Farmers are not necessarily bookkeepers or accountants. Most of them focus on how to grow crops and raise livestock, without having advanced knowledge of business management. This means it may not be a good choice for farmers to choose accounting software for themselves. If you want to install the best accounting software for farm business, or want to learn about the best free farm accounting software, check out the software below!
You’ve been working hard on your farm business, but you haven’t much time for your accounting because of it. Fortunately, there are some farm management and accounting software solutions which can help you manage your business and make accounting easier for you. I’ll show you the best ones for you.
EasyFarm
Best overall accounting software for small independent farms.
Best for:
EasyFarm is an ideal solution for small farmers or ranch managers looking for easy-to-use, full-featured accounting software. EasyFarm comes with the standardized farm or ranch chart of accounts preset to ensure users hit the ground running. Users can set up as many different transaction accounts as necessary, and the asset account ledger looks just like a checkbook, making the interface intuitive and easy to understand.
Key functionality:
Ideal for farming and livestock, critical features of EasyFarm include customer, crop and financial management modules, and ledger functionality to keep multiple books. Additional functionality includes barcoding (RFID), order processing, traceability, and weather records.
EasyFarm can also grow as needed with four program tiers: EasyFarm Lite, EasyFarm Plus, two versions of EasyFarm Pro (Crops or Livestock), and EasyFarm Premier, with each tier adding to a rich feature set.
For farmers who rely on more granular information for managing their production, EasyFarm provides an input option to track a variety of elements, including quantity, cost, market value, weight, harvest area (by acre), share percentage, and so on—even the name of the truck driver and the truck number. In addition, production and sales reports are available for milk, crops, and livestock, and larger farmers can set up cost centers as necessary to show expenses according to specific elements of the farm.
Built-in payroll tracking is customizable to state requirements. The payroll module also facilitates pre-tax deductions and retirement contributions, as well as automatic calculations for overtime hours. And, everything is tracked automatically for later reporting to appropriate government agencies and generating end-of-year employee tax documents.
One of EasyFarm’s best features is its reporting module. Built-in report templates include cash flow, transaction registers of assets, payroll (including tax reports, such as Form 1040F, Form 1099, Form W-2, and Forms 94X), balance sheet, inventory, and journal entry.
In some cases, farmers may want to track their household expenses and their farm expenses on the same platform. EasyFarm allows farmers to do just that, but it keeps personal and business expenses separate within the database.
One potential drawback of EasyFarm is that accounts receivable functionality is included in an add-on module. Farmers who need to send invoices and then subsequently track payments against them can purchase this module for a modest fee, and it works with any version of EasyFarm.
Access & users:
EasyFarm is an on-premises application, but farmers do not need an elaborate and expensive infrastructure to successfully run the application; this does place user and group creation, management, and security on the customer. The creation of multiple users and granular permissions is an integral part of EasyFarm since the user maintaining grain or equipment inventory may not be the same user maintaining payroll.
EasyFarm also offers the EasyFarmHand app for Android, which allows users to transfer data via a cloud connection to the Crop & Field Manager. There’s also an add-on module for farmers who need to track oil sales and royalties. Both of these options work with EasyFarm Plus or Pro.
Ease of use:
EasyFarm’s simple-to-use menus and functionality are the keys to success. Users can begin adding data and running reports immediately after setup, providing the customer insight on profitability right away. Plus, the company highlights the “one entry” method with EasyFarm. If seed or chemicals are purchased and expensed, EasyFarm instantly adds the product to the equipment or supplies inventory without double-entry. The “one entry” significantly reduces data entry time and gets farmers back in the field faster. EasyFarm comes with detailed documentation; however, phone and email support are only available during regular business hours.
Cost:
To keep farms profitable, the price structure for EasyFarm is very straightforward. As noted, EasyFarm offers four tiers—EasyFarm Lite, EasyFarm Plus, EasyFarm Pro, and EasyFarm Premier. Each tier is reasonably priced, and the cost provides a perpetual license for the software and updates. The Pro versions are also focused on the specific type of farm that the user is running: Pro Livestock (Cattle Manager) and Pro Crops (Crop & Field Manager). The Premier version includes both the Crop & Field Manager and the Cattle Manager.
Things we liked:
- Extremely easy to use with a rich feature set
- Reasonably priced with four tiers for future growth
- Works well for both crops and livestock
- “One Entry” feature removes the need for double entry of data
- Excellent reporting features, including handy tax reports
Things we didn’t like:
- No cloud-based offering
- No standard accounts receivable
TraxView
Best accounting software for large or corporate farms.
Best for:
Larger farming enterprises are intricately complicated, with many moving pieces that can affect profitability. TraxView is a robust Windows-based desktop application with all the functionality needed to maintain large and corporate farms and successfully manage every aspect of a farm or ranch for maximum profitability.
Key functionality:
TraxView has a myriad number of built-in functions. Among its many features, TraxView boasts functions for accounts receivable, commodity accounting, general ledger, order entry, and even point of sale (POS).
The order entry and POS functionality include barcode scanning with a real-time on-hand inventory, as well as seamless integration with the commodity accounting module, giving farmers a comprehensive view of their operations. In addition, pricing, tax rates, discounts, and shipping addresses are customizable for each customer. Inventory management is comprehensive, including tiered pricing, units of measure, and shortage notifications, giving farmers better control of their operations. Inventory valuations can be based on three different methods: Average, FIFO, and Lot Numbering.
