USDA Farm Service Agency | Farm Loan Programs | Farm Assistance Programs | »Record Keeping
Record Keeping
Record Keeping 101
Record keeping is one of your most important responsibilities as a small business owner. The success of your business depends on creating and maintaining an effective record system. Your record keeping system, whether on paper or on a computer, should be easy to use, simple to understand, and consistent.
For more information on record keeping and preparing for your first FSA meeting, here are some resources and helpful tips:
Step One: Set your intention and identify your goals
- What type of operation do you have or want to have?
- What do you need to operate that farm or ranch?
- How will you market your product(s)?
- What are your financial projections?
- How much money do you need?
Tools for production planning:
Small Business Agency (SBA) Record-Keeping for a Small Business
Step Two: Gather records
- Remember to bring your financial records, including tax returns, for the most recent crop production cycle.
- If you need to rely on off-farm income to repay the loan, bring in your last few pay stubs from your current employer.
- If you are leasing land or equipment, bring copies of any written leases.
Examples of records include:
- Calendar
- Financial reports
- Production reports
- Inventories
- Diaries
- Retail sales receipts
- Account statements
- Bill of lading
- Contractual agreements
- Financial statements
Software for maintaining verifiable records:
Quickbooks
QuickBooks products offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
FileMaker
Filemaker delivers innovative software to easily create custom business apps for all your record keeping needs.
COG Pro
COG Pro provides an online solution to the detailed record keeping required for Organic and Food Safety certification.
Step Three: Organization
- An organization shall maintain records and information in a manner that ensures timely, efficient, and accurate retrieval
of needed information.
Resources for record keeping organization:
UC Davis
UC Davis offers important information containing sample forms, checklists, and helpful explanations of a variety of issues relating to record keeping.
Pennsylvania Certified Organic
PCO provides resources to business planning and record keeping programs.
NCAT Sustainable Agriculture Project
The NCAT Sustainable Agriculture Project provides a wealth of farming and processing information and sample documentation forms.