Keeping Farm records 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.
Important Farm Records
Today, we talk about some very important ones you should never avoid as a farm manager.
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Cashbook and 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.
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Farm Diary 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 fertilizer applied and a number of things could be forgotten. It is therefore important to keep a document to record all past activities to help and be your reminder.
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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.
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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.
A good farm inventory record book can assist farmers in getting a bank loan.
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Yield and production record
As important as it is, this record shows the yield output of the farm. The tonnes of the yield of crops per season, the number of eggs laid per day, and the size of litter after farrow.
The yield records show the success rate of the farm and when taken for over a long period show you the trends of production and the productivity of the farm.
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Payroll and labour record
Another important farm record is payroll and labour records. It shows the amount and types of labour hired or employed to work on the farm. Also, it shows the rate and wages paid. It contributes to farm accounting.
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Farm input utilization record
This farm record book shows all the inputs acquired and utilized during the production year. It shows the contribution of a particular input in the production. It shows how much the input was applied in production and the output.
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Profit and loss record
The principal of all the important farm records is the profit and loss record. This shows the economic level of the farming business. This record and quite common with farmers. However, all the above-mentioned records are required to come up with this record. The profit and loss record is usually prepared at the end of the year to know if the business is profitable or not. This is why it is an important farm record for the farmer.
In summary
There are so many important details on the farms for you to keep in memory. These details are the basis for the growth of your farm. Farming records are the solution.
