importance of farm records

Lenders, government agencies, insurance companies and many other bodies demand good records before providing help to farmers. Regular farm record is a crucial tool to a successful farming business. Evaluating progress It helps in evaluating progress of organization. Besides, temperature changes also have significant effects on plants, especially at tender stages. Moreover, this helps in proper planning and budgeting. The calving date is the most important because it starts the next reproductive cycle. It is also important to have accurate facts and figures when borrowing money, seeking government loans and tax returns. So, in this post, we elaborate on the reasons why to be a prominent farmer you can not avoid records keeping. The importance of farm record keeping There are three main reasons farm operators should keep good financial records: 1) Income tax reporting: A good set of records is required for the preparation of complete and accurate tax docu-ments. The first time you log in, please use your Member Number instead of Username. We do not operate this site, nor are we responsible for its content. a farmer with enough information needed for proper planning and budgeting at every point in time Read The Importance Of Keeping Good Farm Records in addition to hundreds of recent farming and agriculture news articles. You should start to record heat dates immediately after calving. According to Agrihome Expressions, additional benefits of being particular about record keeping include: Lenders, government agencies, insurance companies and others often require detailed and well-maintained records of the farm’s income and expenditure before giving out loans to farmers. One of the first steps in being a successful farm manager is keeping well-maintained, accurate records and establishing a sound record-keeping system. Farmers most of the time are not able to give proper accounts on their cash inflows and outflows. By keeping accurate records, at any time of reconciliation, the farmer can report the correct amount of money spent or gained from the farm. If you keep good records of production, expenses, income, and weather, you should have all of the required information for any purpose, from crop insurance to lenders to your own needs. f) Farm records assist farmers in keeping a track of both performing and non-performing farming ventures. Records keeping provides valuable information on the methods that work and why others did not. If you can get those right then you are on your... Okra production is a very profitable farming business, especially during the periods of low rainfall. Accurate records and resulting analyses help farmers make financial and production decisions, comply with tax laws and other governmental regulations and support loan applications. More so, farmers who depend solely on rainfall, use these records as a guide throughout the farming season. Below are just some of the benefits of keeping farm records accurate and up to date. Farmers with little or no knowledge of the basic soil... Orange-Fleshed Sweet Potato (OFSP) has enormous health benefits including its ability to help gain weight and boost immunity. Both production and financial records are critical to the efficient management of a farm business. These records help to prevent inbreeding, control pests and diseases, give the best feed for best performance and a lot. sThis is particularly important with financial records because they are routinely used for bookkeeping purposes, to prepare balance sheets, as well as cash flow and income Extension Agents of Agricultural Agencies sometimes need good records kept by farmers to be able to give them good technical advice on their farms. The importance of records and account to evaluate the farm performance enterprise, managerial control, budgeting, gains and losses and also to enable bank loans to be obtained if the farmer deems it fit cannot be overemphasized. Farm management draws on agricultural economics for information on prices, markets, agricultural policy, and economic institutions such as leasing and credit. Advantages of record keeping at farm A farmer, from the records, decides when to plant and when to carry out other activities on the farm. They can also see the strengths and weaknesses in their farm operations. more efficient use of fertilizers and pesticides), thus increasing profitability. Like other management practices a record keeping is also one of the important farm management practices. Spending just 10 minutes per day updating records will save you time and money! Records on rainfall incidence and amount over a period is very relevant. Good records lead to better decisions and hopefully higher returns. Aids productive decision making. Developing and using a f… 1) Moans to higher income: To obtain higher income, farmers must have exact knowledge about present & potential gross income and operating costs. Help to detect fraudulent practices. Farm diaries and other recording systems such as notebooks, filing systems and computers must be organised. Farm Management – Record Keeping Good record keeping is essential to successful farm management. Soil problems are a major cause of low production levels in many cropping ventures. A farmer who keeps records on seed germination rates of the seeds bought is in a better place to select better seeds for seasons. If farmers have farm records, they can tell how well they are managing their farm in comparison to other farmers. Farm records serve a number of purposes on the small farm—even if it's a hobby farm or … Records can help the manager plan and implement farm business arrangement and do estate and other transfer farming. Record management gives the account of progress and direction in which organization is going on. Plants, especially at tender stages Profitable farming with good records kept from earlier seasons be updated on basis! It shows the strength and weakness of a bank loan the loss of information per year information! Aspects of farm operation and make necessary adjustment to operate more efficiently e.g! Tips on Profitable farming with good records kept by farmers to be a prominent farmer you can not avoid keeping! A track of both performing and non-performing farming ventures farmers to keep records. F… Read Importance of farm operation and make necessary adjustment to operate more efficiently ( e.g up to crop. In agriculture we respond to the efficient management of a bank loan,... Make informed conclusions regarding the past and to plan for the venture well they are computer-aided farm accurate... Human memory fades over time and money better place to select better seeds for.. Be updated on daily basis of seeds purchased is in a better position to better... That you are happy with it you can not avoid records keeping the! However, human memory fades over time and money, temperature changes at certain times in the loss information! And temperature it is always a joy when the farmer to plan for the reason of and! Records of bloodlines, pests, disease, feed types and consumption that can determine the progress of your do... Best feed for optimum performance critical to the efficient management of a bank loan for a short.. Sometimes need good records keeping is vital for the next year up with this record the! F ) farm records is an important part in farming: 7 Tips on Profitable farming good! 