Farm accounts

the quiet fella

With the start of the new year and hopefully with the best intentions at the start of the year to keep things in order would anyone be willing to share a excel template of how they keep track of their accounts. Even just a picture to see what heading etc I should use

Bit if a background only small time here but usually just gather invoices in a box and hand them to accountant at end of year and let them sort. Would much prefer to have a lot of the prep work done myself rather than incurring additional costs.

Siamsa Sessions

the quiet fella wrote: »

With the start of the new year and hopefully with the best intentions at the start of the year to keep things in order would anyone be willing to share a excel template of how they keep track of their accounts. Even just a picture to see what heading etc I should use

Bit if a background only small time here but usually just gather invoices in a box and hand them to accountant at end of year and let them sort. Would much prefer to have a lot of the prep work done myself rather than incurring additional costs.

We use a very simple Excel sheet here. Sheet 1 is outgoings and headings are Date, Amount, Item, Who/Supplier, Notes.

Sheet 2 is income and has similar headings.

The Notes are things like 'Fencing', 'Animal health', 'Travel' (drive to mart, etc.)

Will try to make it more sophisticated this year but the above has helped us to help the accountant, and try to bring down his fee :-)

duffysfarm

If I were you u would look at the headings in your profit and loss that your accountant prepares and use these headings. Also make sure that you have all of your bank statements invoices and sales were possible. As an accountant there is nothing as frustrating as missing bank statements and also make sure that some one else can read your cheque stub writing. I would try and have a read own of what each lodgement is for and also you should include your stock movements and subsidies received from the doa website.

C4d78

Formed a company in last few years. Fee has increased from 2,000 pa to over 3,000 pa.
I know there is extra work but didn't think they'd be a 50% increase.
I know it's always possible to find cheaper accountants . Like anything else you get what you pay for and I am happy with the service.
Just wondering what are others who are in a Ltd co paying pa.

Sam Kade

C4d78 wrote: »

Formed a company in last few years. Fee has increased from 2,000 pa to over 3,000 pa.
I know there is extra work but didn't think they'd be a 50% increase.
I know it's always possible to find cheaper accountants . Like anything else you get what you pay for and I am happy with the service.
Just wondering what are others who are in a Ltd co paying pa.

That's one saying I always hate because you can also get a lot less than you pay for sometimes more than you pay for. Just because you pay mad money for an item or service doesn't mean you are going to get what you pay for. Rant over

kerry cow

I use a nation wide accountancy firm that features alot in the ifj and also friendly with bluebell .
I think in more recent years their self opinion is gone through the roof along with their prices .what they now charge is nuts considering the pit farming is in .09 was a dairy crash , we recovered .12 was a fodder shortage , 14 was milk quota woes , 16 was a dairy and tillage crash and yet these acountants can increase that or fees up and up .
To ask a simple question ,now could cost you 500 euro or do a employee quarterly return 300 or 400 euro .

cacs

the quiet fella wrote: »

With the start of the new year and hopefully with the best intentions at the start of the year to keep things in order would anyone be willing to share a excel template of how they keep track of their accounts. Even just a picture to see what heading etc I should use

Bit if a background only small time here but usually just gather invoices in a box and hand them to accountant at end of year and let them sort. Would much prefer to have a lot of the prep work done myself rather than incurring additional costs.

I use agrinet software for my account. I can't speak high enough of if you like to understand your costs. I have only a small farm 14 cows and I think the €190 annual subscription is the best money I spend without doubt. I have a full understanding of all my accounts and cost. It also has an animal register where I can all movements to agfoods updates to icbf all medicines administered. Grass measuring tool by paddock which I haven't used yet. It gives me me power to run my farm like a business.

Sam Kade

kerry cow wrote: »

I use a nation wide accountancy firm that features alot in the ifj and also friendly with bluebell .
I think in more recent years their self opinion is gone through the roof along with their prices .what they now charge is nuts considering the pit farming is in .09 was a dairy crash , we recovered .12 was a fodder shortage , 14 was milk quota woes , 16 was a dairy and tillage crash and yet these acountants can increase that or fees up and up .
To ask a simple question ,now could cost you 500 euro or do a employee quarterly return 300 or 400 euro .

They are a joke, too many fat cats in the head office twiddling their thumbs. Why don't you change accountant?

Sam Kade

cathal irwin wrote: »

I use agrinet software for my account. I can't speak high enough of if you like to understand your costs. I have only a small farm 14 cows and I think the €190 annual subscription is the best money I spend without doubt. I have a full understanding of all my accounts and cost. It also has an animal register where I can all movements to agfoods updates to icbf all medicines administered. Grass measuring tool by paddock which I haven't used yet. It gives me me power to run my farm like a business.

Is it just 190 a year or do you have to pay more the first year for software etc.

whelan2

cathal irwin wrote: »

I use agrinet software for my account. I can't speak high enough of if you like to understand your costs. I have only a small farm 14 cows and I think the €190 annual subscription is the best money I spend without doubt. I have a full understanding of all my accounts and cost. It also has an animal register where I can all movements to agfoods updates to icbf all medicines administered. Grass measuring tool by paddock which I haven't used yet. It gives me me power to run my farm like a business.

