BF 102: Setting up Financial Records for Farm Businesses

Trainer – Ted LeBow of Kitchen Table Consultants

Ted’s two passions are financial sustainability and growing entrepreneurs and their teams. He is driven to help entrepreneurs to understand HOW they make a profit, not how much profit they make. He has worked with hundreds of small business owners, all over the country, creating and helping them execute against their financial goals. He regularly presents seminars around cash flow, profitability and how to know if you’re profitable. Ted was the Interim Executive Director for The Pennsylvania Association of Sustainable Agriculture, a non-profit focused on promoting profitable farms that produce healthy food for all people while respecting the natural environment, has sat on multiple non-profit Boards of Directors, and has helped entrepreneurs and non-profits raise over $60 million in debt, equity, and donations.

He has lived in Bala Cynwyd, just west of Philadelphia, since 1997. In his spare time he shares a fleet of 1950’s era tractors and equipment with Philadelphia urban farms, cuts and mills his own lumber for live-edge furniture, fly fishes, builds bamboo fly rods, and participates along with his wife (as much as possible) in the lives of his three daughters (18, 22, 24).

Training objective:
Setting up an Accounting System is really important. We will go through best practices for setting up your accounting system, with an emphasis on Quickbooks, but these practices will be applicable to any system you might be using. Topics include: Separating personal and business finances and enterprise finances, setting up your chart of accounts, accounting systems to make your process more efficient and using your Profit and Loss statement to help you run your business.

We will delve into the P & L so that the attendee will be able to understand what its purpose is and for. We will be using live real-life examples of a two farms, each with annual sales of just under $200,000. One is a full season vegetable farm that has both wholesales and CSA customers and the other a multi-species livestock operation. Both examples are REAL (the names have been changed to protect their privacy).

Bonus: Following this training, attendees will be invited to request free one-on-one consulting for a limited number of hours from this trainer in 2018.

Extra Bonus from Kitchen Table Consultants: Sign up for Wholesale Quickbooks online pricing through Kitchen Table Consultant, typically 50% off the retail price. You can start new or transfer your existing account for the discount.