Livestock Wala'au

S3 Ep. 1 Financial Record Keeping: Tips on How to Keep Track of it All!

April 28, 2023 Melelani Oshiro & Shannon Sand Season 3 Episode 1
Livestock Wala'au
S3 Ep. 1 Financial Record Keeping: Tips on How to Keep Track of it All!
Show Notes Transcript Chapter Markers

Aloha and thank you for tuning in for another episode of Livestock Walaʻau! In this episode, we will be talking with our very own Shannon Sand! She will discuss tips on keeping track of your livestock's financial records and how to use your financial information to make important decisions. As well as, a brief overview of some enterprise budgets, cash flow, and some additional resources you can use! Check out the YouTube version on our LEG YouTube Channel! 

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Guest Contact Information & Resources

  • Shannon Sand: srsand@hawaii.edu  

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Shannon Sand:

Aloha Today's episode is brought to you by the Western extension Risk Management Education Center, USDA NIFA, the University of Hawaii College of Tropical ag and human resources, the livestock extension group, and the University of Nebraska Lincoln Center for Ag profitability.

Melelani Oshiro:

Aloha welcome to the livestock Walaʻau a podcast aimed to provide educational support information, guidance and outreach to our livestock stakeholders in Hawaii.

Unknown:

We are your host Melilla, Cheryl and Shannon say, today we are going to be talking with Shannon about financial record keeping. Yeah, this shouldn't be exciting. Very important. Not all of us want to talk about it. But it's something that you need to think about.

Shannon Sand:

Yeah, absolutely. It is definitely an important. Important.

Melelani Oshiro:

For those of you that are just listening, just a quick heads up, we do have a YouTube version of this episode, which may be useful for you to reference later because we are going to share some slides or Shannon will be sharing some slides. Yes. And other information that way. So do check it out on the YouTube. So I would tell Shannon to give us a little bit of background on her only because she's moved into a different position at a different university. She's still with extension. Yes, but maybe she wants to give us a little bit update of where she is. She's cold right now.

Shannon Sand:

