The Best 5 Farm Accounting Software Options for 2023
Welcome fellow farmers and financial wizards! Are you tired of juggling spreadsheets and manually tracking every penny that comes and goes on your farm? Fret not, we’ve got you covered. In today’s blog post, we’ll be comparing the top 5 farm accounting software options for 2023, guiding you through the digital haystack to find that golden needle of financial management bliss. Not a farmer? Don’t worry, many of these programs are great small-business accounting software too. So grab your pitchforks and let’s dive in!
Best Overall Farm Accounting Software
If you’re looking for the crème de la crème of farm accounting software, look no further than QuickBooks Desktop. This powerful, customizable, and versatile desktop program can handle multiple businesses, making it suitable for various farm sizes and needs. It’s like your trusty tractor, always ready to help you plow through those accounting tasks.
Now, we know nothing’s perfect, and QuickBooks Desktop has its fair share of drawbacks. For starters, it’s missing all those fancy farm-specific features like crop and livestock management, and pesticide application reporting. But hey, Rome wasn’t built in a day, right? Additionally, it won’t let you keep your personal and farm finances separate, and you’ll need a separate program to track donors. To top it off, it’s not a cloud-based software.
Despite these shortcomings, QuickBooks Desktop still shines as the best overall accounting software, and many consider it the best nonprofit accounting software as well. Its base price covers one lucky individual, and you can add extra chairs for an additional fee, essential for cash management. Plus, it offers a wide range of accounting features, from income and expense tracking to reconciling bank accounts.
So, if you’re looking for a robust, flexible, and customizable accounting system that can handle the ebbs and flows of your farm business, QuickBooks Desktop is the way to go. Just remember, it’s not perfect, but then again, who is?
Most User-Friendly Option
For those who prefer a software solution that speaks your language (farm-specific jargon, that is), EasyFarm is your new best friend. With its integrated farm management features and accessible interface, it’s perfect for farmers with limited accounting experience who need basic accounting features. EasyFarm is packed with all the bells and whistles you’d expect from a farm management and accounting system, making it a breeze to handle your bookkeeping and accounting tasks. It’s like having a trusty farm dog that not only herds your sheep but also helps you balance the books.
Now, if you’re a small-scale farmer looking to save a few bucks while still generating accounting reports, you’re not alone. Wave might just be the budget-friendly alternative you need. However, keep in mind that it won’t offer the same advanced features and seamless integration as EasyFarm. So choose wisely, and remember, sometimes you get what you pay for.
Best for Small Farms
Wave Accounting is a lifesaver for small farms, offering free basic accounting and invoicing features. With income and expense tracking, banking tools, and the option to add payroll services for an additional cost, it’s an affordable choice for small-scale operations.
Of course, no software is without its limitations. Wave Accounting won’t let you keep your personal finances away from your farm funds, and it can’t help you manage your cost centers. So, if your farm is a bit more complicated (Flowers, veggies, cattle, seedlings, etc. )than a lemonade stand, it might not be the best option for data entry.
To get your hands on Wave Accounting payroll services, you’ll need to part with a cool $40 per month plus $6 per employee or independent contractor. It might not be the fanciest option on the market, but for small farms with limited budgets, Wave Accounting can be just the right fit.
Best for Large Farms
When it comes to large farms with complex needs, The Farmer’s Office by Datatech stands tall as the best farm accounting software. With enhanced cost accounting features, customized payroll, and pesticide reporting systems, it caters to the intricate needs of larger farming operations. The Farmer’s Office offers a plethora of farm-specific features, such as organizing expenses for each crop year, setting up equipment cost centers, and tracking different commodities for each crop year with the help of a few farm animals. It even helps farm managers wrangle their farm employees’ salaries and deductions with ease. No more late-night number-crunching sessions in the barn!
With its chemical inventory and pesticide application reporting systems, The Farmer’s Office ensures you stay out of trouble and keep your crops safe from pesky pests. So, if you’re managing a large farm and need a software solution that can handle the heavy lifting, The Farmer’s Office is the way to go.
Top Cloud-Based Solution
QuickBooks. Online takes the cake as the top cloud-based accounting software for farm accounting. With remote access, customization, and class and location tracking, it’s ideal for farmers who need to manage their finances on-the-go. Imagine being able to check your financials from the comfort of your tractor, now that’s the dream! 🙂
The ups of QuickBooks Online include its adaptability and the fact you can access it from anywhere. Unfortunately, the downer is that payroll comes with an extra price tag. But hey, you can’t have it all, right?
If you’re willing to shell out a bit more, Araize FastFund Accounting offers a fund accounting software for just $42 a month. And the cherry on top? Users can cancel Araize FastFund Accounting, a financial management software, whenever the mood strikes them. Talk about flexibility!
So, if you’re a farmer who needs a cloud-based solution to stay on top of your finances while tending to your crops, QuickBooks Online is your go-to option.
Best for Livestock Management
If you’re a farmer who’s all about those moo-ves (livestock management, that is), then Aplos is your top choice for farm accounting software. With advanced features for tracking and managing livestock, as well as crop and field record management, it’s like having a trusty shepherd by your side. Aplos offers a wide range of features, including fund accounting, donation tracking, online gift forms, financial and giving reports, event registration, budgeting, accounts payable (A/P) and accounts receivable (A/R). It’s the Swiss Army knife of farm accounting software!
