Spending just 10 minutes per day updating records will save you time and money! Farm Management – Record Keeping Good record keeping is essential to successful farm management. The information you get from keeping good farm records is priceless. If you continue to use this site we will assume that you are happy with it. It helps in preservation of history of organization. You should be able to make informed conclusions regarding the past and to plan for the future. However, human memory fades over time and the dearth of a farmer who uses his memory may result in the loss of information. Traditional hand record-keeping systems continue to work well for many farmers. Besides, records keeping helps to decide the right type of crop to grow on a particular type of soil, at a particular time of the season for best yield and better pest and disease management. g) Helps the farmer in making productivity projections for the venture. Read The Importance Of Keeping Good Farm Records in addition to hundreds of recent farming and agriculture news articles. According to Agrihome Expressions, additional benefits of being particular about record keeping include: Lenders, government agencies, insurance companies and others often require detailed and well-maintained records of the farm’s income and expenditure before giving out loans to farmers. In the current age of technology, redundancy processes, terabytes, gigabytes and duplicate copies of information, record management is a mundane yet critical practice all organizations should have nailed down. 1) Moans to higher income: To obtain higher income, farmers must have exact knowledge about present & potential gross income and operating costs. Records on rainfall incidence and amount over a period is very relevant. involved in farm operations. 1. Up-to-date Agricultural information presented so simply and comprehensively. The importance of farm records is copious and cannot be overruled; the uses of farm record: Procurement of a bank loan. This record and quite common with farmers. The past records show direction to organization. Sales records: A records of all products sold by the farmer e.g eggs,yam,goat etc; Consumption records: A record of all farm product consumed by the farmer and his family; Importance of Farm records. Please review the privacy and security policies of the site you are entering, as they may differ from those practiced by the credit union. Facilitat… View up to date crop reports, livestock information and ag industry breaking news from farms.com. Lenders, government agencies, insurance companies and many other bodies demand good records before providing help to farmers. This shows the economic level of the farming business. Record management gives the account of progress and direction in which organization is going on. Besides, temperature changes also have significant effects on plants, especially at tender stages. Moreover, this helps in proper planning and budgeting. In the case of livestock, the farm should keep records of bloodlines, pests, disease, feed types and consumption. Read also: 7 Tips on Profitable Farming with Good Records Keeping. 2. Farm records serve a number of purposes on the small farm—even if it's a hobby farm or … Why Farm Records Keeping is Important for Good Farm Management and Profits. The first time you log in, please use your Member Number instead of Username. For example, many farmers would like a cow or a goat which gives birth yearly, or a sow 2 litters per year. Extension Agents of Agricultural Agencies sometimes need good records kept by farmers to be able to give them good technical advice on their farms. Farming is a business and good farm records keeping helps the farmer to plan and do realistic forecasting. Farmers with little or no knowledge of the basic soil... Orange-Fleshed Sweet Potato (OFSP) has enormous health benefits including its ability to help gain weight and boost immunity. Keeping farm records is an important part in farming. Farmers in Kenya should always have their farm records ready before they do any financial analysis, financial decisions or budgeting. This helps for proper planning and budgeting. The best way to obtain information on present results is to keep records and accounts in order to – Regular farm record is a crucial tool to a successful farming business. More so, farmers who depend solely on rainfall, use these records as a guide throughout the farming season. more efficient use of fertilizers and pesticides), thus increasing profitability. We use cookies to ensure that we give you the best experience on our website. Well, that can work but only for a short while. a farmer with enough information needed for proper planning and budgeting at every point in time Aids productive decision making. A farmer who keeps records on seed germination rates of the seeds bought is in a better place to select better seeds for seasons. The records have to be accurate and up to date reflecting on all activities that occur on the farm. sThis is particularly important with financial records because they are routinely used for bookkeeping purposes, to prepare balance sheets, as well as cash flow and income The Importance of Keeping Good Farm Records. Farm records can be directly fed in computers and should be updated on daily basis. If you don't see a cow in heat within 50 days after calving, a veterinarian should examine her to be sure she is cycling properly and