LEARNING highlights

  • Courses
  • Resources
Filter by
Category
RESET
Filter by
Type
Category
RESET

This book takes a pragmatic approach to financial record-keeping, explaining how important it is to have accurate information about transactions but offering a variety of simple approaches which farmers could use to help them keep track of their income and expenditure.  As a first step simply keeping the paperwork associated with financial transactions in a safe and organised manner is recommended.  This could be supplemented with notes made on a calendar or in a notebook.

If a farmer has prepared a cash flow plan as suggested in Book 1 of this series, one of the most useful things he can do is to compare his actual expenditure and receipts with those he included in his plan. This monitoring procedure is perhaps the best way for anyone to improve their money management.  Problems can be identified early and steps taken to avoid financial difficulties.

For those convinced of the merits of record-keeping, alternative cash book layouts are described and in the final chapter, the idea of using a bank account is introduced together with ways of incorporating bank transactions into a cash recording system.