://quicken.intuit.com/compare-quicken-personal-finance-software-products.jsp

  6. Desktop products for Small Business

  7. Quicken QuickBooks • All manual • Create categories, accounts • Calculate • Payroll subscription service • Employee records • Manual can be enabled Payroll

  8. Quicken QuickBooks • Banking • Comparison • Spending • Tax • Easy Answers • Graphs • Also, customized folders for reports • Company & Financial • Customers & Receivables • Sales • Jobs, Time & Mileage • Vendors & Payables • Employees & Payroll • Banking • Accountant & Taxes • Budgets Reports

  9. Quicken reports and graphs • Cash flow • Tax schedule • Transactions • Account balances • Comparison • Filtered • Memorized • Balance sheet

  10. Quicken QuickBooks • Memorized transactions • Financial calculators • Lists • Items • Vendors • Customers • Employees Other

  11. Quicken QuickBooks • Videos • Forums, blogs • Quicken Inner Circle • Online assistance • QuickBooks coach • Videos • Live Community Facebook Twitter Youtube Linked in Assistance

  12. Cool things in both Quicken and QuickBooks • Date: Y, R, M, H, T • Find/replace • Attach • Download transactions • Import/export • Graphs • Backup

  13. Records for farm tax purposes “It is easier to do a job right than to explain why you didn’t.” … Martin van Buren

  14. Records for being prepared

  15. Records for planning ahead

  16. Records for communications

  17. Records for employees

  18. Records for business analysis

  19. OSU Quicken resources • Print materials plus video on-line at www.agecon.okstate.edu/quicken • $25 for printed notebook and CD with sample files • Quarterly Quick Tips farm management newsletter

  20. www.agecon.okstate.edu/quicken

  21. In PODS… • AGEC-266, Quicken or QuickBooks: What’s the Best Choice for Agricultural Producers? • CR-324, Quicken for Farm and Ranch Financial Records • CR-2133, Crop and Forage Recordkeeping Software • CR-3279, Cow-Calf Production Record Software

  22. Recordkeeping suggestions… Start simple Be Be consistent disciplined Be Get assistance enthused!

  23. Questions? Damona Doye damona.doye@okstate.edu 405-744-9813

More Related