Your business relies on solid records, timely reports and sound advice.
Services We Offer
You provide us with your basic income and expense information (check, deposit and payroll data). We will prepare and return management, tax and financial reports.
The ideal solution if you need an on-site bookkeeper without the full-time expense. Our specialists will enter your income and expense data, develop custom management and tax reports, and provide a regular analysis.
Farm Credit East partners with Red Wing Software to offer CenterPoint Accounting software for agricultural producers. CenterPoint is payroll and recordkeeping software that allows agricultural operations to customize the program depending on commodity and needs of the farm operation. Through CenterPoint, we can handle complete financial reporting for just about every accounting need, including check writing, check reconciliation, basic payroll, balance sheets, inventory management, invoices, budgeting, and payables and receivables.
Regardless of your software, we can work with you to ensure your records are accurate and up to date. Depending on the size and nature of your business, we can customize services to meet your requirements.
Does your accounting software need an upgrade? Complete our quick survey to find out.
Financial Reports Available Through Farm Credit East
- Profit and loss statements.
- Monthly reports on cash flow, cash summary, payroll, debt status, investments and savings.
- Tax planning and cash flow worksheets.
- Capital assets.
- Selling of assets.
- Year-end reports for tax preparation, including W-2 forms.
Contact your local Farm Credit East office to learn more about how we can help you with your recordkeeping needs.
If you contract with us for record-keeping services, you’ll be required to pass accurate information and receipts to us on a regular basis. We will then provide professional record-keeping and reporting for your taxes and assist you with business planning.
The reports that Farm Credit East provides will give you an accurate financial picture of your business and better information for your decision-making. Plus timely, well-prepared records aid effective tax planning, which can help to minimize your tax burden. A better record-keeping system is a major step toward improved profitability.
We are willing to do on-farm visits to review your financial records with your bookkeeper who may be busy with the day-to-day tasks of paying bills and recording entries. Farm Credit East can review the bigger picture and provide additional support.
We charge by the number of hours needed and the complexity of your operation. Our records specialist can give you an estimate after discussing your current records and your record-keeping needs with you. Most often, we quote an annual fee for this service. If you are not happy with our service, we have a satisfaction guarantee.
“Switching our records to Farm Credit East was easy. They know the farm rules and laws necessary for accurate accounting.”
Spielman Farm, LLC
View From the Field
Art Spielman has been working on his family’s dairy farm since he was eight years old. Today, Spielman Farm, LLC, in Baltic, Connecticut, has 1,200 cows, milking over 600, and also operates a custom harvesting business. Art’s parents had been utilizing some of Farm Credit East’s other services, including credit services and consulting, and when Art transitioned into a management role several years ago, he decided it would be a good business decision to add payroll and financial record-keeping to the list.
Before transitioning to Farm Credit East’s record-keeping service, Art’s mother took care of the books. “The tax and payroll laws started to get too complicated,” explained Art. So, the Spielmans put their trust in the employees at Farm Credit East. “They stay up to date in agricultural tax and payroll laws so that it’s one less thing we have to worry about,” said Art. Additionally, Art says that maintaining all of their accounting services, including payroll and taxes, in one place has been a huge benefit. Now, Art and his family have more time to focus on the other important aspects of managing their business and are equipped with accurate and timely reports to help guide their decisions.