cold now. Yeah. Not too bad. We're headed into spring though. So it's okay. It only snowed on me. More than I wanted to know, I am currently an extension educator with the Center for Ag profitability out of the University of Nebraska Lincoln. So the Center for Ag profitability is a fairly new center. It started I want to say two or three years ago, maybe even less than that, but I think it's at least two years old. And basically, it's designed for producers throughout the United States to educate and bring information related to how to be profitable, sounds stupid, but basically things related to profitability. So like land lease stuff. There's a ABC budget calculator that you can use online and input your own information. We're currently working on creating a livestock version of that which was part of my hire so as to do a lot of livestock. Econ, which is actually my position prior to Hawaii, I did a lot of livestock econ, which is also why, you know, and I'm passionate about it, because my family comes from like a cow calf operation. So you know, farm and ranch, but so it's, it's been really good. Like it's been a little colder, they've had a few freezing in the process. But overall, it's been good. There's no snow right now. And that's the important thing. So I'm just excited. But it's been really good. I've gotten to go to a couple of really neat bull sales around here and meet some of the other producers and stuff. So I'm really excited about that. And yeah, like it's been really good so far. Okay, so I'm going to be talking about financial record keeping today. So again, I'm gonna do my best to describe the slides as we go and mele. And this is just going to be a conversation and discussion. But there are slides that go with this, if you're looking for additional information as well as links and stuff, which will be in the show notes, as well as in the YouTube notes, description, description bar, that's what I'm looking for. So are we're going to just discuss a few things, this is just going to be a very brief overview. Generally, when I do financial record keeping, if it's about a specific topic, it can be an hour to three hours long, and sometimes it's multiple sections. But since it's just us tonight visiting, we're just going to do a brief overview of some really simple things like enterprise budgets, cash flows, and then how to use that information to make decisions which, at the end of the day, let's face it is what we all really want to know. Right. Right. So and then some additional resources. So I always try and leave people with some resources that they can go to well hopefully go to and that they find useful. So what are some of the purposes of financial records? It's coming up due this month? Taxes, right. I know sorry. I hope your eligibility for government programs. So depending on the government program, sometimes you need records. And that's it's really handy, you know, when to value assets. So if we're at that point in life, where we're looking at transitioning our operation over to the next Generation be that children or neighbors or someone else in your life, nieces, nephews, whoever, sometimes that's very helpful because I know what the state and transition planning a lot of times you don't you want to, you know, charge appropriately for your assets. So, and then again, it says the decision making tools, so looking at your information and recognizing different decisions that, you know, hopefully you can take a little bit of the emotion out of it, because we are also attached to our operations and stuff. So sometimes you make emotional decisions, rather than decisions based on numbers, or we make them based on feelings, rather than facts, which I hate that saying I'm not even. But it is also true, this does help you kind of again, just take a little bit of the emotion out of it and look at it from a very practical and business standpoint. Again, so I am currently looking at a different slide that says purpose of financial records. One of those is for the Internal Revenue Service. So it is a summary of business transaction, and then documentation to support your transactions and the documentation regarding assets. So if you're doing IRS, or financial tax reporting is what I will call it or tax recording. It can be very different than your actual record keeping it you will have pieces that go into the IRS, but sometimes you might have more. So your Schedule F which is what you turn in, well, what you already turned in, because it was due was it the end of February, beginning of March this year that was due I forget. But this is an example of the farmers tax guide. And I always have to give the caveat even though it says farmers tax guide. I know a lot of y'all are ranchers or herders, or poultry people, but it's not my fault. The US government calls everybody a farmer, even if you have a nursery operation, or landscaping or turf grass, things like that. It's all under the farmers guide. So but they are very specific about their required terms of what they need and what they require. And I have done a little bit of talk about that before with go farm. So if you contact them, I believe they have that webinar available. So there are also other entities that you want to keep financial records for and other reasons such as cash flows, which I really love, I love a good cash flow. It helps me know when money's coming in, and when money's going out. And when I need to make sure I'm saving it for the future. If that's needed. I like to do a month to month cash flow. I'm not even gonna lie. Some people do quarterly. Some people do annual, but it's whatever works for you. But I'm a big fan of month to month. So you know, when is insurance do? When do you need to buy, you know, feed? Or when are you selling off your animals or whatever you're doing? So debt to equity ratios are always really good. So how much do I own versus how much do I owe? I always think that's a good one. And then again, asset valuation. So depending on where you are in your business cycle, you know, all of that stuff's important. So all right, some ways to keep track of financial records. There are quite a few, right? It's you can do something that is I know, you're a little like, oh my goodness right now, aren't you? So mele is looking at a screenshot right now of QuickBooks. So QuickBooks looks much more complicated than it is it looks like a scary spider web of finance, doesn't it? Yeah, pretty much. If not, I promise. But it is a much more designed for someone who has, I always say in general, if you have a larger operation, or you think you're going to be larger, QuickBooks is a good one to go with. If you have employees or think you're going to, again, always a good one to go with, because you have options for payroll and taxes and stuff, which you do have some of that with Quicken. But that is we're not going that deep into this. But I really enjoy QuickBooks a lot. I've been certified in it in the past, I've taught it. I enjoy it. And I specifically have taught it for AG. So it is a good one. It is more complicated than some other systems that are out there. But it's out there.

Melelani Oshiro:

Well, is that something that you can grow with? Right? Like I would say like if you start small, it's probably something that if you're expecting to expand, it's a it's one that you can grow with. Right?

