Tax time…two of the most hated words in all the land. No one likes spending hours doing manual, paper-based bookkeeping or scrambling at year-end to get all of your farm records in order. That is why we built the Year-End Summary feature for you!
Take a look how Summary feature can help you with your tax preparation
The Year-End Summary will be available one day after your year-end date. By default, your year-end date is set to December 31st. You can edit your year-end date by following these steps:
- Log in to http://app.farmathand.com
- Click on the Welcome, (Your Name) on the top right hand side corner
- Select Farm Settings
- Click Edit
- Enter your Year-End Date (this is set to December 31st by default)
- Click Save
Your Year-End Summary will have the following information:
Fixed Assets –
All equipment that you have purchased within the past year will be shown here. Make sure that you date your purchase, as well as include the purchase price when adding a new equipment. Only equipment that you own will be available.
On-Hand Pre-purchased Inventory –
Your seed, chemical and fertilizer purchases from within the past year will be shown in this section. Make sure you put this information under the Inputs section in Storage and include the purchase date, price and amount.
On-Hand Produced Inventory –
Your harvested inventory that is in storage at year end. Make sure all your bin and grainbag contents and amounts are up-to-date.
Your deliveries for the past year. Mark your deliveries as paid, and include the date and amount paid in the Deliveries section to make sure they show up in Year-End Summary.
Ensure your data is up-to-date and correct prior to your year-end date to make the most out of the Summary feature.