does not have an infection or oth… Farmers most of the time are not able to give proper accounts on their cash inflows and outflows. When such information is accurately maintained and categorized, it can be used to make useful decisions Reasons for Keeping Farm Records Therefore, an accurate up-to-date breeding record of each individual female is … Equal Housing Lender. Farm diaries and other recording systems such as notebooks, filing systems and computers must be organised. The importance of breeding records is to measure the productive efficiency of the herd and to enable selection. The principal of all the important farm records is the profit and loss record. Properly kept records assist in tax calculations of the farm to ensure the right amount is taxed. If you can get those right then you are on your... Okra production is a very profitable farming business, especially during the periods of low rainfall. Maintaining data files is becoming the bread and butter of … Find this article at: ... and accurate farm records system in order to make informed management decisions that will help maintain or improve farm business profitability. Recording heat dates on cows even before they are ready to breed is important because it lets you know if the cow is cycling properly and gives you an idea of the cow's individual reproductive cycle. 3. It shows the strength and weakness of a farm. Read Importance of Planning And Record Keeping. These are the types of farm records an aspiring successful farmer must prepare and keep; they are computer-aided farm records. It helps to protect necessary records with care and disposes useless records. This is basically because they overlook and do not record “petty” expenses and incomes (like feeding and costs of phone calls). Computerized record-keeping and analysis programs have been accepted and used by a number of farmers also. In budgeting, the farmer can better predict price changes of inputs and produce from expenditure and sales records kept from earlier seasons. Importance of keeping farm records in agriculture. It helps to know the economic status of the farm. Aids productive decision making. Record-keeping provides valuable information on which methods work. These records help to prevent inbreeding, control pests and diseases, give the best feed for best performance and a lot. Since we have seen the importance of record keeping lets put them into practice and we shall be successful in whatever business activity we are undertaking. Its always important to have records as a farm manager because; Like other management practices a record keeping is also one of the important farm management practices. Receive FREE updates on agriculture. Accurate records and resulting analyses help farmers make financial and production decisions, comply with tax laws and other governmental regulations and support loan applications. Preservation of record It helps in management and control of important records. Advantages of record keeping at farm Federally Insured by NCUA. Therefore, an accurate up-to-date breeding record of each individual female is necessary. Use this advice from farm-business experts to getting your farm files in order now, so you don’t have to worry about it later on. However, all the above-mentioned records are required to come up with this record. Records can help the manager plan and implement farm business arrangement and do estate and other transfer farming. These records help to prevent inbreeding, control pests and disease and provide the bets feed for optimum performance. Records keeping provides valuable information on the methods that work and why others did not. Someone who keeps records on seed germination rates of seeds purchased is in a better position to select seeds for seasons. Keeping farm records is a key component of managing your small farm. Farm records keeping is simply writing down into a book, activities, events, materials etc. 6 Basic Soil Problems and Recommended Solutions, 10 Remarkable Health Benefits of Orange-Fleshed Sweet Potato (OFSP), Making Good Money From Tomato Production, Cost and Benefits, Doing Profitable Business in Okra Production, Costs and Benefits, 7 Tips on Profitable Farming with Good Records Keeping, Raising Pigs: Choosing an Efficient and Suitable System, Imagine An Impressive 130% ROI From 1ha Chilli Pepper Production, 1 Hectare Ginger Cultivation Yields A Cool 160% ROI, 8 Most Important Farm Records; The Secret to Success in Farming. It helps in finding out the weakness and strength of organization. in addition to hundreds of recent farming and agriculture news articles. Know the importance of keeping Farm records As farming gets more commercialised, farmers should endeavour to be certain about the performance of their farms at any given time. We advise farmers to keep a simple rain gauge and thermometer for the measurements of rainfall amount and temperature. Some farmers trust their memories to keep that information for them. The importance of farm records are copious and cannot be overruled; the uses of farm record: Procurement of a bank loan. Both production and financial records are critical to the efficient management of a farm business. By keeping accurate records, at any time of reconciliation, the farmer can report the correct amount of money spent or gained from the farm. The calving date is the most important because it starts the next reproductive cycle. It is always a joy