Agricultural Bookkeeping: Quickbooks Or Quicken (Page 2 of 14) in pdf

FILES ~ ACCOUNTS ~ CATEGORIES

Common Agriculture Categories (Accounts in Quickbooks)

Farm Income:

Farm Expenses:

Non-Farm Income:

[ ] Purchased Cattle

*[ ] Asset Purchase

[ ] Interest Income

[ ] Purchased Hogs

[ ] Conservation

[ ] Dividend Income

[ ] Raised Cattle

[ ] Machine Hire

[ ] Unemployment Comp

[ ] Raised Hogs

[ ] Depreciation

[ ] Soc Sec Benefits

[ ] Salaries

[ ] Corn

[ ] Employee Benefits

[ ] Beans

[ ] Feed

[ ] Other

[ ] Oats

[ ] Fees, Dues, Subscriptions

_______________________

[ ] Hay

[ ] Fertilizer

_______________________

[ ] Capital Sale

[ ] Chemical

[ ] Coop Dividend

[ ] Freight & Trucking

Family Living Expenses:

[ ] Gov’t Pymnt

[ ] Fuel & Oil

[ ] CCC Grain Loans

[ ] Insurance (crop, farm, truck)

[ ] Family Living

[ ] IRA & Keogh Contrib

[ ] Crop Ins. Proceeds

[ ] Interest

[ ] Machine Work

[ ] Labor

[ ] Student Loan Int. Paid

[ ] Health Ins. Premiums

[ ] Gas Tax Refund

[ ] Land Rent

[ ] Culled Bulls & Cows

[ ] Professional Fees

[ ] Child Care Expenses

[ ] Culled Sows & Boars

[ ] Rent (machine/equip)

[ ] Medical/Dental/Rx

[ ] Auto Taxes (non business)

[ ] Other

[ ] Repairs

_____________________

[ ] Seed

[ ] Interest on Home

[ ] Home Real Estate Taxes

_____________________

[ ] Storage

[ ] Supplies

[ ] Investment Interest Paid

[ ] Donations

[ ] Taxes (real, pers p, payroll)

[ ] Utilities (elect, phone, water)

*[ ] Gas

[ ] Vet & Medication

*[ ] Auto

*[ ] Daily Living

[ ] Other

_______________________

*[ ] Education

*[ ] Utilities

_______________________

*[ ] Life Insurance

Be sure to open your category list in Quicken or account list in Quickbooks and

*[ ] Phone

delete all the categories/accounts in the list that were put there by the software

*[ ] Income Taxes

company.

[ ] Other

________________________

Only add categories/accounts that pertain to your operation. Keep the list to as

________________________

few as possible, according to what you need for taxes and bank forms. Also keep

________________________

in mind subcategories will automatically add two lines in all reports, try not to use

these too much, unless you truly need a category split into more areas for making

decisions, such as Fuel: gas, diesel, propane, oil can be subcategories. Insurance

* Nontaxed Expenses

is another example for using subcategories.

In Quicken, Be sure to check the appropriate categories as taxable while setting

them up so that you can generate reports filtered to call up only taxable categories.

Agricultural Bookkeeping: Quickbooks Or Quicken Page 2

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