That Boosts Your Farm Productivity

Elise Williams

2022-06-22 17:56:10 • Filed to: Accounting • Proven solutions

As a farmer, it’s imperative to have accurate and up-to-date farm accounting software. Every farmer yearn to get more produce and at the same time lowering resources and production costs. Thus, it’s of essence to keep track of everything happening in the farm. However, manual accounting procedures are full of errors and time-consuming. Seeking help from experienced external account sounds right but the services do not come cheap. So, what’s the viable option?

The farm accounting software Australia is considered the best because they’re tailored to meet farmers’ specific demands. This article sheds more light on top 5 farm accounting software.

Top 5 Farm Accounting Software

Farm accounting applications are specifically designed for ranches, farms including other agricultural entities. The software help the farmers to do the following:

Tracking inventory for livestock or perishables
Tracking sales and losses
Tracking inventory such as weaning weights, deaths, births etc.

A good accounting software for farms have features that perform the following:

Asset depreciation
Budgeting
Inventory planning/management
Purchase orders

No.1 FreshBooks

FreshBooks provides a pool of accounting solutions to farmers. It’s not accounting software for farms only but also used in fields like marketing and home services. Its features are top-class and can be used to accomplish the following:

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Payment planning/management
Time tracking
Expense tracking
Invoicing
Financial reporting/recording
Accepting online payments
Taking pictures/snapshots of receipts
Attaching receipts
Developing recurring bills/expenses
Branding invoices

Farmers can either choose classic or new versions. The new versions do not have some old features, though. The best part’s that the upcoming versions have extra features.

Pros

You can attach receipts
It’s simplifies the tracking and tax collection processes
Multiple ways to invoice/track
Devising recurring invoices is simple

Cons

You are always prompted to upgrade
‘Expense upload option’ is not complex to use especially if you’re newbie

No.2 ZipBooks

ZipBooks provides a range of accounting solutions which includes:

It is also quite useful for generating reconciliation and tax reports in order to file tax returns at the end of the financial year. As well, Real Estate agents use it to track conversion rates on a monthly or annual basis and also to provide insights into productive sales leads over a given period.

Budgeting
Financial recordings/reporting
Financial forecasting
Core accounting

Its interface is easy to use, even farmers who do not know much about computers can use the software. Accounting operations are accomplished in real-time. Farmers can customize some features to match their specific tastes.

It’s entirely a cloud-based platform that offers exceptional payment solutions for small and large scale farmers. Specifically, the farmers can develop personalized messages, themes or invoices using this software. Moreover, it offers a range of online account functionality like:

Bank reconciliation/integration
Accounts receivables
Invoice financing

Pros

Developing tasks/projects
Creating recurring invoices
Reminders are computerized
Printing accounting/financial reports
Sending and receiving payments directly in the app

Cons

A lot of features cannot be customized
Tasks or projects can only be developed in advance.
Only cloud based

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No.3 Xero

Xero was established in 2006 and it has position itself as a giant accounting software for farm business since then. The software makes it easier for farmers to track the financial situation in real-time. In addition, it’s web based, allowing farmers to quickly access what they need provided they have functioning devices and internet connection.

Xero is unique because of its robust features. It allows the farmers to do the following:

View cash transactions
Track money flows
Access account details or data from anywhere.
Make transactions electronically

Pros

Has user-friendly interface
Has robust features
Great user help/support
Free trials for 30 days
Track financials/transactions
Integrates with Vend, ADP including other systems

Cons

Finding invoicing features is a bit lengthy

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No.4 AccountingEdge

If you’re wanting easy farm accounting software then AccountingEdge should top your list. It’s compatible with Windows OSs as well as Mac. Farmers can achieve the following by using AccountingEdge:

Tracking purchases/sales
Building/tracking inventory
Billing and managing contacts
Running/creating payroll

AccountingEdge also has many impressive features, e.g.

Purchase orders
Banking
Payroll
Inventory
Time billing
Invoicing/quotes
E-commerce/ Set up Shopify

Farmers can use it to develop invoices, quotes as well as orders. Also, it allows processing of payments. In specific, its banking tools make it easy for farmers for the farmers to do the following:

Make bank deposits
Send/receive funds
Reconcile accounts
Do electronic transactions
Print checks
Track purchase bills/orders

Pros

Excellent features
User-friendly interface
Suitable for small scale farmers

Cons

Customer service is not that good
Some features are missing

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No.5 Trimble

Trimble is loaded with powerful features that help farmers handle their financials or invoices with much ease. Below are some of the tools available:

Cash/money flow budgets
Payroll
Various financial ratios (the farmer knows what’s right for his/her farm)
Ledger

The bundle options available are Farmer Basic, Farmer Pro as well as Farmer Pro Plus. The Farmer Basic is the cheapest while Farmer Pro Plus is the most expensive.

Pros

With this accounting software Australia, farmers can accomplish a lot of things, for instance:
Tracking/entering bills, payroll records, transactions or expenses using accounts payable/receivable
Storing records such as number of livestock, sales, purchase and lots more
Printing out cash flow statements, financial reports, balance sheets etc.
Calculating working hours/printing time sheets
Exporting balances easily to QuickBooks
Tracking land improvements, depreciation amounts, livestock etc.
Ability to calculate FICA as well as stating withholdings

Cons