Shannon Sand:

Absolutely. And the other thing is, I'm just going to tell you, I feel like it's like any project you do in life. Getting started is half the battle. But once you have your Chart of Account Setup, it's really easy. And you can even do a mobile options. So you can just scan your receipts and decide where they go. But the nice thing is QuickBooks does have an ag one now obviously it's very generic. So it's more designed for where I'm at than where y'all are. But even then, they don't have everything right. So I have a lot of producers here that do both Animal and pasture rotations. So they have cover crops, they have everything of everything here, basically. So it's, it's really interesting. But yeah, and it's obviously not necessarily designed for most in Hawaii. But it is very easy to make those charts of accounts and to make it set up and look like your business and reflect your business. And like I said, the nice thing is, once it's done, you just be boop bop up to like that robots. And then you can just input as you go on your cell phone. And most places have a decent enough signal that you can do that, or again, you can wait till you're in town and do it because I know, everywhere has signals. So this is Quicken. So quicken and QuickBooks are both made by the same company. I, I teach both, but I'm not employed by either. I don't advocate either one. But like, this is just so you have some options available. Quicken is more like a checkbook. So like the old school checkbook register, I keep an electronic checkbook on my phone just so I keep track of my bills and spending. So this is a good one for small family operations. So not necessarily if you have a lot of like if you have employees again, I go QuickBooks just to be honest, because they have payroll options. Now, there's a lot of payroll options on there. But yeah, and timekeeping as well. Versus Quicken is really nice. Again, if you're a smaller operation, and you don't necessarily plan to expand too terribly much in the future. But you need to be able to keep track of your spending. And you can also keep track of your family spending. So it is a really nice one. And I know some people that have both again, they'll have the family and the quicken the other one in the QuickBooks. So you do have you have options, right? They both do like budgeting and then you have future options like to look at like potential, like budgets into the future, what your budget is, based on your history is potentially going to look like so it's really, really nice. Obviously, it doesn't take into account like price changes. But you know, I think a lot of us have a general idea when prices are going to change. Right? Have a general idea. This is a third option, which is really simple. So it is just an Excel sheet. And I believe I include links at the end of this presentation. But you can also print this off and do it by hand. And I don't think there's anything wrong with keeping track of it as long as you're keeping track of it. Again, even if it's by hand, I was like that is the way my dad has done it for a very long time is on pencil and paper and my mom and puts it into the computer for us.

Melelani Oshiro:

I think a lot of people would probably record a record kept is better anywhere than not having a record at all right? So

Shannon Sand:

yeah, and that brings us to the last one. I always say even if it's in a pizza box, at least make sure you've got that information somewhere. This is a shoebox with receipts in it, but it needs to be somewhere. And that's the really important thing at the end of the day, I think is that have those receipts have them available. So that you are if you have a professional accountant, or like a tax preparer or whatever, have the that information and make sure you're keeping it for at least seven years. I believe it's a seven year look back right now. But it could be shorter, it could be longer, they like to change those every year. So but I mean, all that stuff is really good. And it can be used to again, you can use all this stuff to help you make decisions like quick, QuickBooks is really great because it has some super powerful tools, you can pull reports, you can pull your income statement, your balance sheets, your cash flows, your projected cash flows. And the nice thing is you can look at it and say, okay, like we're not getting, I know people that will do it down to the field they're on. And so they can look at and be like this field is not producing as much this year as this field, in terms of the weights of our cattle, or whatever that like they're like maybe we need to look at and see what's going on here. Or maybe we need to let it like lie fallow for a year or whatever. So there's a lot of you take a lot out of the information you get from this. So this is a simple one that is a Google doc spreadsheet that is open to the public. So please make your own copy. Don't don't play it. It is my personal request. But it is just a basic financial record that if you want it is free, it is open source. I've made that available. It's in the Google doc linked above as well as in the the end and I think we're gonna put it in the show notes. I'm guessing right? Yeah. Okay. But it's very simple. It's just similar to a checkbook. So it's got your starting balance, your date, your description, your expense, your income, and then the account balance. And it should automatically if I did everything right, and it's still okay. It should total up but I've used it for the last couple of years and it's been a very good tool. And so, I've kind of already talked a little bit about Quicken. Again, you can get it on your computer or remotely, it's a great one for small operations. If you don't have a lot of people you're paying labor to. It's an excellent one, you can use it to, as you can see here, if you're watching the video, look at different spending categories. And again, you can separate out the business from the household, or you can combine it, it's your choice. But the nice thing is, you could have a lovely little pie that shows you all the different things and how your spending has been affected over time. Again, QuickBooks looks kind of like the what I like to think of as the scary spiderweb of accounting, but it's really not once you get off your chart of accounts setup, you can accept credit card payments with this bad boy, you can create invoices, this thing is really, really powerful.

