![]() ![]() ![]() If you want to run a profitable business, and would like to know how your birds are doing, what areas could be improved upon for efficiencies, and what.įinancial records include keeping track of all farm-related expenses and income, grants or funding received, tax paid, payroll and any other relevant tax information. Keeping track of this kind of information can not only be important for a complete financial picture, but could also be helpful in the event of a disease outbreak or other food safety issue. where you purchased each bird (or if you hatched your own).From an on-farm food safety perspective, you should be tracking things like: Not only does keeping an accurate inventory of your birds make it easier for you to manage them, it can also be a requirement of production licensing, depending on how many birds you have and where your farm is based. Here’s a rundown of what you should be tracking, and why: The answer is simple: everything.Ĭonsider yourself something like Sherlock Holmes - the more information you have the better for problem solving, and determining your overall farm health. Maybe you know you need to keep better records, but don’t know what you should be recording to get the best overall production picture of your poultry farm. So, if you want to run a profitable business, and would like to know how your birds are doing, what areas could be improved upon for efficiencies, and what your cost of production is, then record keeping is an absolute must.įinancial records include keeping track of all farm-related expenses and income, grants or funding received, tax paid, payroll and any other relevant tax information. The Dollars and Sense report identified seven practices that drive farm success, including continuing learning, making business decisions using accurate financial data, seeking out help from advisors and consultants, creating and following a business plan, monitoring cost of production, risk assessment and management, and using a budget. ![]() According to a study commissioned by the Agri-food Management Institute and Farm Management Canada, farm business management is one of the determining factors for a successful farm enterprise. The question I sometimes ask myself as I sift through my records is, is it worth the effort? Beyond the bare minimum of what’s needed for tax purposes, is it really worth keeping extensive records, especially for a small farm?Įxperts would argue that tracking things like expenses, production, inventory and overall flock management is important for any farm, regardless of size. ![]() As the days and weeks slip closer to the April 30 tax deadline, I inevitably think about record keeping, dragging out every receipt I’ve accumulated over the past 365 days, including crumpled feed invoices and faded fuel receipts. ![]()
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