![]() ![]() ![]() ![]() While it is moderately good in relation to all those factors, the reason I recommend it is QuickBooks is more widely accepted as the go-to software for small businesses. It is not so much that this is the best ledger program or the cheapest or the easiest to use. While there are bunch of good ledger programs out there, I personally only recommend one application and that is QuickBooks by Intuit. Trust me though, with the time he would have saved if he had access to a modern ledger program (aka bookkeeping software), he would have jumped at it. Importance of Bookkeeping Software: embrace the modern ledgersįirst things first, USE BOOKKEEPING SOFTWARE! Don’t try to make a spreadsheet for it, don’t try and do it by hand with Thirteen Column and definitely do not use a shoebox to accumulate receipts! Sure, you watched your grandfather keep the books from his kitchen table with Thirteen Column and it looked like it worked for him. The best thing you can do is to talk to your CPA, they will help you navigate through setting up your business. To keep this from getting too confusing, we won’t tackle any of that in this blog. are handled on their individual income tax return (overall gives you more of a benefit in the beginning). While this is the entity that everyone, except businesses with more than one proprietor (Partnerships), will find themselves in as a default, this is the entity that I recommend new flower farmers stick with in the beginning for various reasons, mainly the way losses from a Sol-Prop. also reports their annual activity on a Schedule-C, or in the case of a farmer a Schedule-F, which is included with their Federally filed individual income tax return (Form 1040). Once again, this is something to discuss with your CPA.Ī Sol-Prop. Typically, first year flower farmer’s will not be looking at setting up an LLC or S-Corp or C-Corp, in fact it may take a few years to get to the point where that is needed. It will tell you the health of your business that will allow you to make better business decisions and to keep growing more beautiful blooms.Ī Sol-Proprietor (Sol-Prop.) is basic, it’s the default status that a single business owner finds themself in unless they set up a different entity for their business, namely an LLC, an S-Corp or a C-corp. Bookkeeping is essentially keeping your finger on the pulse of your flower farming business. This blog is going to go over the basics of bookkeeping, specifically for flower farmers, and some basic tricks to make the process easier to juggle in your complex farm life. If you have already guessed what topic I’m getting at by these adjectives, you probably have personally experienced these feelings in attempt to handle it, or you just read the title of this blog… Anyhow, you are here to figure out how to handle the task of bookkeeping more efficiently and cleanly, and in a manner that lets you get as much information out of the time and effort that you put into it with the limited time you have. Specifically: dread, anxiety and hatred for being forced to do a task that is a byproduct of something you love but only takes away your time for that. In fact, I would say, all we are going to try and accomplish here is the prevention of the opposite feelings. Well, this topic isn’t going to invoke those feelings. I mean, I don’t know this feeling, but I have witnessed it many times sitting next to my wife at the kitchen table while she eagerly shows me everything new that we are going to be growing next season. You know that feeling you get when you take that freshly opened box of seed packets and dump it out on your bed and spend the night dreaming about all those gorgeous flowers that you are going to grow in the coming season? It’s almost like a scene from a bank robbery movie after the thieves are back at their hideout and dump out the duffle bag of cash on the bed and stare at it with the look of giddy smeared over their faces… ![]()
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