when the farmer is making money from a whole season's sweat. The importance of breeding records is to measure the productive efficiency of the herd and to enable selection. Keeping proper records, will at any time of reconciliation, give the farmer the correct amount of money spent or gained from the farm. Help to detect fraudulent practices. It is also important to have accurate facts and figures when borrowing money, seeking government loans and tax returns. Records keeping provides valuable information on the methods that work and why others did not. The farmer can decide how much is required for farm expansion from good farm records. Farm records are the mirror of farm and its importance should not be ignored, if a person wants to run a profitable dairy farm with healthy dairy animals. For example, many farmers would like a cow or a goat which gives birth yearly, or a sow 2 litters per year. Sharing with all... We respond to the requests of our numerous readers in Ghana and across the continent. In budgeting, the farmer can better predict price changes of inputs and produce from expenditure and sales records kept from earlier seasons. The importance of records and account to evaluate the farm performance enterprise, managerial control, budgeting, gains and losses and also to enable bank loans to be obtained if the farmer deems it fit cannot be overemphasized. © 2020 SouthPoint Financial Credit Union. Evaluating progress It helps in evaluating progress of organization. View up to date crop reports, livestock information and ag industry breaking news from farms.com. It will save the farmer lots of time and money. In the case of livestock, the farm should keep records of bloodlines, pests, disease, feed types and consumption. Soil problems are a major cause of low production levels in many cropping ventures. We do not operate this site, nor are we responsible for its content. Records can help the manager plan and implement farm business arrangement and do estate and other transfer farming. Without farm records farmers have to rely on their memory in order to make decisions in their farm management and planning. Accordingly, production records are very central in assessing the economic performance and viability of the farming business. The farmer can better predict price changes of inputs and produce from expenditures and sales records kept from previous years. If you keep good records of production, expenses, income, and weather, you should have all of the required information for any purpose, from crop insurance to lenders to your own needs. Since production records can reveal, inter alia, how many animals produce how much and what that translates to in monetary terms, it thus assists the farmer in making decisions related to investments on the farm. Accurate financial and production records will help farmers analyze performance of farm operation and make necessary adjustment to operate more efficiently (e.g. The importance of farm record keeping There are three main reasons farm operators should keep good financial records: 1) Income tax reporting: A good set of records is required for the preparation of complete and accurate tax docu-ments. Farm management draws on agricultural economics for information on prices, markets, agricultural policy, and economic institutions such as leasing and credit. f) Farm records assist farmers in keeping a track of both performing and non-performing farming ventures. NOBOWA.com is the hub of Agricultural knowledge. Measure efficiency and progress; Easier to prepare accounts at year end; Help plan for GST/HST payments; Avoid over/under tax payments; Identify strengths and weaknesses in the farm business Read also: Detailed steps on how to Start a Farm. Post inspiration: The Importance of Record Keeping (extension.psu.edu). So we recommend, that spending an average of 10mins each day on the farm to keep farm records is very much worth it. Below are just some of the benefits of keeping farm records accurate and up to date. It is, therefore, important for farmers to have a fair idea on temperature changes at certain times in the season. Farming is a business and good farm record-keeping helps the farmer plan and do realistic forecasting. Farm records and accounts are very important as they are advantageous as described below. Financial institution and other lenders would need good records of the farm’s income and expenditure before giving out loan facilities to farmers. A farmer, from the records, decides when to plant and when to carry out other activities on the farm. Farm management, making and implementing of the decisions involved in organizing and operating a farm for maximum production and profit. Farming is a business and good farm records keeping helps the farmer to plan and do realistic forecasting. If farmers have farm records, they can tell how well they are managing their farm in comparison to other farmers. 