Had a problem with my farm package over christmas, I sent agrinet an email and they rang me and guided me through fixing it. Great service, with them since they started out, I dont use the accounts package as much as I should but will try to this year

dar31

cathal irwin wrote: »

I use agrinet software for my account. I can't speak high enough of if you like to understand your costs. I have only a small farm 14 cows and I think the €190 annual subscription is the best money I spend without doubt. I have a full understanding of all my accounts and cost. It also has an animal register where I can all movements to agfoods updates to icbf all medicines administered. Grass measuring tool by paddock which I haven't used yet. It gives me me power
to run my farm like a business.

They now have a new Web based accounts system called cashminder. Used it this year and very easy to use.

lakill Farm

C4d78 wrote: »

Formed a company in last few years. Fee has increased from 2,000 pa to over 3,000 pa.
I know there is extra work but didn't think they'd be a 50% increase.
I know it's always possible to find cheaper accountants . Like anything else you get what you pay for and I am happy with the service.
Just wondering what are others who are in a Ltd co paying pa.

once the company is audit exempt the work load should be very similar, maybe 2 hours additional work.

TITANIUM.

cathal irwin wrote: »

I use agrinet software for my account. I can't speak high enough of if you like to understand your costs. I have only a small farm 14 cows and I think the €190 annual subscription is the best money I spend without doubt. I have a full understanding of all my accounts and cost. It also has an animal register where I can all movements to agfoods updates to icbf all medicines administered. Grass measuring tool by paddock which I haven't used yet. It gives me me power to run my farm like a business.

Jasus Cathal that sounds like one of those testimonials in the journal.
It should have ADVERTISERS ANNOUNCEMENT above it.

cacs

TITANIUM. wrote: »

Jasus Cathal that sounds like one of those testimonials in the journal.
It should have ADVERTISERS ANNOUNCEMENT above it.

I thought it read well alright

Sam Kade

TITANIUM. wrote: »

Jasus Cathal that sounds like one of those testimonials in the journal.
It should have ADVERTISERS ANNOUNCEMENT above it.

Yeah, he's also hiding the true cost of it.

Username John

Sam Kade wrote: »

Yeah, he's also hiding the true cost of it.

http://www.agrinet.ie/Pricing

Are there more add-ons you have to get, once you start using it?

Sam Kade

Username John wrote: »

http://www.agrinet.ie/Pricing

Are there more add-ons you have to get, once you start using it?

I emailed agrinet today those are the prices including VAT for the full package, it's a yearly subscription for upgrades eg. €220 for dairy. There's no start up cost other than €220 for the first year.

whelan2

Sam Kade wrote: »

I emailed agrinet today those are the prices including VAT for the full package, it's a yearly subscription for upgrades eg. €220 for dairy. There's no start up cost other than €220 for the first year.

I pay 190/year maintenance etc

ArKl0w

whelan2 wrote: »

I pay 190/year maintenance etc

That's what I pay for kingswood

Sam Kade

whelan2 wrote: »

I pay 190/year maintenance etc

I assume it's because you are a long time customer of theirs, it's €220/year now.

whelan2

Sam Kade wrote: »

I assume it's because you are a long time customer of theirs, it's €220/year now.

Yes I'm very special

Bass Reeves

Just to note vat on accounts is 22% so about 180/1k euro. My own fees have gone to 850/year so about 700+ vat. I just give them the reciepts in bunches and bank statements and let them at it. Too much hassle to be sorting this and that and doing accounts to save 8-12 euro/ hour work. Remember you are also paying for there expertise if you get an audit.

You would want an awful lot of accounts work tonnage to pay 2-3k for accounts. Mine include employee returns as well. They do the VAT reclaim as well.originall back in 2003 I paid 350 euro, this rose to about 500 by 2010. Then when they started doing employee returns it claimed to 650 but I am getting edgy as it climbed 200 euro in last 3 years.

lakill Farm

Bass Reeves wrote: »

Just to note vat on accounts is 22% so about 180/1k euro. My own fees have gone to 850/year so about 700+ vat. I just give them the reciepts in bunches and bank statements and let them at it. Too much hassle to be sorting this and that and doing accounts to save 8-12 euro/ hour work. Remember you are also paying for there expertise if you get an audit.

You would want an awful lot of accounts work tonnage to pay 2-3k for accounts. Mine include employee returns as well. They do the VAT reclaim as well.originall back in 2003 I paid 350 euro, this rose to about 500 by 2010. Then when they started doing employee returns it claimed to 650 but I am getting edgy as it climbed 200 euro in last 3 years.

Standard rate vat 23%

J.O. Farmer

lakill Farm wrote: »

Standard rate vat 23%

Perfect example of accountants expertise.

freedominacup

whelan2 wrote: »

Yes I'm very special

You're not that special. I didn't think it was gone to 190. Wouldn't be without it. Using it here either twenty or twenty one years now. Hopefully the public service mentality won't start to prevail with the new regeime.

cacs

Sam Kade wrote: »

Yeah, he's also hiding the true cost of it.

I don't get yea.