Melelani Oshiro:

I mean, I just want to say like just looking at this screen like that, when you first put it up there, I was like, Oh, that's a lot of arrows. That's a lot of actually looking at it, it really makes sense. It makes paint and, and it really shows you like what your what you want to do. I mean, if you want to do something, you look for it, you figure out your way back or forward on it. So pretty. I mean, it doesn't look as scary as I thought.

Shannon Sand:

No, but it's just a lot more fun. If I call call it the scary spider web of fine. Yeah.

Melelani Oshiro:

But it is it is it's far away. But it's nice to see how everything's connected, right where it's going. It

Shannon Sand:

is it is. So like I said, once you get those chart of account set up, because that is, I really do think that again, starting with getting started is half the battle. But once you get this chart of accounts set up, you're like, Okay, this goes in my schedule, if this goes in my schedule F, schedule, G schedule, whatever. Like if you have multiple businesses, this is the way to go. Because you can separate all you can make multiple businesses in this. And it has so many, it has so many different categories. It has an Add category, which like I said, it has very basic generic stuff. But you can go in and create your own specifically for yourself. So if you are doing silvopasture, so you're doing forestry, and you're doing cattle or livestock, you can go in and create specific charts of accounts that go for what your operation is, or again, you know, a lot of people will have, especially in Hawaii, a lot of people will have multiple operations. I feel like you know mele, yeah, a lot of people have more than one business. And this is a good one, because you can create those separate business entities and go pull them up. And you can kind of take a look at the end of the year and be like, is this one making any money is this one making any money is this one or you know, even within that. So if you have 30 acres, and you have, I don't know, like five different, let's say orchard crops, right, or fruit trees, that you can go in there. I mean, you can be fair, you don't have to be this particular do want to stress that. But you can be very particular and look, and like see which one is most profitable. So you can make estimates, you know, so it is very powerful. It is really, really cool. So, yeah, but enterprise budgets, enterprise budgets. So what's in it? What is it? I really like enterprise budgets, because it enables you to take just kind of a chunk of your business. Or if you're thinking of adding something to the business, it's a great way to look and see how does that slot in potentially to your operation? So what are some things that are in it costs returns? And then historical if you've got it, or you can find it? And then why is it important? Like I said, if you're looking at slotting a business in, it's really helpful to see, is this a potential good fit for my operation? Will it slot in? Well, you know, yeah, what?

Melelani Oshiro:

What exactly is an enterprise budget? How is that going to different from

Shannon Sand:

