I          REASONS FOR ACCURATE RECORD KEEPING

A.  FINANCIAL

1. Income
2. Taxes
3. Costs of business
4. Legal necessity
5. Making future business plans

B.  HISTORY AND PLANNING

1. LAND AND CROPS
   1. What crops are planted: when, where, type of and cost of seed used
   2. Treatments applied: fertilizer, pesticides, defoliant and how much, when and costs of applications
   3. Irrigation schedule: when turned on/off, well(s) performance, repairs to well(s)
   4. Harvest information: when started, order of harvest by fields and/or crops, amount harvested by field and/or crop, contract harvested, cost of harvesting, payment received for crops
2. HERDS AND FLOCKS
   1. Records of when born or bought and the tag/band number assigned
   2. Dated picture of animal or herd/flock for purpose of identity in case of theft and for insurance claim
   3. Records of medical history: shots, worming, pregnancy, impregnator, castration, etc.
   4. Records of weight, type of feed, hatch time, breeding history
   5. Record of selling: when, to whom, weight, age, price
   6. Record of death: when, age, cause, amount of potential loss from lost production (i.e. calves, milk, eggs, meat, etc.), cost to replenish stock/flock
3. EQUIPMENT
   1. Date purchased, picture, condition, and VIN
   2. Service and maintenance schedule: oil changes, tires purchased, rotation, greasing, parts replacement and costs of these items
   3. Picture of any damage for insurance claims

II          METHODS OF RECORD KEEPING

1. Log Books
2. Computer Programs
3. Combination of Both

*The above outline is given as an example of possible record keeping. Your county agent and your CPA will be able to give you the specifics you need to keep records of.

Many times in researching this topic, keep it simple was urged for the producer, accurate but simple.