Record keeping is one of the important aspects of farming that can make or mar a farm enterprise. A farm record is a document meant to keep details of every event within the farm; procurements details, cost and revenue, sales records, and other events that need to be captured in simple farm records for the sake of making productive decisions. The importance of record-keeping in agriculture cannot be overemphasized.
Farming has different sectors and every sector is very relevant in economy building as they are interwoven in terms of their operation. It is very possible you run a large farm with multiple enterprises; crop production, animal husbandry, logistics system, etc.; with proper record keeping, each of these farm enterprises can be monitored to determine how profitable each enterprise is. All you need is a tractable farm record-keeping book where all enterprises are listed and figures related to individual enterprises are recorded accordingly.
A farm manager must be a good record keeper because farm records are indicators of success or failure in every farm enterprise; it will show the state of the business. Good record-keeping has countless benefits and it is necessary for a clever farm manager to embrace the habit of keeping farm records. There are different types of farm records in agriculture, I will elucidate some farm records and how relevant they are in the success of the farming business.
8 Types of Farm Records Used in Agriculture
The following farm records are needed to monitor the costs of production and keep events within the farm for productive decisions to make the farm scalable.
#1. Farm Diary Record
A farm diary record is the type of farm record that houses the daily activities of a farm and the farmer. This farm record book is very important as it serves as a reference book to obtain past information on the farm. For example in poultry farming, where a farm manager needs to vaccinate his birds or give the birds medications at a particular period.
It is very normal for humans to forget things easily, once this farmer has a farm diary record to input the date and time for the operation. He will carry this out and it will prevent a future outbreak of any potential threat or menace on his farm.
However, it is not a farm diary record if it is not used daily. It has to serve the purpose it is intended for. As a farmer, it is imperative you keep farm records and accounts of what happens on your farm daily. This will enhance the progress of the farm.
#2. The cash book and payment receipt record book
This is one of the types of simple farm records a good farmer should take note of, A cash book, and payment receipt record is a farm record book of all financial transactions, both the income and expenditure, of the farm. With it, a farm manager can access loans, detect fraudulent practices, and know the state of the business. It is a farm accounting record book. In addition, the farm manager can make productive decisions based on the figures present in the record.
#3. Annual valuation record
This type of farm record book shows the value of stocks present on the farm from the beginning of the year to the end. It will aid decision-making to prepare the farm plan for the next production year.
It is imperative that at the end of each production year, a farmer should evaluate his or her venture to know the current state of the business. The farm’s strengths and weaknesses have to be determined; this is only possible when the farmer has an annual valuation record.
#4. Farm inventory Record
This is the farm record that shows the lists of all the items present on the farm at a particular time, examples are farm equipment, farm building, farm plots, furniture, etc.
The farm inventory record shows all the equipment and their value as well as the current state of the equipment, the record is usually taken at the beginning and end of the production year. A good farm inventory record book can assist farmers in getting a bank loan.
#5. Yield and Production Record
This is one of the essential types of farm records to be kept on a farm, it is the farm record book that shows the yield or output of the farm. For both animal and crop production; the daily or seasonal production rate is recorded in the record.
This type of farm record contains the number of eggs laid per day, the sizes of litter after the farrow, or the tonnes of the crop harvested per season. Yield and production record shows the success rate of the farm during the production year.
#6. Payroll and Labour Record
This is another cogent farm record; it shows the amount and types of labor hired or employed to work on the farm. Also present in this farm record is the rate and wages paid, this record enhances transparency on the farm.
#7. Farm input utilization record
This farm record book shows all the input acquired and utilized during the production year, it shows the relevance of a particular input in the production. It shows the level of input application and it is also used in combination with the output record to determine resource productivity.
#8. Profit and loss record
This is the principal record; it shows the economic level of the business. This farm accounting record is the only type of farm record most farmers tend to keep, however, the aforementioned records are prerequisites to this record.
This farm record book is normally prepared at the end of every production period, usually at the end of the year to determine whether the business is making a profit or otherwise.
Importance of Keeping Farm Records in Agriculture
These are the types of farm records an aspiring successful farmer must prepare and keep; they are computer-aided farm records. The importance of farm records is copious and cannot be overruled; the uses of farm records:
- Procurement of a bank loan.
- Aids productive decision-making.
- Help to detect fraudulent practices.
- It helps to know the economic status of the farm.
- It shows the strengths and weaknesses of a farm
Record keeping in agriculture is very important; it is essential for making crucial decisions regarding the progress of the farm and resource allocation. These are the different types of farm records that can be kept to monitor the progress of the farm.
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