Farm finance benefits – knowing and protecting your bottom line

Farm FinancesAs your family’s operation progresses, proper financial management and understanding become crucial.

Given today’s ag environment, the need for increased financial sophistication, benchmarking, and accuracy is greater than ever before, as is the risk associated with inadequate financial management.

By joining FamilyFarms Group, you’ll get the analysis, tools, and training you need to achieve and maintain optimal financial health – vital in keeping your family farm alive and successful.

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It’s not just about your level of profitability, but about financial processes and continual improvement

Financial analysis

Regardless of what accounting software you use, FamilyFarms Group’s expert consultants will help you understand where you are, determine next steps and help you implement.

Financial AnalysisUltimately, this will give you better financial status, while better positioning you to obtain loans.

We start with a visit to your farm to evaluate:

  1. Current system, staff, and quality of information.
  2. Your current purchasing, receiving, inventory management, payment, and cash management processes.
  3. Other related processes and procedures.

You will then receive suggestions for improvement and  assistance with implementation.

Additionally, FamilyFarms Group has trained staff who will get you prepared for lender reviews or other examinations of your finances.  Full financial consulting and HPA’s are also available.

Financial tools

Financial Tools

As a FamilyFarms Group Member, you’ll have greater access to:

  • Operating lines of credit
  • Advice for working with your current lenders
  • Proven, effective processes to collect, organize, track, and report your data
  • Analysis tools to interpret the data and use it to make better decisions for your farm
  • Help finding and hiring qualified employees to help manage your finances.

Financial training

Financial Training

You can count on FamilyFarms Group for the training you need.

For example, learn:

  • What your financial information means and why it’s important to your big picture
  • How to monitor key metrics and establish healthy ranges for each metric
  • Efficient delivery/invoice processes for inventory control
  • Accrual accounting practices and how to apply them

Simply reviewing your farm finances at tax time will not assure you of good financial health. That’s why FamilyFarms Group provides Member operations with a variety of resources, tools and training to help make you and your staff self-sufficient and keep your farm financially solid.

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