Accounting Software

[Steve]

Greetings, I am looking for advice on accounting software for farm business purposes. I am currently using Bottom Line Accounting, and is adequate but not spectacular. Of course the version I am using is not y2k compatible so I am forced to change programs. I am looking for something quite in depth that adheres to accounting principles (debits, credits etc.). I would like to have several levels of entry (drill down type stuff), whereby I can enter a transaction and have it go to tax accounting, enterprise analysis, inventory traking, expense traking etc. I know of some software capable of these things but I am looking for input on peoples experiences to help aid my search.

[jlamb]

There are several programs that seem to be quite prevalent. For an Canadian agricultural program - Settler Computer Technologies seems to be the only player at the table. To their credit Settler has a solid software program in Gold, backed by very industry specific support. It is supported by accounting firms such as Meyers Norris and Penney and offers a series of training seminars to complement the software. While the price is higher, when you pick up the phone you are speaking to someone who understands your business and the differences between farming accounting requirements and small business accounting requirements. We have always had a good relationship with Settler Ag Software so I may be biased in my answer. I would encourage others using Settler to give their feedback on this program. I do not have a lot of information on New Views but know of several clients using this program. You may want to research this program. Finally, there are always your standard small business packages of Quickbooks, Simply Accounting and MYOB. We previously used Quickbooks. I personally am not a big fan of this program because of the ease in which transactions can be modified with no audit trail. We now use Simply Accounting and I know there is a big following for this program also. Of your requests all the afore mentioned packages can handle them. Bottom line . . . whatever package you buy, make certain there is training and strong support available for it in your area. Good luck and let me know what you find. Jory Lamb PS There was a conversation on Agriculture software in the farm management room not too long ago if you check in there you may find more useful information.

[kaniteo]

Jory, QuickBooks now has an audit trail (actually has since version 5.0, maybe even 4.5 - can't remember that far back). The current version is 6.0 r5. Few people are aware of this feature, however. It is a preference that can be turned on or off. With a large file, turning the audit trail preference on tends to slow transaction processing as QuickBooks does all the reversing entries in the background. With a relatively fast computer, however, its not an issue. I always tell my clients to leave it on. Since version 5.0, QuickBooks also has a feature called an accountants review, whereby your accountant can receive a copy, make his or her adjustments and then send them back to you without you losing any accounting time. Regardless of the software, I think the critical factor in any successful farm accounting program is a solid chart of accounts. I find this is the area the most producers have difficulty with and I think, the main reason Settler has become so popular. Ted

[jlamb]

Thanks for the update on Quickbooks! As an aside . . . Ted has cited that chart of accounts are a critical factor in any successful farm accounting program. I would also agree that this is extremely important. To back up one step I might suggest the most critical factor for success of any computerized system is a strong paper based system. We have seen clients purchase software with the assumption that computerizing the books will organize their accounting system. What we have found is quite the opposite. Without a proper system in place the software program can be overwhelming and frustrating or may output information that is either meaningless or misleading. Your thoughts and comments are appreciated. Jory Lamb

[wwkougar]

In my humble opiion, Quickbooks is the most versatile accounting package for a farm based business. The reporting ability alone blows Simply Accounting out of the water. Stettler seems klunky and overpriced. If you want more information on how to set up Quickbooks for agriculture, visit the web site for FLAGSHIP TECHNOLOGIES. It offers add-on software that allows the reporting on an enterprise basis as well as quantities. They offer a book called the 'Quickbooks Farm Accounting Cookbook'

[goldrush]

The Flagship Tech. add on software for Quickbooks does not work with Canadian versions of Quickbooks i.e. can not input Canadian tax code info etc. I found this out after downloading the demo ManagePlus. Glen

[wwkougar]

Which version of quickbooks do you have? if you have 4.5 then use the manageplus setup for 4.0 instead of 5 I have not tried it on version 6.0 yet because I haven't had it that long yet

[goldrush]

We are running version 6.0 and were informed that manageplus is not available i.e. will not work with the Canadian version of QB 6.0.

[mdimit]

I have used settler software for quite a few years and it is a very good program. It does a great job with gst and it also prints out a form you can use. I think that one of the keys in this program is that it is simple, does a good job of sorting Income and Expense and has an update almost every year.

[lunden]

The Canadian Farm Business Management Program funded a review of the major farm accounting software packages. The results of the review can be found at the web address below.