Tracking farm expenses is often the most difficult record-keeping challenge. The larger farm suppliers may supply monthly or annual statements, but it is often the little things that fill up the shoebox. Regular filing and data entry, whether it is paper or computer, will keep your pockets, glove compartment and truck cab free of the sales receipts and charge slips that accumulate like leaves in autumn. The time spent on these record keeping details will save time and no doubt money when it comes time to balance the books.
To assist farmers with this daunting task, the Cornell Cooperative Extension (CCE) Associations of Northern New York will be offering basic financial-management training for farm business owners and managers. Educators will cover the three basic financial statements every farm business should use. Discussion will include recordkeeping systems, inventory management, cash flow vs. profitability, crop insurance and risk management.
The 1 to 3 p.m. course qualifies for FSA Borrower Training Credits. The cost is $10 per class per farm or $25 for the series of three classes. This class is for beginning farmers and farmers who want to know more about basic bookkeeping, and such tools as profitability measures, accrual accounting and depreciation.
The small classroom setting allows for lots of questions and one-on-one help from instructors. The program will be offered locally at the CCE Clinton County Office at 6064 NYS Route 22, Plattsburgh, on Dec. 10, Jan. 7 and Jan. 21. Pre-register by Dec. 3 with CCE Clinton County, 561-7450, or email email@example.com
Peter Hagar, agriculture educator, Cornell Cooperative Extension Clinton County, 6064 Route 22, Suite 5, Plattsburgh, 12901. Phone 561-7450, fax 561-0183 or email Phh7@cornell.edu.