Farm record keeping is vital for the success of every farming venture. It is one activity that can determine the progress of your farms. The importance of record keeping cannot be overemphasized. For effective management of your farm, you need to track the stock and usage of farm inputs, the number of your livestock, feed usage, costs of purchases and maintenance and a whole lot more.
Cashbook & Payment Receipt
This is a record of all financial transactions of the farm, both income and expenditure. This record is usually a requirement if you want to access loans. As the farming accounting record book, it gives a better picture of the financial status of the farm. This record will be the basis for productive decision making on the farm.
Farm Daily Record
There is the tendency to forget as you go on your daily activities on the farm as a manager. The date for vaccination, the amount of fertiliser applied, pest control regimes and a number of things could be forgotten. It is therefore important to keep a document to record all activities on a daily to help and be your reminder.
Annual Valuation Record
So, at the end of the year, the farm manager should carry out an evaluation of the farm. The gains and losses, strengths and weaknesses should be determined. The valuation record will show the value of stocks present at the farm from the beginning to the end of the year. This will help plan for the upcoming year.
Farm Inventory Record
This very important farm record shows the lists of all items on the farm at a particular time. Records on farm equipment, farming building, inputs, furniture, etc. Additionally, the inventory record gives you an idea of the value and the current state of the items. This is usually taken at the beginning and the end of the production year.
Keeping good records will enable effective management of the farming venture.
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By: Enoch Asante