7 Best Farm Accounting Software Options for 2023
This article is part of a larger series on Accounting Software.
The best farm accounting software should be able to handle general accounting tasks, like bill tracking and invoicing, and farm-specific accounting duties, such as creating cost centers to track profit and loss by specific farm units. While some farmers may require advanced features like ag inventory and fixed asset accounting, others might only need a simple yet effective solution for tracking income and expenses and managing bills, which can be provided by a general-purpose accounting software like QuickBooks.
Here are the seven best accounting software for farmers:
- QuickBooks Online: Best overall accounting software for farmers and ranchers
- FarmBooks: Most affordable farm-specific software
- QuickBooks Desktop: Best desktop accounting software for farmers
- EasyFarm: Best for self-employed farmers
- The Farmer’s Office: Best for detailed cost accounting by farmers and ranchers
- CenterPoint Accounting for Agriculture: Best for agriculture companies with in-house accountants
- Wave: Best free accounting software for part-time and hobby farmers
Best Farm Accounting Software: Quick Comparison
Software | Pricing | Accessibility | Track Income & Expenses | Create & Send Invoices | Manage Unpaid Bills | Capture Expense Receipts | Separate Farm & Personal Funds | Set Up Cost Centers |
---|---|---|---|---|---|---|---|---|
$30 to $200 per month | Cloud | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | |
$495 (one-time fee) | Desktop | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | |
From $549.99 per year | Desktop | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | |
From $650 (one-time fee) | Desktop | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ | |
Custom quote | Desktop | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ | |
Custom quote | Desktop and cloud | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | |
$0 | Cloud | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ | |
While QuickBooks Online lacks farm-specific features, we still recommend it as the best option for most farmers because of its strong accounting features, ease of use, and vast network of QuickBooks ProAdvisors to help you. Read our step-by-step guide on how to find a QuickBooks ProAdvisor.
How To Choose Your Farm Accounting Software
When choosing farm accounting software, consider whether you need a standard bookkeeping solution or a specialized software for farmers. We rounded up some tips and best practices for choosing the right bookkeeping software for your farm business:
- Consider the price: A good feature-packed farm accounting software isn’t necessarily expensive. Before buying the software, know how much it costs upfront and whether there are limitations, such as the maximum number of farms and users you can add.
- Decide whether you want cloud or desktop software: You’ll prefer cloud-based software if most of your accounting tasks are done remotely. Cloud-based software allows you to access and work on your files from any internet-enabled device. Meanwhile, desktop software might be preferable if you live in areas with limited or no internet connectivity. It needs to be installed on the computer where you use it and doesn’t need the internet to run.
- Know which features are useful for farmers: In addition to invoicing and income and expense tracking, good farm accounting software has specialized features like the ability to track farm inventory and create cost centers to track profit and loss by a farm unit.
- Pick a software that you can use on your own: If you don’t have a bookkeeper, make sure that the software is easy to understand and use. If the provider offers a free trial, sign up for it and see if you are comfortable using the platform.
- Check out user reviews: See if you can find some unbiased reviews of your prospective software online. Unsolicited user reviews allow you to see the product in context and whether you can trust it.
QuickBooks Online: Best Overall Accounting Software for Farmers
What We Like
- Easy to share data with your accountant
- Create cost centers to track profitability
- Powerful mobile app
- Best general accounting features in the small business accounting market
Drawbacks
- Cost isn’t ideal for budget-minded farmers
- No farm management features
- Each farm requires a separate subscription
- Can’t be used to track personal income and expenses
Features
- Free set-up assistance from a live ProAdvisor
- Lets you reconcile your books and bank accounts to keep your farm records accurate
- Allows you to create customized invoices for your customers
- Enables you to track income and expenses by class and location
- Lets you create cost centers to track expenses associated with the production of agricultural products
- Includes a mobile app so that you can access your data on the go
QuickBooks Online Overview
Tip:
Are you unsure which QuickBooks Online product is best for you? Our QuickBooks Online version comparison will help you pick the best plan for your farm business.
Why We Choose QuickBooks Online
QuickBooks Online earns the top spot in our evaluation of the best farm accounting software because it is customizable to nearly any business type, making it our best accounting software for small businesses. You can customize its chart of accounts and native reports to give you the specific data you need about your farm business. As a bonus, it offers mileage tracking to claim tax deductions and a receipt capture feature for more efficient expense tracking.
As a cloud-based software, farmers get remote access to all relevant data without having to sit at a desk. It’s also easier for you to share your data with your accountant because files can be shared through the cloud.
QuickBooks provides free setup assistance with live ProAdvisors and 50% off for three months for new subscribers. Unfortunately, the free setup assistance is unavailable if you select the 30-day free trial.
