Only add categories/accounts that pertain to your operation. Proceeds Machine Work Gas Tax Refund Culled Bulls & Cows Culled Sows & Boars Other * Asset Purchase Conservation Machine Hire Depreciation Employee Benefits Feed Fees, Dues, Subscriptions Fertilizer Chemical Freight & Trucking Fuel & Oil Insurance (crop, farm, truck) Interest Labor Land Rent Professional Fees Rent (machine/equip) Repairs Seed Storage Supplies Taxes (real, pers p, payroll) Utilities (elect, phone, water) Vet & Medication Other Be sure to open your category list in Quicken or account list in Quickbooks and delete all the categories/accounts in the list that were put there by the software company. Both programs track cash or accrual basis on reports Payroll: Quickbooks Better for payroll, tracks wages/salary/payroll taxes Quicken Manually set up categories to track payroll Inventory: Quickbooks- Not user friendly, although if used correctly very accurate and up-to-date Quicken Very easy, open new account for each type of inventory, update as often as desired Does not affect your bank accounts Ease of Use: Quickbooks Nice flow chart to pick task to perform Quickbooks Balance sheet takes working knowledge to keep updated & accurate Quicken Very user friendly, menu navigation, customizable quick buttons for getting around Recommendation: Quicken - Farmers Quickbooks Businesses, Lots of payroll or Corporations 1ΔΆ FILES ~ ACCOUNTS ~ CATEGORIES Farm Income: Common Agriculture Categories (Accounts in Quickbooks) Farm Expenses: Non-Farm Income: Purchased Cattle Purchased Hogs Raised Cattle Raised Hogs Corn Beans Oats Hay Capital Sale Coop Dividend Gov t Pymnt CCC Grain Loans Crop Ins. 1 Computerized Farm Records Peg Brune ~ Dodge, NE Agricultural Bookkeeping: Quickbooks or Quicken? Accounting: Accountants prefer Quickbooks, mostly because a lot of them use it and are familiar with it Quickbooks Double entry system (always need an offsetting account for transactions) Quicken Single entry system (Don t always have to have a category or transfer account) Quickbooks Automatically carries over net income to retained earnings (equity) the following year as part of your P&L and balance sheet.
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