Farm record keeping is simply writing down in a book, activities, events, materials, etc. involved in farm operations.
Some farmers trust their memories to keep that information for them. Well, that can work, but only for a short while.
The information you get from keeping good farm records is priceless. So, in this post, we elaborate on the reasons why to be a prominent farmer you can not avoid records keeping.
1. A requirement for loans, insurance, investments, etc.
Lenders, government agencies, insurance companies, and many other bodies demand good records before providing help to farmers. Extension Agents of Agricultural Agencies sometimes need good records kept by farmers to be able to give them good technical advice on their farms. Financial institutions and other lenders would need good records of the farm’s income and expenditure before giving out loan facilities to farmers.
2. Better farm planning, budgeting, and forecasting
Farming is a business and good farm record keeping helps the farmer to plan and do realistic forecasting. Records keeping provides valuable information on the methods that work and why others do not. In budgeting, the farmer can better predict price changes of inputs and produce from expenditure and sales records kept from earlier seasons. The farmer can decide how much is required for farm expansion from good farm records.
3. Track income and expenditure
Farmers most of the time are not able to give proper accounts on their cash inflows and outflows. This is basically because they overlook and do not record “petty” expenses and incomes (like feeding and costs of phone calls). Keeping proper records, will at any time of reconciliation, give the farmer the correct amount of money spent or gained from the farm. Moreover, this helps in proper planning and budgeting.
4. Better management of a farm
A farmer who keeps records on seed germination rates of the seeds bought is in a better place to select better seeds for seasons. Besides, records keeping helps to decide the right type of crop to grow on a particular type of soil, at a particular time of the season for best yield and better pest and disease management. In the case of livestock, the farm keeps records of the bloodline, pest, and diseases, feed types and consumption, etc. These records help to prevent inbreeding, control pests and diseases, give the best feed for best performance and a lot.
Farmers cannot continue to avoid this activity for the reason of time consumption or any other. So we recommend, that spending an average of 10mins each day on the farm to keep farm records is very much worth it. It will save the farmer lots of time and money.
How have farm records been kept to help you and your farms?
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By: Enoch Afari | AgriGold