As a farmer, you know that properly tracking finances across your various business lines is essential, but doing so can be a major challenge. Between crops, livestock, your on-farm market, and more, understanding where you are making and losing money requires juggling various systems for reporting and analyzing. But with the right approach to enterprise analysis, you can simplify financial management and gain better insight into your profitability.
Do you know your farm enterprises?
A farm enterprise refers to a specific line of business or profit center within your overall operation. Common enterprises include:
Crops: produce, orchards, corn, hay, etc.
Livestock: beef cattle, chickens, hogs, eggs, bees, etc.
Value-Added: meats, jams, pies, maple syrup, wool, candles, etc.
Agritourism: corn mazes, farm stays, classes, education programs, etc.
You likely have many diverse enterprises within your farm that need to be managed and optimized individually.
How can enterprise analysis help you?
Implementing enterprise analysis empowers smarter decision making in a few ways:
Understand True Profitability: With enterprise-level data, you can accurately evaluate the profitability of each line of business.
Isolating Low Profitability: If your operation is under performing, enterprise analysis can help pinpoint where issues may lie.
Optimize & Grow: Focus your time and money on your most profitable enterprises.
Plan & Budget: Forecast revenue and costs for each enterprise individually to inform operational decisions.
Ambrook simplifies enterprise analysis
Enterprise analysis is built into Ambrook. Our software allows you to tag each transaction with customizable enterprise tags, enabling you to filter financial reports by enterprise. No more manual data exports and having to work to get the reports you need.
Get started with enterprise analysis.
Schedule a DemoThis content was written by the team at Ambrook. We know farm finance, but are not CPAs or financial advisors.
