6 Best Farm Accounting Software Options for 2023

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.

While it is not specifically designed as farm software, it offers an advanced feature called class and location tracking. This allows farmers to categorize transactions based on different classes and locations within their business, making QuickBooks ideal for farmers managing diversified farms with multiple revenue streams, including crops, livestock, and a farm stand.

Additionally, 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 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.

On the downside, QuickBooks Online lacks farm-specific management features, such as crop and livestock management and pesticide application reporting. If you require such specialized farm tools, we recommend The Farmer’s Office. Also, unlike FarmBooks and EasyFarm, QuickBooks Online doesn’t allow you to separate personal and farm finances.

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 multiple farm settings. We recommend QuickBooks Desktop for farmers managing 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.

As with 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 significant differences. Read our QuickBooks Online and Desktop comparison guide to see how the two solutions differ.

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 multicompany accounting software. The QuickBooks Desktop Pro edition usually is sufficient for farmers, but those who need forecasting or advanced job costing should upgrade to QuickBooks Premier.

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.

Unfortunately, Wave doesn’t allow you to separate personal and farm funds and create and manage cost centers. This makes it unsuitable for those with diversified farm activities, such as livestock rearing and crop production. QuickBooks Desktop is a great alternative if you want to keep your farm and personal expenses separate and require detailed expense tracking through cost centers.

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.

However, EasyFarm has no fixed asset manager—and we recommend that you look into The Farmer’s Office if you need it. Also, EasyFarm is a bit more expensive, which can be an issue for small-scale farmers with limited budgets. Whether you are just starting out or are a hobby farmer, you should consider a free alternative like Wave.

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.

However, since The Farmer’s Office is primarily designed to handle farm operations, it doesn’t allow you to track personal income and expenses. For this, consider FarmBooks or EasyFarm.