Lincoln, Neb. — The difference between a good farmer and a great manager often comes down to knowing the true financial position of a farm. Good records make it possible to track an operation’s true financial position. Inaccurate records can lead to misguided management decisions.

Nebraska Extension’s “Good Farmer to Great Manager” record-keeping classes will teach farmers and ranchers to keep accurate records for their operations. The two-part class will be held in York on Jan. 23, 1-5 p.m., and Jan. 24, 8 a.m.-noon, at the York County Fairgrounds 4-H Building, 2400 N. Nebraska Ave.

Keeping good records is less about using a certain software and more about gathering and organizing information, according to Tina Barrett, course instructor and executive director of Nebraska Farm Business Inc.

“In this class, you will learn about what information you should have easily available as part of your farm or ranch records. When you have good records, everything from tax preparation, annual loan renewals, and financial analysis become much easier,” she said. “More importantly, it will allow you to make financial management decisions that improve your business.”

Topics Include:

  • What are Good Records?
  • Getting Good Tax Records
  • Moving to Management Records
  • Financial Statements & Ratios

The course fee is $50 per person and class size is limited to 25 people. Register online at https://wia.unl.edu/GFGM.

This course hosted by Nebraska Extension and is inspired by Annie's Project. Annie's Project is supported by Farm Credit Services of America in Nebraska.

This article originally appeared on IANRnews.unl.edu:

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