This software is purpose-built for nonprofit organizations. It helps organizations, particularly churches, to create and implement donor management strategies that can help attract and retain donors for a longer period of time. Aplos’ customer relationship management component allows users to create donor profiles, communicate with donors, keep a record of the relationship, and personalize engagement and retention strategies with targeted outreach tools. Additionally, the software offers donor management tools to streamline the process and enhance efficiency.
So, if your farm involves livestock management and you’re looking for a software solution that covers all the bases, Aplos is the one for you.
Understanding Farm Accounting Software
Farm accounting software is more than just a tool for number-crunching; it’s an essential lifeline for successful farm management. By helping farmers keep track of their income and expenses, organize their inventory, and generate accounting reports, farm accounting software takes the guesswork out of running a profitable farm. Farm accounting software is equipped with essential features such as bill tracking, invoicing and bank account reconciliation. These features help streamline businesses and make financial management easier. Plus, it offers unique features like tracking inventory based on crop type, managing livestock, and creating cost centers to keep track of all those farm expenses.
In the world of farm accounting software, usability is king. The best accounting software should be easy to use and offer reliable customer service for those who are new to the world of farm finances. After all, you didn’t become a farmer to spend your days buried in spreadsheets, did you?
With the right farm accounting software, you can take control of your finances, make informed decisions based on your financial statements, and ultimately, ensure the success and growth of your farm operations.
Key Features to Look for in Farm Accounting Software
When choosing the right farm accounting software, there are several key features to keep in mind. First and foremost, personal and farm income tracking is essential for cash management, allowing you to keep tabs on both your personal and farm finances. Fixed asset management is another crucial feature, helping you keep track of the value of physical assets like land, buildings, and equipment. Cost center creation allows you to create and manage cost centers, which are used to track expenses and income for specific projects or activities. It’s like having your very own financial GPS for your farm!
Inventory management is also vital, ensuring you can keep track of and organize all your goods and materials like a well-oiled machine. Finally, a user-friendly interface is the cherry on top, making interacting with the software a breeze and ensuring you can focus on what really matters – running a successful farm.
By considering these key features and weighing their importance for your unique farm needs, you’ll be well on your way to choosing the perfect farm accounting software.
Tips for Choosing the Right Farm Accounting Software
When selecting the best farm accounting software for your needs, it’s important to consider factors such as farm size, budget, specific needs, and ease of use. After all, one size doesn’t fit all when it comes to farm finances.
Take advantage of free trials to get a feel for the software and determine if it’s the right fit for your farm. Free trials are like test-driving a tractor – it’s essential to know you’ve got the right one before you take it out to the fields.
Lastly, always remember that the best farm accounting software should not only address your current specific needs but also be easy to use and offer reliable customer support. By considering these factors and doing your due diligence, you’ll be well on your way to finding the ideal farm accounting software for your operation.
How We Evaluated Farm Accounting Software Options
Our evaluation of farm accounting software options was meticulous and thorough, ensuring we covered all the bases when it comes to finding the best software for your farm. We considered factors such as affordability, ease of use, support, farm-specific accounting features, our own personal use of them, and overall popularity among users. By weighing these factors and conducting extensive research, we were able to provide a comprehensive comparison of the top farm accounting software options available in the market today.
Our goal was to help you make an informed decision and find the perfect software solution for your unique farm needs. So whether you’re a small-scale farmer looking for a budget-friendly option or a large-scale operation in need of advanced features, our evaluation of farm accounting software options is here to guide you through the process and help you make the best choice for your farm.
Conclusion
Finding the perfect farm accounting software might seem like a daunting task, but with the right information and guidance, it’s as easy as pie (or, in this case, a delicious farm-fresh apple pie).
From the best overall farm accounting software, QuickBooks Desktop, to the most user-friendly option, EasyFarm, we’ve covered a wide range of options suitable for various farm sizes and needs. We’ve also highlighted the top cloud-based solution, QuickBooks Online, and the best options for small and large farms, Wave Accounting and The Farmer’s Office, respectively.
By understanding the key features to look for in farm accounting software and considering factors such as farm size, budget, specific needs, and ease of use, you’ll be well-equipped to find the ideal software solution for your farm. So go forth and conquer those farm finances with confidence!
Frequently Asked Questions
Is QuickBooks good for farms?
QuickBooks is a great fit for farm accounting needs! It’s easy to use, provides handy tools and ensures efficient farm management.
What accounting method do farmers use?
Most small businesses including farmers typically use the cash method for agricultural accounting because it’s the simplest of the four methods allowed by the IRS. This means income is recorded in the tax year it’s received, and expenses are deducted in the year they’re paid. We use the accrual method and highly recommend you speak to your tax professional or read the tax law to see its benefits.
How do I track my farm expenses?
Keeping track of your farm expenses just got easier with accounting tools like QuickBooks, FreshBooks, Expensify, Agrivi, FarmBiz, EasyFarm, CenterPoint Accounting and Farm Books – so start tracking and be on your way to financial success!
These tools make it easy to track your expenses, so you can make sure you’re staying on top of your finances. With the right accounting software, you can easily monitor your income and expenses, and make sure you’re staying on budget.
Having the right accounting tools in place can help you make better decisions about your farm’s finances.
What is the best accounting software for dairy farms?
Looking for the perfect accounting software for your dairy farm? Look no further! QuickBooks. Online is the best overall option, while FarmBooks is the most affordable and Wave offers free solutions for part-time and hobby farmers.
Time to get your finances in order!
Does QuickBooks work for non profits?
Yes, QuickBooks is a great solution for non-profits – it helps you to manage and track your financials all year long so you’re ready when tax season rolls around!
