Record keeping. Most people groan at the thought, but I love it. I love lists and notes and calendars and…well, you get it. But aside from my obsession, why is Record keeping so important on the farm? One word: Profitability.

In order for a farm to be profitable, at least to its highest potential, farmers need to know what’s being spent, what’s being made, and what assets they have. I know some farmers that never look at receipts until tax time the following year. Don’t you think a farmer could make more informed decisions throughout the year if they knew their financial situation?

There are some records that most every livestock farmer should be keeping. I’m speaking mainly to the livestock side of the farming industry, because that’s what I know.

Herd Records

Farmers need to know what livestock they have. A basic herd record could start with a list of names (or tag numbers) and age. Age is important to record, because it’s easy to forgot how long you’ve had ol’ Betsy, and when it comes time to make the decision to cull, knowing her actual age could make that decision easier.

I also recommend a “baby season” record. Whether you’re calving, kidding, or lambing (or farrowing, but I won’t go there because I’m the first to admit I know very little about pigs,) a farmer needs a record of who is having a baby when. This is important to make sure all of your breeding stock is reproducing every year. If you have one or two that weren’t bred, maybe you should cull them. If you have several that missed a breeding season, maybe you need to look at your herd sire. Did you have too high of a female to male ratio? Do you need to have the vet out to do a breeding soundness exam? Without records, you could easily lose profit.

If you want to get more detailed, weigh your babies. Record their birth weight, along with their weaning weight. This has multiple purposes. First, if you’re looking to make culling decisions, you can choose to keep your mommas that wean larger babies. Secondly, you can keep up with the growth rate of your offspring. How much weight gain are they averaging a day? If you are trying to reach a certain weight before you sell, so you can get optimum price, this information can assist you in estimating the time needed to reach the goal weight.

Inventory

What assets do you have? Can you list the value of everything you own? An updated inventory list can be a very valuable tool for a farmer. Many farmers may be “cash poor,” but yet they own many pieces of extremely expensive equipment that is sitting on very valuable land. An inventory list can be used by your tax accountant to calculate and write off depreciation costs every year. An inventory list can also be utilized if you are looking to qualify for a loan and need collateral.

An inventory is simple to maintain once you get the original document completed. Start by listing your assets by category: land, equipment, buildings, livestock. For each item list the date purchased, purchase price, and current value (if possible.)

Ready to Get Started?

Since I’m a record keeping nerd, I’ve created a few printable documents to help you get started. They are all available through my Etsy Shop. They are an instant digital download and will be emailed to you immediately after purchase. Save them to your computer, and you can edit them there. If you’re more of a notebook and pen type person, like me, print them off and update them as you go! It’s a one time purchase price, and the document is yours to use as many times as you need!