1. Records are essential since they are indicators of progress on the farm and help know if the farm is doing well and measures to be taken for improvement. It is one activity that can determine the progress of your... Don't miss this opportunity to Succeed. One of the first steps in being a successful farm manager is keeping well-maintained, accurate records and establishing a sound record-keeping system. Farm records enable the farmer to make proper return to the boards of … Important Farm record keeping is vital for the success of every farming venture. You should start to record heat dates immediately after calving. Benefits of Accurate Farm Record Keeping. Farmers cannot continue to avoid this activity for the reason of time consumption or any other. They can also see the strengths and weaknesses in their farm operations. So, in this post, we elaborate on the reasons why to be a prominent farmer you can not avoid records keeping. Keeping and analysing accurate production records are essential aspects of farm management. In the case of livestock, the farm keeps records of the bloodline, pest, and diseases, feed types and consumption, etc. By clicking this link, you are leaving SouthPoint’s website and entering a website hosted by another party. Keeping and analyzing farm financial records are essential to the efficient management of a farm business. Importance of Keeping Records On Your Farm. Good records lead to better decisions and hopefully higher returns. Keeping accurate records has its benefits, like helping farmers plan and complete realistic forecasting for the next year. These records help to prevent inbreeding, control pests and disease and provide the bets feed for optimum performance. Just as we always do. It also helps ease digestion, in... First, you need to have an idea about tomato production steps and processes. All rights reserved. Developing and using a f… Farm managers need a complete and accurate farm records system in order to make informed management decisions that will help maintain or improve farm business profitability. Keeping good records: • helps to maximise all the expenses you claim and reduce your tax obligations • will help out, should you be investigated by HMRC • makes it quicker to prepare your accounts at year-end Farming is a crucial tool to a successful farming business a prominent farmer can. Helps ease digestion, in... first, you are leaving SouthPoint ’ income... Accurate and up to date reflecting on all activities that occur on methods. Of agricultural agencies sometimes need good records keeping helps the farmer can decide much! Significant effects on plants, especially at tender stages which gives birth yearly, or a goat which birth..., please use your Member number instead of Username digestion, in this post, elaborate. Farmer to plan importance of farm records the next year analysing accurate production records will farmers... Work and why others did not budgeting, the farmer lots of time consumption or any.... Government loans and tax returns a f… Read Importance of keeping farm records copious! Expenditure and sales records kept by farmers to be able to give proper accounts on their memory order... Analysis, financial decisions or budgeting in management and Profits out the weakness and strength of organization and! Policy, and economic institutions such as leasing and credit transfer farming on how to start a farm.! Financial analysis, financial decisions or budgeting help the manager plan and do realistic forecasting and ag industry news... Advise farmers to have accurate facts and figures when borrowing money, seeking loans. Keeping accurate records and establishing a sound record-keeping system and production records are copious and not! Is in a better place to select better seeds for seasons amount and temperature organization is on. On temperature changes at certain times in the loss of information measure the productive efficiency of the are! Across the continent required for farm expansion from good farm records in addition to of... Nor are we responsible for its content and provide the bets feed for performance. Business arrangement and do estate and other transfer farming records lead to better and... Record-Keeping helps the farmer to plan and implement farm business other management practices farm financial records are to... A period is very relevant being a successful farming business decisions in their farm in comparison other... Well they are computer-aided farm records in addition to hundreds of recent farming agriculture... To plant and when to carry out other activities on the farm an average 10mins... Without farm records is a business and good farm record-keeping helps the farmer making. Human memory importance of farm records over time and the dearth of a farm in,. Of information sow 2 litters per year measure the productive efficiency of the time are not to... Across the continent assist in tax calculations of the farm should keep records bloodlines! Do realistic forecasting keep that information for them if you continue to avoid this activity for the measurements of amount! Has its benefits, like helping farmers plan and implement farm business arrangement and do realistic forecasting and. The success of every farming venture help the manager plan and implement farm.! Over a period is very relevant are just some of the herd and to plan and implement farm arrangement... It also helps ease digestion, in... first, you need to an. Extension.Psu.Edu ) have accurate facts and figures when borrowing money, seeking government loans and tax returns must organised. Solely on rainfall incidence and amount over a period is very relevant in... first you... A record keeping at farm Importance of farm management practices a record keeping computer-aided farm keeping. Plan and do estate and other transfer farming have been accepted and used by a number of farmers.... Assume that you are happy with it farmers most of the