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QuickBooks or Quicken & Farm Accounting Resources Joe Horner Extension Dairy/Beef Economist Commercial Agriculture Program Learning Objectives Understand which farmers to guide to Quicken and which to guide to QuickBooks.

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quickbooks or quicken farm accounting resources

QuickBooks or Quicken& Farm Accounting Resources

Joe Horner

Extension Dairy/Beef Economist

Commercial Agriculture Program

learning objectives
Learning Objectives
  • Understand which farmers to guide to Quicken and which to guide to QuickBooks.
  • Become aware of the new MU web page: Farm Accounting Resourceshttp://agebb.missouri.edu/mgt/mofar/index.htm
  • Share ideas for future farm accounting tool development and dissemination.
quicken vs quickbooks5
Quicken vs. QuickBooks
  • Neither was built for farm accounting
  • Quicken was built for Personal Finance
  • QuickBooks was built for Small Business Accounting
  • QuickBooks is true double entry accounting with a General Ledger available. Remember Debits and Credits?
  • Some accountants are pushing QuickBooks as a standard for their small business clients.
key issues
Key Issues
  • QuickBooks inventories, invoicing and other forms are really nice for farmers with side businesses.
  • Two other good points: excellent payroll capabilities, excellent 2 stage accrual A/P and A/R process available but not mandatory.
  • Key warning: If farmers don’t keep records weekly forget the 2 stage process. Stay with Quicken??
version get quickbooks pro
Version? Get QuickBooks Pro

Every Report can be popped into Excel by just hitting a button.

This becomes a real need if you want balance sheets, (Keep Book Value on QuickBooks, pop to excel for Market Value quick editing.

Also key to being able to create/edit enterprise reports.

which farmers to guide to quickbooks
Which farmers to guide to QuickBooks?
  • Do they like accounting?
  • Do they have several employees?
  • Do they keep their records up to date weekly?
  • Are they having problems managing Accounts payable or Accounts Receivable?
  • Do they have a side business with inventory?
farm accounting resources new web page
Farm Accounting Resources New Web Page
  • Created to be a “one stop shop” to link to all of the farm accounting resources MU offers.
  • Created to take farmers, adult educations, extension agents, & ag bankers to best farm accounting resources on the web.
  • New – 9/17/2001. Work in progress. Suggestions welcome.
  • More to come……
ideas for farm accounting resources web page
Ideas for Farm Accounting Resources Web Page
  • FBMA Quicken chart of categories link will be added.
  • List of local contacts will be added: adult ag educators & extension.
  • More QuickBooks tools.
  • Comments and Suggestions?
summary
Summary
  • Which farmers to guide to Quicken and which to QuickBooks.
  • New “Farm Accounting Resources” page http://agebb.missouri.edu/mgt/mofar/index.htm
  • More projects in development.