1 / 10

QuickBooks for Farm Business Recordkeeping

QuickBooks for Farm Business Recordkeeping. Jenny Vanderlin Assistant Director Center for Dairy Profitability Stan Schraufnagel Professor, Dept. of Ag Economics UW-River Falls. QuickBooks for Farm Business Recordkeeping. Statewide Workshops Since 2006

temple
Download Presentation

QuickBooks for Farm Business Recordkeeping

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. QuickBooks for Farm Business Recordkeeping Jenny Vanderlin Assistant Director Center for Dairy Profitability Stan Schraufnagel Professor, Dept. of Ag Economics UW-River Falls

  2. QuickBooks for Farm Business Recordkeeping • Statewide Workshops Since 2006 • Goal: Improve Basic Accounting and Record-Keeping • Instructors • Stan Schraufnagel, Professor Ag Econ • Jenny Vanderlin, Assistant Director, Center for Dairy Profitability • UW-Extension, County Faculty • Funding Source USDA – North Central Regional Risk Management Education Center, Agricultural Risk Management Education Competitive Grants Program, USDA Risk Management Agency, Commodity Partnerships Small Sessions Program, Center for Dairy Profitability, and UW-Extension.

  3. QuickBooks for Farm Business Recordkeeping - Audience • Producers • Improve: • Financial Skills • Problem Solving Skills • Identify: • Critical Issues • Plan for Farm Future

  4. QuickBooks for Farm Business Recordkeeping – Audience • Producers • Develop: • Accrual Financial Statements • Better Decisions Based on Accrual Accounting Practices • Evaluate: • Financial Performance of Farm

  5. QuickBooks - Structure • One day workshop • 6 hours (includes lunch) • 2010-11: 1.5 days • Computer lab with QB installed • Small groups – 25 Maximum

  6. QuickBooks – What we do… • Create Company file • Create & modify Chart of Accounts: create accounts, items, classes, customers, vendors • Record basic revenue & expense transactions • Lecture(s): importance, double-entry accounting, cash vs. accrual accounting

  7. QuickBooks – How we do it… • Lecture • Why record financial information • Types of transactions • Accounting Model: Assets = Liabilities + Owners Equity • Hands-on Demo • Lunch • Lecture • Double Entry accounting • Hands-on Demo

  8. QuickBooks – How we do it… • Work with UW-Extension County Faculty • Promotion, customer buy-in, computer lab • Hands-on: in computer lab • Two instructors: one “lecturing,” one moving around room • Teaching outline & take home manual • Jump drives

  9. QuickBooks - What We Learned… • “Liked Best” • Discussion & informal Q&A • Hands-on approach • Lots of information • Instructional booklet • Two instructors, no one fell behind • “Change” • More In-Depth Information • More on balance sheet & budgeting • “Add” • Another day, longer than 10-3 • More advanced topics

  10. QuickBooks - Questions/Discussion ? Stan Schraufnagel Professor, Department of Ag Economics UW-River Falls stan.a.schraufnagel@uwrf.edu 715.425.3176 Jenny Vanderlin Assistant Director Center for Dairy Profitability jmvander@wisc.edu 608.263.7795

More Related