Farmers prefer to spend their time in the tractor or barn… and less time to develop financial statements. Because of this, many farmers and ranchers struggle when preparing financial records for their businesses. Here are two questions we often hear from farmers...
Gathering as much detailed information on the FINPACK balance sheet aids in data transfer throughout the FINPACK software. Annual capital asset transactions are no different. Entering capital asset purchase and sales information on the balance sheet allows for...
A common question the FINPACK team receives is, “What is the best way to enter credit card balances on the balance sheet?” Like many things in the financial world, it depends on the customer’s situation. Walking through the different scenarios will help...
It is hard to believe 2019 is coming to a close and the 2020 renewal season is just around the corner. As you prepare for loan renewals at your lending institution, consider these FINPACK tools to help make the process smoother and more streamlined for you and...
After adjusting for inflation, Minnesota farms earned the lowest median farm income in the past 23 years of data tracked by University of Minnesota Extension and Agricultural Centers of Excellence within Minnesota State. In 2018, the reported median net income was...