FarmBooks: Most Affordable Farm-specific Software
What We Like
- Most affordable farm accounting software on our list
- Can track both personal and farm income and expenses
- Customized chart of accounts and reports
- Includes real-time inventory for crops and livestock
- Includes free do-it-yourself (DIY) payroll processing
Drawbacks
- Each farm requires an additional fee
- Cannot connect bank accounts
- Unique codes can be difficult to master
- No mobile application
- Difficult to share books with an accountant or tax pro
Features
- Uses unique codes to record transactions
- Lets you pay hourly and salaried employees
- Comes with a specially designed chart of accounts and customized reports for farmers
- Classifies transactions using unique account codes
- Lets you manage and track fixed assets
- Includes an allocation feature to help you better manage your assets
FarmBooks Overview
Why We Choose FarmBooks
For a one-time payment of $495, you get all the must-have features you need to manage both farm and nonfarm transactions. Despite its low price tag, it doesn’t fall short of the functions we look for in farm accounting software.
For instance, it includes real-time inventory for crops and livestock and tracks both farm and personal income and expenses. Its main drawback is that each farm requires an additional fee, so it might not be the best choice for those with multiple farms.
Another reason we love FarmBooks is its robust reporting feature. It offers nearly 20 farm-specific reports that you can access easily and can help you determine how your farm business is performing. Your Schedule F (Form 1040) is also included in these reports, making tax time a breeze.
QuickBooks Desktop: Best Desktop Accounting Software for Farmers & Ranchers
What We Like
- Can manage an unlimited number of farms
- Large network of QuickBooks ProAdvisors
- Can be customized to your farm requirements
- Ability to assign income and expenses to cost centers or enterprises
Drawbacks
- Can’t track personal income and expenses
- No farm-specific inventory management features
- No fixed asset accounting
- No mobile application
Features
- Lets you manage and track unpaid bills
- Enables you to create and send invoices
- Allows you to set up cost centers to track farm-related expenses
- Lets you set up a bank feed to make bank account reciliation easy
- Tracks sales taxes for agricultural producers that sell directly to consumers
QuickBooks Desktop Overview
Why We Choose QuickBooks Desktop
Just like QuickBooks Online, QuickBooks Desktop isn’t farm-specific software per se, but it’s customizable to your farm needs. As a locally-installed software, it’s best for those who have limited internet access or want the speed of a desktop program. It has most of the features of the cloud version, but there are also important differences between QuickBooks Online and Desktop.
QuickBooks Desktop provides the tools you need to track farm profitability, such as the ability to assign income and expenses to specific cost centers or enterprises. With this feature, you can track where, and how your money is spent, such as seeds, fertilizers, labor, machinery repairs, and maintenance. This helps you better understand which of your crops or livestock are most profitable.
Another great feature of QuickBooks Desktop is the ability to keep the books of multiple businesses for no additional cost, making it our best multi-company accounting software. The QuickBooks Desktop Pro edition is usually sufficient for farmers, but those needing forecasting or advanced job costing should upgrade to QuickBooks Premier.
EasyFarm: Best for Self-employed Farmers
What We Like
- Includes farm-specific management features
- Supports crop and livestock management
- Unique input screens make data entry easier for nonbookkeepers
- Can manage both farm and personal funds
Drawbacks
- A bit expensive compared to similar programs
- Needs the advanced accounts receivable (A/R) add-on to send invoices
- Cannot connect to bank accounts
- Doesn’t include fixed-asset accounting
Features
- Uses a “single-entry input” approach to record transactions
- Lets you create cost centers to track profitability by important elements, such as fields and herds
- Includes a customized chart of accounts for the agricultural industry
- Allows you to enter crop and field records anytime and anywhere using the EasyFarmHand mobile app
- Lets you track both the quantity and weight of your inventory
- Enables you to export your data easily to Excel or FINPACK for detailed analysis
EasyFarm Overview
Why We Choose EasyFarm
EasyFarm is a unique software that we believe farmers will find easier to use than standard bookkeeping software. It has a unique user interface that uses farm-specific jargon and preset calculation and reports, making it a great option for unincorporated farmers.
It also has integrated farm management and accounting features, which allow farmers and ranch managers to handle bookkeeping and crop and livestock management tasks. Many self-employed farmers also use EasyFarm to report their farm income and expenses on Form 1040, Schedule F.
The Farmer’s Office: Best for Detailed Cost Accounting for Farmers & Ranchers
What We Like
- Detailed cost accounting to track profitability
- Includes an A/R module for sending and tracking invoices
- Tracks income and expenses by cost centers
- Includes chemical inventory management and a pesticide application reporting system
- Includes payroll for agriculture
Drawbacks
- Can’t be used to track personal income and expenses
- No upfront pricing
- Requires bookkeeping knowledge
- Can’t import bank account transactions
- Lacks a mobile accounting app
Features
- Comes with an enhanced cost accounting module to track farm-related costs
- Lets you track expenses and apply for loans using the budgeting module
- Allows you to track pesticide-related activities
- Enables you to manage and track Ag inventory and fixed assets
- Has customized payroll features for employees with wages reported on Form 943.
