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Record Keeping for Fruit Farm Businesses

Record Keeping for Fruit Farm Businesses. Developed by: Alison M. De Marree Cornell Cooperative Extension Lake Ontario Fruit Program, Winter 2014 Adapted by: Virginia Carlberg Cornell Cooperative Extension Chautauqua County. Why Keep Records?.

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Record Keeping for Fruit Farm Businesses

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  1. Record Keeping for Fruit Farm Businesses Developed by: Alison M. De Marree Cornell Cooperative Extension Lake Ontario Fruit Program, Winter 2014 Adapted by: Virginia Carlberg Cornell Cooperative Extension Chautauqua County

  2. Why Keep Records? • Required by law and government agency regulations • IRS, DEC, DOL, Organic Certifiers, Food Safety (GAP) Certifiers • To PROTECT your business against government agency audits (non-compliance fines) and lawsuits. • To increase profits, efficiencies, return on investment by monitoring labor use and expense as related to the income generated by various enterprises. • To evaluate progress by comparing set standards from one year to the next • For insurance reasons (to make claims) • To obtain a loan – required by financial institutions

  3. Two Categories of Records • Production Records: • Items that relate to quantities of inputs and levels of production by enterprise and/or by resource type: yields per acre, varieties planted and harvested, pounds or bushels sold

  4. Two Categories of Records • Financial Records: • Justify or prove farm income or expense transactions: Product sales, operating expenses, equipment purchases, accounts payable, accounts receivable, inventories, depreciation records, loan balances and price information. • Production and Financial Records are put together for a complete picture of your farms’ performance.

  5. Financial Record-Keeping

  6. Enterprise Record-Keeping

  7. Types of Records • Paper • Account books • Electronic Records • Use of spreadsheets (& smart phones) • Summarizing daily records on spreadsheets • QuickBooks, Quicken, Red Wing & Other Accounting Software • Back Ups! • Keep Hard Copies & Physical Receipts in Files

  8. QuickBooks • Version • Payroll features • Print Checks • Chart of Accounts • Assistance with getting started

  9. Cornell Farm Account Book • Paper- classic (green) • Excel

  10. What do you use?

  11. What tools do you use to record production data?

  12. What do you use to record labor information? • Labor is often the largest expense for farm operations • Are you gauging how well your labor force is performing? • What data can you have your field help gather for you?

  13. Employee Timecards • Hours • Job • Field/Orchard • Variety • Yield/Quantity

  14. Food Safety: Traceability Records • Increasing regulatory environment • Traceability- from field to fork • Good Agricultural Practices (GAP) Certification • Packaging labels

  15. Summary • Record-keeping is important for various external and internal factors • Financial Records and Production Records • Many tools available, paper and electronic • Consider labor logs • Consider food safety records and traceability

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