Choosing the right accounting software for your farm
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EmailFactors to consider when it’s time to upgrade or choose farm accounting software.
Running a successful farm today requires more than just agricultural know-how; it also demands smart financial management. Whether you are managing a small family farm or a large-scale agribusiness, choosing the right accounting software can streamline your operations, improve decision-making, and ensure compliance with tax regulations.
Here is a guide to help you select the best accounting software for your farm:
Understand your farm’s needs
Before diving into software options, assess your farm’s specific requirements:
- Size and complexity: Do you manage multiple crops, livestock or locations?
- Employees and payroll: Do you need to handle payroll, benefits or seasonal workers?
- Inventory tracking: Do you need to track feed, seed, fertilizer or equipment?
- Financial reporting: Are you looking for detailed reports for lenders or tax purposes?
Key features to look for
When evaluating accounting software, identify which features are most important for your farm's needs:
- Farm-specific chart of accounts and units of measure: Tailored categories and units for agricultural income and expenses.
- Inventory and asset tracking: Manage livestock and crop inventory and/or track machinery purchases.
- Payroll integration: Easily handle wages and benefits for seasonal and full-time employees.
- Mobile access: Ability to update records from the field or barn.
- Cloud-based vs. desktop: Access your data anywhere from the web or use desktop software if internet service is unreliable.
- Multiple users: Define roles for each user and have multiple users using the application at the same time.
- Tax compliance: Generate reports for Schedule F and other farm-related tax forms.
- Integration with banks and credit cards: Automate transaction imports and reconciliations to reduce data entry.
Consider your budget
Prices vary widely—from free or low-cost options for small farms to premium solutions for large operations. Consider:
- Subscription fees: One-time purchase or subscription costs per month or year.
- Add-ons: Payroll, inventory, or mobile access may be included or may cost extra.
- Support and training: Some platforms offer free onboarding, while others charge for support.
Top accounting software options for farmers
Here are some popular choices among farmers, all of which include a farm-specific chart of accounts and units of measure and offer U.S.-based technical support with agriculture experience:
Software packages created for agriculture
PCMars is a straightforward, cost-effective desktop software solution. It has options for advanced inventory and payroll. It does not support multiple users simultaneously, but it does allow roles and preferences by user. There is an enhancement available to purchase if you’d like remote access. Schedule F reports can be printed to help prepare tax forms. Support is offered by the MSU TelFarm program.
Ambrook is a cloud-based accounting software that offers a mobile application and supports multiple users simultaneously. It is fully banking-integrated with the option to import instead. Invoicing and credit cards can be processed using the mobile application. It does not include inventory or payroll. Schedule F information can be printed or exported.
EasyFarm is a desktop, single-user program with highly customizable options and a one-time fee. There is an optional crop and field application add-on. Inventory is included in the base program, but payroll is an added cost. Many custom reports, including Schedule F information, are available.
FarmRaise is cloud-based, accounting-only with a mobile app for invoices, but it is not linked to inventory. It is a monthly subscription fee format and currently allows a single user. It includes weekly updates to FSA funding opportunities. Payroll is an additional option. Tax form preparation reports are included.
Traction is built for larger farms, offering accounting, field records, equipment tracking, and integration with field-specific data applications, including John Deere Operations Center or Climate FieldView. It is cloud-based, includes mobile applications, and offers multiple users and multiple entities per subscription, paid monthly or annually, and is on the higher end due to the advanced features available.
CenterPoint Accounting for Agriculture by Red Wing includes more advanced features for medium to larger farms. There is an option to install the software as a desktop application or use a cloud-based version. Pricing is customized per farm and is not published.
Non-agricultural applications
QuickBooks Online is one of the more widely used programs. It is cloud-based, customizable, and has a monthly subscription fee structure. There may be more options needed than most farms would use, yet it is preferred by accountants for the reporting and multiple-user ability that allows quick access to your books. There is a simplified version called QuickBooks Online Simple Start that has limited ACH transactions and fewer options, but it is more affordable.
Quicken is a well-known accounting and personal financial management program. If you’re looking to combine your personal and farm information, this could work, but it would be limited to basic accounting functions, including invoicing and accepting credit cards using the mobile version. It can be installed on your computer or run as a cloud-based program. A monthly subscription varies depending on options.
Wave is a free, simple, cloud-based accounting application for a single user. Additional options, such as scanning receipts or payroll, are available for a fee.
Disclaimer: This information was primarily obtained from the linked websites above and may need to be verified, as modifications and software updates occur frequently. Most pricing can also be found using the links, as they are subject to frequent changes and discounts.
See the MSU Extension publication Accounting Software Options for Farmers for more details on each application.
Test before you commit
Most software providers offer free trials or demos. Use this time to:
- Explore the interface and its ease of use.
- Test key features such as invoicing, expense tracking, and reporting.
- Evaluate how responsive customer support is.
Work with your accountant
Involve your accountant, bookkeeper or farm business management professional in the decision. They can:
- Recommend software that integrates with their systems, possibly saving time and money or facilitating tax planning and reporting.
- Help set up your chart of accounts to best match your farm’s needs.
- Ensure compliance with tax laws and reporting standards.
Choosing the right accounting software is an investment in your farm’s future. The right tool will save you time, reduce errors and offer a clearer view of your financial health, so you can focus on what you do best: farming.
