Products & Services

Financial Record-Keeping

We keep an eye on your bottom line.

As an ag business owner, your financial condition and profitability depends on solid records, timely reports and sound advice. At Farm Credit East, we provide comprehensive financial record-keeping services from accounting professionals trained in ag-related rules and regulations.

Contact Us

How we do it

Mail-in service. 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.

On-farm accounting. 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.

CenterPoint® Accounting Software. Using a profit increasing application from Red Wing, we can handle complete financial reporting for just about every accounting need including check writing, check reconciliation, basic payroll, balance sheets, management reports, invoices, and payables and receivables. Learn more

Software support. 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.

Financial Reports Available Through Farm Credit East

  • Profit & 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

Are you complying with ag-related rules and regulations?

Contact a Farm Credit East financial services expert to review your needs (for first-time record-keeping customers).

Schedule A Review

 
F.A.Q.
  • What are my responsibilities as a customer?
    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.
  • How will record-keeping help me financially?
    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.
  • Will you work with my current bookkeeper?
    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.
  • What is the cost?
    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.
View From The Field

A seamless transition

The Kurtz family operates Kurtz Farms, a successful wholesale greenhouse business located in Cheshire, Conn. When their accountant moved to Florida a few years back, they were in need of someone to take over their records, but didn’t want the burden of bringing an accountant up to speed on the intricacies of their agricultural business, so they called Farm Credit East.

How we helped

Earl has been pleased with the relationship he’s formed with Farm Credit East. “It’s been great to work with folks who understand what a farm is all about and how accounting principles apply to agricultural products,” he said. “I can ask questions and they can provide informed recommendations.” As Earl looks towards the future, he foresees working with Farm Credit East to evolve the business. “Through our records relationship, Farm Credit may identify a need or an opportunity for improvement in our business and as we move forward we’ll work with them to get it done.”

At Farm Credit East, they understand how accounting principles apply to agricultural products and are able to answer my questions.
-Earl Kurtz
Kurtz Farms LLC
Cheshire, Conn.