an enterprise budget is a partial budget. So when you think of your whole operation, it's actually a lot of pieces. So, you know, for cattle, you have grazing, you have feed, you have mineral supplementation, you have a lot of different pieces, but say you were adding a hunting aspect to it, right. So it would be like looking at adding that, you know, what I'm doing with making this motion, but it's like, you know, it's looking at the separate pieces, like the Okay, yeah, of the operation. So like if you have cow calf, and then you have a finished like a grass finished beef. Those are technically two separate operations. Right. So again, yeah, I really like enterprise budgets. I did one for a mobile processing unit several years ago. Now this is not updated in any way. I'm giving myself the caveat of this. But this one I did and we wanted to look at okay, so how much revenue per animal? What is the contribution margin margin based on how many hogs they thought they were going to go through in a month and then I wanted to look at okay, so, what is the break even point how many animals have to be processed in order for us to pay for this operation, you know, for this processing unit? And then based on what is the break even point dollars, and then if we do process that many a month How many months before we pay this off, or were broken breakeven. So that's my again, those are my preferences. I like breakeven analysis. So I include a lot of that. But again, this is looking at like adding, adding a mobile processing unit to it. So um, this is an enterprise budget for blueberries. I pulled this from somewhere in the northeast, I believe it was Michigan. So this is what they had for their enterprise budget. I know some folks have pulled this to use for other berries and stuff. But it's a good one, you'll have links to this are all in this presentation. So it is out there it is available, but they have everything that includes like production capacity, operating inputs, I had to spread this on to two different PowerPoint slides, because it was so huge cash rent, other expenses, annual operating capital. And again, it's different for every enterprise budget that you do. Fixed costs, things like that. So I like enterprise budgets. I'm a big fan of enterprise and partial budgets, like I said, Because enterprise, you look at the whole enterprise partial, you just slotting that piece in. So I hope that made sense, huh? Your face says maybe not. No, no, no, I get what you're talking about. Yeah. Yeah. So I just wanted to be specific. I didn't do that in the beginning. But enterprise budgets is the whole thing. The whole thing. Yeah. And, and personal budgets are just pieces of cotton. They're not the same thing. I'm so sorry. Cash Flows are a fun one. I really like cash flows, because it just tells me if I'm making money, to be honest, but it's also, I also think it's useful because you know, when your bills are due, and a lot of times as producers, we don't necessarily get paid when the bills are due for the animals or for the products we're using for the animals or the vet bills or the medicine or whatever, you know, all the upkeep and stuff. So I really like cash flows, because I just think they're really handy. So what is in them, you might ask cash inflows and cash outflows, which sounds a lot easy, which sounds a lot easier than it is at times. But it is pretty simple. You just kind of have to think about what what your inflows and outflows are and when they are. So why is it important? Again, I like knowing when my money's coming in and when my money is going out. And oftentimes those two do not necessarily align in the same timeframe. Yeah. But yeah. So here's an example of a cash flow for a nursery. So you can see it's a monthly one. So we have a projected for January through December. So it's got things like seedling sales, potted palms, potted Anthuriums, sales of other market items, slash products. I think we have links to this at the end too. And then any custom work or ag program payments and cash that were received. And then the cash inflows from capital asset sales, again, new varietals created machinery and equipment, any sort of real estate buildings. Now a lot of these are not filled in if you're watching the YouTube video. And if you're listening to this auditorially is that the right word? Yeah. If you're listening, listening to this on the podcast itself, and just audio format, only machinery and equipment is filled in for this, but it does have additional options. So it is nice. And then cash inflows from non farm service sources. Do we have all farm wages? Included in this we have interest in dividends, which doesn't have anything in the January through December, other business and investment which we do have 500 in one month, 250 in another and then 250 500 and the 250 and 750 later down the line, and then contributed capital and other so cash outflows we have a lot of those because I always feel like when you're in the business, you feel like man, that money is going out. Sometimes it feels like faster than it's going in, you know.

Melelani Oshiro:

I guess you could consider those all your consumable stuffs, right? Sort of Yeah,

Shannon Sand:

