Farm Accounting Calendar: What to Track Each Month

Managing your farm's finances is just as important as managing your fields. Whether you run a small farm or a large-scale operation, understanding your numbers can make the difference between just getting by and growing your business. Many farmers are already using tools like Excel, Xero, or FarmBooks to manage their farm records, but what’s often missing is a clear step-by-step calendar that guides them month by month.

Keeping accurate farm books is essential for tracking income sources, managing farm operations, meeting USDA program requirements, and making strong business decisions. A well-structured farm accounting calendar acts as the backbone of your accounting system, helping you organize your year around key financial tasks—from planning your budget and managing operating costs, to preparing for tax time and communicating with lenders.

In this guide, we’ll break down each month’s accounting priorities and show how FarmRaise, a leading farm accounting software, can simplify the process and help you make better financial decisions in real time.

Why Use a Farm Accounting Calendar?

Farmers face unique financial challenges—unpredictable markets, seasonal income, and variable input costs. Without consistent tracking, it’s easy to lose sight of your cash flow, miss out on tax deductions, or lack the data you need for crucial decision-making. An organized calendar keeps your financial records clean and gives you the clarity to manage both day-to-day operations and long-term planning.

Even if you're using tools like Excel, QuickBooks, FarmBooks, or Xero, a calendar makes these tools more powerful by aligning them with the rhythms of your farm season. It ensures your accounting system supports timely reporting, compliance with IRS and USDA standards, and accurate assessments of your farm’s profitability.

Monthly Farm Accounting Guide

January: Initiate the Fiscal Year

• Review previous year's income statement and balance sheet
• Set new farm budget and financial goals
• Organize documents for Schedule F filing

Utilizing FarmRaise can automate data collection from your bank account, simplifying the process of generating essential financial reports.

February: Prepare for Tax Season

• Gather necessary documents like 1099s, W-2s, and receipts
• Review expenses for potential tax deductions
• Consult with your accountant for strategic planning

FarmRaise categorizes transactions according to IRS guidelines, facilitating accurate and efficient tax filing.

March: Mid-Season Financial Check

• Assess winter expenses and income
• Adjust budgets as needed
• Plan for upcoming spring expenditures

Real-time dashboards in FarmRaise provide insights into your farm income and expenses, aiding in timely adjustments.

April: Finalize and File Taxes

• Complete and submit tax returns
• Review depreciation schedules for equipment
• Evaluate financial performance year-to-date

Generating reports through FarmRaise ensures all financial data is organized for your tax preparer.

May: Monitor Operating Expenses

• Track input costs such as seeds, fertilizer, and fuel
• Compare actual expenses to budgeted amounts
• Adjust spending strategies accordingly

The mobile app feature of FarmRaise allows for on-the-go expense tracking, ensuring accurate and timely data entry.

June: Mid-Year Financial Review

• Evaluate financial progress against goals
• Plan for summer harvest expenses
• Review insurance coverage and liabilities

Utilize FarmRaise to generate comprehensive reports, including cash flow statements, to assess your farm's financial health.

July: Prepare for Harvest Season

• Estimate harvest yields and potential revenue
• Plan for labor and equipment needs
• Review marketing and sales strategies

FarmRaise's inventory management tools assist in tracking crops and planning for harvest efficiently.

August: Equipment and Asset Management

• Inspect and maintain machinery
• Review equipment depreciation schedules
• Plan for future equipment investments

Track equipment expenses and maintenance records with FarmRaise to manage assets effectively.

September: Sales and Marketing Evaluation

• Analyze market trends and sales performance
• Adjust pricing strategies for farm products
• Plan for product distribution and storage

Use FarmRaise to monitor sales data and refine your marketing plans accordingly.

October: Budget Planning for Next Year

• Review annual financial performance
• Set budgets for the upcoming year
• Identify areas for cost savings and investment

FarmRaise's budgeting tools assist in creating accurate and realistic financial plans.

November: Year-End Tax Strategy

• Consult with your accountant on tax strategies
• Make necessary purchases before year-end
• Review retirement and savings plans

FarmRaise helps you track deductible expenses, maximizing your tax benefits.

December: Conclude the Fiscal Year

• Finalize all financial records
• Reconcile bank accounts and credit cards
• Reflect on the year's successes and challenges

Generate comprehensive reports with FarmRaise to review your farm's annual performance and prepare for the new year.

Simplify Farm Financial Management with FarmRaise

FarmRaise isn’t just another digital spreadsheet. It’s a smart, agriculture-focused accounting system built to make farm bookkeeping seamless for producers of all sizes. Whether you’re replacing Excel or upgrading from FarmBooks, FarmRaise is made to streamline every aspect of your farm operations:

• Automatically import transactions from your bank account or credit cards
• Categorize expenses based on Schedule F and IRS standards
• Manage income sources and generate real-time reports
• Maintain clear farm records and share with lenders, tax preparers, or partners
• Track assets, evaluate profit, and manage seasonal cash flow

FarmRaise also makes it easy to apply for USDA loans and grants, helping you access capital and grow your operation. With over 20,000 farmers using FarmRaise, it's a trusted solution for simplifying farm accounting and enhancing farm profitability.

Take Control of Your Farm's Finances Today

Running a farm is hard work. From early mornings in the field to late nights managing paperwork, your time is valuable. That’s why having a reliable farm accounting calendar—backed by tools like FarmRaise—is essential. You no longer have to guess where your money is going, scramble during tax season, or juggle spreadsheets and notebooks just to know if you're profitable.

With FarmRaise, you can finally consolidate your farm records, see your income and expenses in real time, and make informed business decisions based on accurate data—not gut feeling. Whether you’re upgrading from Excel, leaving Xero, or starting fresh on your first small farm, FarmRaise empowers you to take charge of your finances with confidence.

Try FarmRaise free for 7 days and simplify your tax preparation, unlock better opportunities with lenders, and invest wisely in your future.

Start today—and make this your most organized, profitable farm year yet.

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