University of Maryland Extension

Recording financial transactions

Author: 
Dale M. Johnson, Extension Specialist, Farm Management

Urban Ag home | Table of contents

All income & expenses and inflows & outflows need to be recorded in a bookkeeping system. Farmers should set aside time each week and sometimes daily to do this. Each transaction should be recorded including the date, the amount, and the type of transaction according to the income statement and cash flow categories. Sometimes the process can be cumbersome. Richard Wiswall’s book mentioned earlier provides ideas on how to simplify the process.

Previous page: Recordkeeping
Next page:
Which computer accounting program should I use?

 

Maintained by the IET Department of the College of Agriculture and Natural Resources. © 2019. Web Accessibility