By Stephanie Elsen

Thousands of Red Wing Software customers understand the benefits of using software specific to agriculture in managing their farm, rather than using a basic program. Because of their wide-appeal, basic, mass-marketed accounting systems get a lot of press and have a massive number of users. These products are top-of-mind for many people in search of accounting software. Many people ask us to compare CenterPoint against those products. Red Wing Software's farm accounting software, CenterPoint Accounting for Agriculture, includes the basics you need such as writing checks, entering payables and receivables, and managing your general ledger. CenterPoint offers specific features for farms to help see their true potential. Here are some of the main differences between CenterPoint Accounting for Agriculture and basic accounting programs. To summarize the reason: many CenterPoint users come from basic programs and are seeking specific features that can help them manage their farm better.

• Book, Market, and Tax Asset Value Tracking:

  Know the true value of your assets for whatever purpose you choose.

• Budget and Forecasting:

  Gain the ability to create “what if” scenarios for your farm, and you’ll be able to project future sales, cash flow, income statements, and assets and liabilities. You’ll then be able to more accurately plan for future business strategies!

• Financial Analysis:

  Owners and managers can get in-depth financial analysis with unlimited ability to structure and segment entire operations, profit centers, accounts, and inventories to track data, combine entities, and receive the most relevant farm reporting available today.

• Information Tracking for Farms, Fields, Landlords, etc.:

  Always have access to information at your fingertips about your farm, land, etc. for yourself and your managers, landlords, bankers, and more.

• Multiple Quantity Inventory Tracking:

  While basic programs often don’t allow for any inventory tracking, CenterPoint for Agriculture allows for inventory tracking in multiple quantities, so you can keep better track of your items no matter how you buy or sell them.

• Multiple Tax Entities:

  Allows you to track multiple tax entities in one database for keeping financial data separate, yet still perform combined business analysis when necessary.

• Production Analysis:

  Provides detailed crop and livestock information on a cost per unit basis.

• Ratio Analysis:

  Calculates ratios for your farming operation and shows trends, so you can address issues and become more profitable.

• Transaction Distribution to Multiple Accounts:

  Easily distribute complex transactions across multiple accounts and production units, for an accurate financial picture.

Expand Limited to Unlimited.

Some programs limit the amount of data you can have in your system. When you reach these limits, which you were likely unaware of at the start, you will need to move on to something new. Here are some of the ways CenterPoint compares to typical basic systems when it comes to limits:

Beef Up Security.

One person might start out running the whole accounting system, but eventually tasks will be divided up. At that point, you will likely want to limit what employees can do and see in the accounting system, based on their job. CenterPoint has menu level security, so users can see only the screens they are given access to within the system.

Not all programs are created equal. Any accounting system has its positive and negative points. Just because something is used and known by the masses does not mean it’s the best product available. Basic programs do a great job for many farms, for many years. But when your farm starts to outgrow its accounting software feature set, it might just be time to contact Red Wing Software. 800-732-9464, info@redwingsoftware.com.