Can dairy farm accounting software replace the services of a specialized CPA firm?
Wayne Cunningham, Partner with Genske, Mulder Certified Public Accountants LLP in Ontario, California specializes in dairy farm accounting. Firm services 600 dairy farms nationwide.
PR-Inside.com: 2014-09-26 13:42:44
It doesn’t matter what software you purchase, whether it’s Excel, QuickBooks or any other “off the shelf” program, there always seems to be a gap in the functionality between what the program can provide and what you really need. Dairy farm accounting software is no exception.
“Software packages have limitations, they don’t prepare tax returns, compile a real analysis of operating results, assist in structuring your loan terms, or provide industry benchmarks with which to evaluate your dairy’s performance” states Wayne Cunningham, partner at Genske, Mulder & Co., LLP.
Based in Ontario, California, with offices in Costa Mesa and Modesto, Genske, Mulder & Co. specializes in dairy farm accounting and is the number one CPA firm in the country servicing over 600 farms nationwide.
“These programs are cookie cutter, where one size is supposed to fit all. But that’s not the case when it comes to farms. Dairy farms are bigger and more complex where the personal and business situation for a farmer that milks 400 cows is totally different to that of farmer that has 4,000 head of cattle or more. An “off the shelf” dairy farm accounting program simply can’t address all these issues.”
“In fact the actual content of dairy farm accounting software programs could be out of date or obsolete before it’s even installed. Laws change all the time and if the program is not updated on a daily basis it could mean serious tax consequences, especially in a year like this when income tax planning will be very important.”
“Try calling a software program and asking “I have a letter from the IRS, what shall I do?” or “I am looking to expand, what’s the best way to accomplish this? With most software packages you would be lucky to speak to a human in tech support, let alone get tax or business advice!”
“Dairy farm accounting software packages do provide something dairy producers really need, and that is an easy way to pay their bills and take the first step of recording those payments. But farmers need so much more than that,” adds Robert Burroughs, a partner, Genske, Mulder’s Modesto area office.
Burroughs continues “Dairy farmers need help dealing with all the complex tax and accounting issues they face on a regular basis. This is the software functionality gap where a specialized dairy farm CPA firm comes in, to take the dairyman the rest of the way in managing their financial matters from dairy industry benchmarking to estate planning.”
“If dairy farm accounting software programs really were the logical, long term, cost effective solution that provided clients up to date advice on all aspects of farm management, our Dairy Farm Accounting Division at Genske, Mulder would be out of business overnight,” concludes Cunningham.
For more information on dairy farm accounting please go to www.genskemulder.com
or call 909 483 2100.