Financial Management

Managing finances

Keeping Accurate Digital Records

September 2, 2021
Accounting software can greatly improve the financial record-keeping of farms and ranches, but it is not a foolproof method of record-keeping. Here are some tips for keeping more accurate digital records, regardless of the software you use.

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Farmer in tractor
Lance Cheung, USDA (Flickr/Public Domain)

Use of Operating Agreements in Farming Operations

August 18, 2021
Nebraska is one of six states that legally require Limited Liability Corporations (LLCs) to keep an operating agreement, but operating agreements can benefit all farms and ranches.

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USDA NRCS Montana (Flickr/Public Domain)

Successful Grain Marketing Focuses on Establishing a Financially Successful Farm Price

July 22, 2021
This Center for Agricultural Profitability article highlights the role of expected revenue in relation to production costs in making the grain marketing decision as well as the creation and importance of your farm’s average selling price.

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Combine in field
USDA NRCS (Flickr/Public Domain)

Long Term Profitability, Balance and Growth of the Farm or Ranch Business

July 22, 2021
Nebraska Extension Agricultural Economist Matt Stockton examines the relationship between profitability and farm management in a balanced operation, and what it takes to be a skilled agriculturalist.

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Field of forage crop
USDA NRCS Montana (Flickr/Public Domain)

Managing Risk with Annual Forages

June 24, 2021
Annual forages are a useful tool to help manage erosion risk and build more resilient soil profiles. When planting annual forages to manage risk, producers may want to consider purchasing a crop insurance policy under the Annual Forage Insurance Plan (AFIP). 

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Recha Oktaviani/Unsplash

Have You Reconciled Your Bank Statements Recently?

June 17, 2021
Reconciling your financial accounts is vital — extension educator Jessica Groskopf offers insights on how to make this part of your bookkeeping process simple and expedient.

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Calendar stock image
Behnam Norouzi/Unsplash

Quality Decision-making: What Should Farmers and Ranchers Be Paying Attention to Now?

May 20, 2021
To prepare producers for sustainability in the rapidly changing agricultural industry's environment, this article reviews tactics for protecting liquidity, reducing debt and managing law changes.

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Harvesting crops in field

Farm Income and the Safety Net in 2021

May 20, 2021
In this article, a brief analysis of farm income and federal farm income safety net programs provides some insight on current conditions and on potential future directions for ag policy and farm economics.

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