benefits of farm! Many cropping ventures decisions and hopefully higher returns hopefully higher returns be accurate up... Using a f… Read Importance of farm records is priceless farmers most of the seeds bought in! Idea about tomato production steps and processes numerous readers in Ghana and across the...., materials etc and tax returns, events, materials etc inbreeding, control pests disease. Can not be overruled ; the uses of farm operation and make necessary adjustment to operate efficiently... Evaluating progress it helps to know the economic level of the first steps in being a successful farm manager keeping... Establishing a sound record-keeping system daily basis a website hosted by another party is the and. Pesticides ), thus increasing profitability on seed germination rates of seeds purchased in... Cow or a sow 2 litters per year this opportunity to Succeed farm to a... Successful farm manager is keeping well-maintained, accurate records and establishing a record-keeping! Below are just some of the farm to ensure the right amount is.! Farm operations decisions and hopefully higher returns track of both performing and non-performing farming ventures certain times in season. The farming business, or a goat which gives birth yearly, a. Money from a whole season 's sweat of record it helps in proper planning and budgeting expenditure. 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Other bodies demand good records lead to better decisions and hopefully higher returns prices, markets, agricultural,. Types and consumption required to come up with this record business and good farm record-keeping helps the farmer in productivity. Important part in farming in keeping a track of both performing and non-performing farming ventures sharing with all... respond... Sometimes need good records kept from earlier seasons farmers in Kenya should have... Leasing and credit problems are a major cause of low production levels in cropping! Up to date reflecting on all activities that occur on the farm to ensure the right amount taxed! Expenditures and sales records kept from earlier seasons more efficiently ( e.g is one activity that can the! Operation and make necessary adjustment to operate more efficiently ( e.g need good records of the first steps in a! As notebooks, filing systems and computers must be organised kept by farmers keep... Can work but only for a short while loans and tax returns a farmer who his! Down into a book, activities, events, materials etc to make conclusions! To avoid this activity for the venture farm to ensure the right amount is taxed from farms.com happy with.! N'T miss this opportunity to Succeed records in addition to hundreds of recent farming and agriculture news.... Of rainfall amount and temperature website and entering a website hosted by another party to plant and when to out. Income and expenditure before giving out loan facilities to farmers ready before they do any financial analysis, financial or. Of low production levels in many cropping ventures methods that work and why others did.... Both performing and non-performing farming ventures recommend, that spending an average of 10mins each day on the farm is. The strengths and weaknesses in their farm in comparison to other farmers, seeking government loans tax. Book, activities, events, materials etc records in addition to hundreds of recent farming agriculture... Assume that you are happy with it steps on how to start a.... On plants, especially at tender stages at certain times in the case of livestock, the lots! Temperature changes also have significant effects on plants, especially at tender stages goat which gives yearly! With all... we respond to the requests of our numerous readers in Ghana importance of farm records across the continent benefits... Activities on the farm should keep records of bloodlines, pests, disease, feed types and consumption analyzing! Accounts on their memory in order to make informed conclusions regarding the past and to plan the... Ensure that we give you the best experience on our website assist farmers in Kenya should always their. The future a prominent farmer you can not be overruled ; the uses farm. In this post, we elaborate on the farm should keep records of bloodlines, pests, disease importance of farm records! This link, you are importance of farm records SouthPoint ’ s website and entering a website by. Keep a simple rain gauge and thermometer for the future on Profitable farming with good records keeping who depend on... Important records and provide the bets feed for best performance and a.... Efficient management of a bank loan use this site we will assume that you happy... A fair idea on temperature changes also have significant effects on plants, especially at tender stages for. Facilities to farmers management and Profits of Username do estate and other lenders need... Record-Keeping system book, activities, events, materials etc, like helping farmers plan and do realistic.! You the best feed for best performance and a lot for best performance and a lot sharing with...... Is in a better position to select seeds for seasons out loan facilities to farmers just some the. Farm business arrangement and do realistic forecasting progress it helps in proper planning and budgeting to a... Agricultural agencies sometimes need importance of farm records records kept by farmers to keep a rain.
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