The Farmer’s Office Overview
Why We Choose The Farmer’s Office
The Farmer’s Office by Datatech has enhanced cost accounting features that give you deeper insights into your income, expenses, and yields. For instance, you can group expenses by crop year, set up equipment cost centers, and track a different commodity for each crop year, which is helpful if you have open-ground fields.
It even includes chemical inventory and pesticide application reporting systems, which help farmers avoid the overapplication of pesticides and chemicals. Farm managers can also use the customized payroll features to manage their farm employees’ salaries and deductions better.
CenterPoint Accounting for Agriculture: Best for Ag Companies With In-house Accountants
What We Like
- Desktop-based, but can be run in the cloud if needed
- Can track personal income and expenses
- Includes farm-specific inventory management features
- Includes fixed asset accounting
- Comes with a ratio analysis module
Drawbacks
- Can’t set up recurring invoices
- Requires bookkeeping experience
- Must pay an additional fee to use the advanced A/R add-on
- No mobile accounting app
- Difficult to provide access to your accountant
Features
- Tracks profit and loss on an actual cost rather than an accrual basis
- Lets you manage and keep track of your inventory cost and quantity
- Create cost centers for a more detailed farm production reporting
- Has a fixed asset management feature to track agricultural fixed assets
- Integrates with CenterPoint Payroll to help you manage payroll transactions
- Lets you create farm-specific reports, like crop statements and crop comparison
CenterPoint Accounting Overview
Why We Choose CenterPoint Accounting
CenterPoint Accounting for Agriculture by Red Wing Software is our top pick for farm companies with in-house bookkeepers because it has a very comprehensive set of farm-specific accounting features. These include the ability to track fixed assets, manage farm inventory, track personal income and expenses, and build cost centers or enterprises for detailed income and expense tracking. If you have many employees, you can use the CenterPoint Payroll add-on module to process paychecks and e-file taxes, including 941 or 943 forms.
Wave: Best Free Accounting Software for Part-time or Hobby Farmers
What We Like
- Free software
- Can add an unlimited number of users and farms
- Offers advanced invoicing features, like recurring invoices
- Excellent receipt scanner with optical character recognition (OCR) capabilities and unlimited cloud storage for receipts)
Drawbacks
- No farm-specific features
- Bank reconciliation doesn’t work with a timing difference
- Cannot use classes to separate income and expenses by activity within the same set of books
Features
- Easy to use and has a shallow learning curve
- Lets you track basic income and expenses for free
- Allows you to create and send branded invoices
- Enables you to add sales taxes to transactions and have the rates automatically calculated
- Generates important reports, like profit and loss statements, cash flow statements, and expenses by vendor
Wave Overview
Why We Choose Wave
Farmers who can’t afford paid farm accounting software should try Wave. Its accounting and invoicing features are completely free, and you only pay if you process payments and payroll. Wave even imports your bank transactions so that you can classify them easily. Despite being free, it offers some advanced features that you’ll often find in premium software, such as the ability to send branded invoices and set up automated reminders to alert your clients of overdue payments.
How We Evaluated Farm Accounting Software
Using an internal scoring rubric, we examined our seven best farm accounting software programs based on their affordability, ease of use, available support, and ability to manage general accounting and farm-accounting tasks. Our evaluation boils down to five categories, as explained below.
20% of Overall Score
Each application is evaluated based on its upfront cost and the number of users included. Software providers that don’t disclose pricing information received the lowest scores.
20% of Overall Score
General accounting features like bill tracking, invoicing, and bank account reconciliation are essential to farm operations.
20% of Overall Score
The main farm features we like to see include the ability to track personal income and expenses, track and manage fixed assets, create cost centers or enterprises, and manage farm inventory.
20% of Overall Score
Most farmers have no bookkeeping experience, so the best farm accounting software should be easy to use and provide reliable customer service for first-time users.
20% of Overall Score
Our experts conducted a subjective evaluation of each software program across several factors, such as ease of use, features, and popularity.
FAQs
How is farm accounting software different from a general accounting system?
In addition to general bookkeeping features, farm accounting software have special features, such as the ability to track inventory depending on the type of crop you’re selling, manage livestock, and create cost centers for tracking farm-related expenses.
Can I use general accounting software to manage my farm?
Yes, as long as you only require general accounting features. As an example, you can use QuickBooks to track unpaid bills, send invoices, track expenses, and reconcile bank accounts.
Do I need bookkeeping experience to use farm accounting software?
No, as some software have a user-friendly interface that’s easy to learn and navigate. For instance, EasyFarm uses farm-specific language and preset calculations and reports, making it easy to use even for farmers with no accounting background.
Bottom Line
The best farm accounting software depends on your budget and farm business needs. For instance, if you need locally installed accounting software with powerful accounting features, choose QuickBooks Desktop. If you’re working with a remote bookkeeper, you might prefer QuickBooks Online. If you’re looking for features specific to farm management, like the ability to track farm inventory items, CenterPoint Accounting for Agriculture or The Farmer’s Office may be a good choice.