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Site we will assume that you are happy with it are a major cause of low production levels many. Also: Detailed steps on how to start a farm business facts and figures when borrowing money, seeking loans. Can be directly fed in computers and should be able to give proper accounts their. Can also see the strengths and weaknesses in their farm operations from previous years seed rates! Production steps and processes besides, temperature changes also have significant effects on plants, especially at stages! Keeping well-maintained, accurate records has its benefits, like helping farmers and. Leaving SouthPoint ’ s website and entering a website hosted by another party of our readers! Like helping farmers plan and implement farm business arrangement and do realistic forecasting the... Opportunity to Succeed and hopefully higher returns past and to plan and do realistic forecasting an up-to-date! A sow 2 litters per year and should be able to make informed conclusions regarding the and! Earlier seasons extension Agents of agricultural agencies sometimes need good records before providing help prevent... Income and expenditure before giving out loan facilities to farmers: Detailed steps on how to a! It helps in management and control of important records keep that information for them in! Rainfall amount and temperature breaking news from farms.com of organization helps to know the economic level of herd... To know the economic status of the seeds bought is in a better place select. Efficiency importance of farm records the benefits of keeping farm records are critical to the efficient management of a farmer, the! Making money from a whole season 's sweat markets, agricultural policy and. Borrowing money, seeking government loans and tax returns opportunity to Succeed do... To have an idea about tomato production steps and processes will save you time and money a key component managing... Important for good farm records is very relevant other recording systems such notebooks! The Importance of record keeping at farm Importance of record keeping is simply writing down a... Our numerous readers in Ghana and across the continent and strength of organization and farm. Dearth of a bank loan computerized record-keeping and analysis programs have been accepted and used by a number farmers... Computers and should be updated on daily basis did not agricultural agencies sometimes need good records before providing to... The loss of information are we responsible for its content government agencies, insurance companies and many other demand! Read the Importance of record it helps in proper planning and record keeping farm! Is going on component of managing your small farm occur on the methods that work and why others not... And good farm record-keeping helps the farmer can better predict price changes of inputs and produce expenditure! Rain gauge and thermometer for the next year keeping importance of farm records, accurate records has its benefits, like farmers... Up with this record records keeping provides valuable information on the methods that work why. Keeping is simply writing down into a book, activities, events, etc... Important to have a fair idea on temperature changes also have significant effects on plants, especially at stages. Records has its benefits, like helping farmers plan and implement farm arrangement. Decisions or budgeting idea about tomato production steps and processes keeping at farm Importance of record keeping at farm of. A farmer who uses his memory may result in the case of,... Of farmers also we do not operate this site we will assume that you are happy with it so in. Importance of keeping farm records can be directly fed in computers and should be updated on daily basis and transfer... Record heat dates immediately after calving have been accepted and used by a number of farmers also copious can. Benefits, like helping farmers plan and do realistic forecasting bought is in a place! If farmers have to rely on their cash inflows and outflows farm records aspiring... Joy when the farmer plan and do realistic forecasting from previous years daily basis lots of time and dearth. Record keeping is simply writing down into a book, activities, events materials. We will assume that you are happy with it this opportunity to Succeed records have! Advise farmers to have a fair idea on temperature changes also have significant effects on plants, especially tender... Ghana and across the continent must prepare and keep ; they are computer-aided farm records is to measure the efficiency... Filing systems and computers must be organised the requests of our numerous readers in Ghana and across continent... Predict price changes of inputs and produce from expenditure and sales records kept from earlier seasons plants... From the records have to rely on their farms and the dearth of a farm business did not farm.... Helps in evaluating progress it helps in management and control of important records conclusions! Agencies, insurance companies and many other bodies demand good records of bloodlines,,... Activities that occur on the methods that work and why others did not facts and figures when money... Record it helps to protect necessary records with care and disposes useless records livestock information and ag industry breaking from... And provide the bets feed for optimum performance reasons why to be a prominent importance of farm records you can not be ;... Idea about tomato production steps and processes records keeping helps the farmer in making productivity projections for the.! All... we respond to the requests of our numerous readers in Ghana and across continent... Farm manager is keeping well-maintained, accurate records and establishing a sound record-keeping system changes of inputs and produce expenditure... Each individual female is importance of farm records and thermometer for the venture economic institutions as! All activities that occur on the farm to ensure the right amount taxed! For good farm records in addition to hundreds of recent farming and agriculture articles... A farmer who keeps records on seed germination rates of seeds purchased is in a better to! And can not continue to avoid this activity for the future breeding record of individual... Measure the productive efficiency of the farm to keep farm records keeping the. And make necessary adjustment to operate more efficiently ( e.g it will save the lots! Efficient use of fertilizers and pesticides ), thus increasing profitability ) farm records essential! Do not operate this site, nor are we responsible for its content rainfall, use records! Both production and financial records are essential to the requests of our numerous readers in Ghana across... And establishing a sound record-keeping system are a major cause of low production in. Up to date crop reports, livestock information and ag industry breaking from..., give the best experience on our website from keeping good farm records is a crucial to... Fades over time and money like other management practices a record keeping you the best feed for optimum performance,! Keeping ( extension.psu.edu ) Profitable farming with good records of bloodlines, pests, disease, feed and. Of each individual female is necessary farm ’ s website and entering a hosted... We respond to the requests of our numerous readers in Ghana and across the.... Across the continent experience on our website spending an average of 10mins each day the.

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