Built-in payroll offers all typical payroll features, such as withholding tracking and direct deposit. Plus, farmers can track employee contributions to cafeteria plans, such as Section 125, and easily create and submit quarterly and annual tax filings from the stored data.
TraxView even includes a credit history feature that farmers can use to track which customers pay on time, which can help with decision-making related to extending credit or requiring prepayment. Prepaid contracts are tracked automatically in a sub-ledger, and customers can view their account information using OnlineAccess (formerly PatronAccess), which is an add-on module.
Other highlights that make TraxView an exceptionally well-rounded accounting application include production tracking, blending, purchasing, and sales analysis features. All these features combined into a single application reduce the need for third-party applications, and all required data for a profitable enterprise remains available in a single location. Similarly, AgRemote and Elevate bin management modules can be integrated for farms that are scaling and need additional functionality.
Access & users:
TraxView is a Windows-based application, meaning maintenance and security responsibilities fall on the farm owner or site manager. The application administrator creates the needed users and groups and explicitly sets permissions to ensure each user sees only the modules and data relevant to them. An audit trail allows the administrator to see which users have completed which actions in the software.
Ease of use:
It would seem logical to assume any application with such extensive functionality would be complicated and hard to use. However, the menu-driven application makes navigating TraxView easy and using each module very intuitive. Phone and email support is available if help is needed navigating the software.
Cost:
AgTrax does not provide a demo or a trial period version of TraxView. Pricing varies from customer to customer, and AgTrax does not provide pricing information on its website, which suggests that it may be cost-prohibitive for smaller farms.
Things we liked:
- Extremely rich feature set and functionality
- Granular user permissions
- Comprehensive features reduce the need for third-party applications
- Audit trail functionality improves data security
- Easy to navigate and set up
Things we didn’t like:
- Priced for large ranches or corporate farms
- Add-on modules are required for online access
- No mobile or iOS/Mac apps
CenterPoint Accounting Software for Agriculture
Best cloud-based accounting software for small to midsize farms.
Best for:
Small and mid-size farms needing a full-featured accounting package without a computing infrastructure overhead will likely find CenterPoint Accounting software for agriculture an ideal choice.
Key functionality:
CenterPoint (from Red Wing Software) can be installed as a cloud solution or a desktop solution and offers a versatile set of accounting tools for farmers to ensure yield profitability. The tools integrated into CenterPoint assist farm owners and managers with making wise business decisions. For example, the general ledger automatically calculates a number of ratios and indices, including ones recommended by the Farm Financial Standards Council and others developed by the Ferguson Group. Each ratio and index also allows for further drill-down and trend analysis across multiple years of information.
Critical features in CenterPoint include accounts payable, a simple accounts receivable function, financial analysis options to assist in budgeting, and cash management options to track the market value of everything from crops to livestock and equipment. Asset and liability tracking is also included, with automatic depreciation calculations and amortization schedules that save farmers tons of manual data entry and help with planning.
An add-on Accounts Receivable Module is available for farmers who manage complex invoicing and receivables, and farmers using this module can also take advantage of several different add-on modules. A robust Sales Order Module streamlines the quote to order process—including an automated back-order processing option. Similarly, an Inventory Module allows granular cost, value, unit of measure, and price tracking. The Purchase Order Module not only facilitates stock monitoring but also creates purchase orders automatically from sales orders as they’re generated.
Additional features key to sound financial management include a payroll integration option to ensure staff pay is accurate and easy to calculate. Plus, a Management Accounting Module that facilitates even more detailed reporting and analysis, including both cost and profit center reporting.
An added helpful feature is the Report Writer. This option creates easy-to-read and use reports based on the data stored by CenterPoint. The reports can be easily emailed to managers and employees by the application administrator. And, Schedule F information can be generated quickly come tax time.
Access & users:
The application administrator can create and manage multiple users and groups. CenterPoint is available via a web browser or mobile app in the field as long as the laptop or tablet connects to Wi-Fi or a cellular hotspot. The site administrator controls user and group access permissions at the company and menu level.
Ease of use:
Intuitive menus and browser-based access make CenterPoint an exceptionally easy-to-use application. CenterPoint also offers wizard-based data entry, adding significantly to the simple usability of the application. The menu-based security also contributes to the ease of use by ensuring a user is familiar with each module’s functionality and purpose based on assigned permissions. Red Wing Software offers in-person training for CenterPoint software for an added cost. However, free one-hour online video demonstrations are available to allow new users to get a feel for the software’s functionality.
Cost:
Farmers and ranch managers interested in implementing CenterPoint must contact the vendor for a quote. The cloud-based solution does incur a monthly hosting fee along with an up-front payment, while the desktop solution incurs an up-front payment and a yearly subscription fee. However, Red Wing Software does offer a free demo.
Things we liked:
- Cloud-based or local installation
- Scenario-based profit, cash flow, and strategy forecasting
- Advanced inventory control
- Free online demonstrations
- Wizard-based data entry
Things we didn’t like:
- What-if scenario feature lacking without detailed financial information
- More robust features require add-on modules
- Lack of public pricing suggests it may be expensive
Conclusion:
Farm accounting should be simple, but the sheer number of software packages on the market can leave you scratching your head. Unless you’re a farm owner yourself, it can be difficult to understand which one will suit your needs. However, we have researched each of these packages and conclude some of them are best for accounting software for farm business.