yeah. So it's like your car in your truck expenses. It's your chemicals, custom hire work. So any machine work, things like that employee benefits, if you've had that. Hired way hired labor wages, fertilizers, freight and shipping, gas, fuel, oil, firm insurance, all that fun stuff, marketing costs, any membership fees, all of that stuff. Again, you know, when your HCC dues are due, or you're the goat Association, the Hawaii goat Association, whenever those are due, so again, sometimes when their dues doesn't always line up and your insurance again, all that stuff. Here's the nice simple cash flow. That is really It's really nice and this is broken down. I believe if I recall correctly, like every two months, this is a I want to say landscaping business, if I recall correctly. So it's got landscaping, residential, small business, large corporations, things like that for cash receipts, cash payments, it's got your variable expenses. So machinery, tools, equipment, all that fun stuff. So and then last but not least, what you're going to do is you take some of this information from your cash flows, your balance sheet, your income statements, you put it into this farm financial scorecard, I really liked this a lot. Again, I believe there are links to this in the show notes. And so you're probably looking at this, if you're watching the video, and you're like, where are the informations on how to do this. Again, those are in the links in the notes. So there's actually a long explanation that goes with this, that shows you how to calculate each of those and from which of the financial statements, you need that. So I will just say as an example, we only went through the cash flow, there are three main financial three main financial statements, when it comes to business that we generally look at, which is cashflow, balance sheet and income statement, or profit and loss statement. And so from those three, you can calculate all this. And I guarantee you, if you have enough to fill in your cash flow, you have enough to probably fill in the rest of those, it's just that it's a lot of different things from that. Balance Sheets include things like inventory. So that's always good, because we also, you know, inventory is an important thing to know. But this farm finance scorecard has like red, yellow, and green. And this was designed by the farm financial Standards Council. So they work in conjunction with places like ag credit, Farm Credit, USDA, to come up with this, there are 21 different scores, not everybody looks at all 21. Obviously, most people only look at four or five, in terms of like bank and lending and grant stuff, just kind of gives them an idea on like where your operation is. So it's a good benchmark for you to keep track of, you know, how your business is growing and changing and, and things that are going on. And just because you're in red, and one and green, and the other, it doesn't mean you're in any sort of like, bad shape at all, you know what I mean? So don't be worried if you have like a couple in the red or the yellow. As long as you know, you have a few in the green. It's kind of a balance, you know, and even then, depending on your operation, if you're at the beginning, where you're, you know, like a cow takes to 18 to 24 months. So if you're just getting started of your operation, you're going to be in the red a lot more than you're going to be at the end. So keep that in mind. That's what I say with this. But it is a good way to help kind of gauge your financial health. So but, and I have included some resources here at the end, including my email address at Hawaii. I also have one at UNL if you want to send an email there. And then we've also included a link to the Western farm and ranch stress Assistance Network, they have some grants and stuff still available. If you're interested in that one 800 Farm Aid, I really like to include that one because they also have some financial tools that I feel like not a lot of people take advantage of but they've raised a lot of money. So things like that. And then FSA in Hawaii, I was trying to include them, zone that people have access to it. And then the Hawaii egg mediation center. So and you're gonna have a ton more resources at the end of this. But yeah, so and then for those of you listening, there's an adorable little piglet saying thank you. And then I again, I have a ton of references to everything I did, provided. And those will be linked in the show notes below. So

Unknown:

Did I forget

Shannon Sand:

anything? Mele? No, I

Melelani Oshiro:

liked it all your resources, because I feel like there's a lot of resources online for like the different financial records or balance sheets and stuff that are there. But sometimes you don't know where to start or which ones are worth like getting into. So it's nice to have some references from you to be able to direct them to certain ones. Well try out too, right.

Shannon Sand:

Yeah. And for the cattle on. I'll say that I'm currently working with the Center for Ag profitability here at the University of Nebraska Lincoln to so they have an ABC calculator for like crops and stuff. But they're working. We're working on developing a livestock for one. So once that's done, you basically will just put in your own numbers and it should pump out a budget for you. Yeah. So I also want to say handy when it's completed in the next year or so. Yeah.

Melelani Oshiro:

So I also want to say that We have some other decision tools from another grant that was worked on by Dr. Dylan fetes. Yeah. Any specific would Yeah, yeah. And really has to do with retained ownership of cattle and whatnot. So if you're a producer that ships off and you're in deciding to retain or not retain ownership, those are sort of some financial, and not really record keeping, but it is a financial document that you can use. Yeah, to use to help with that. And that might even be something that you can play with, to sort of look back at, you know, potential revenues for you. Right, yeah. In your record, keeping in your friend Absolutely. Love. So. So that's another option. And

Shannon Sand:

we can include links to that at the end of this as well. Because, yeah, I mean, those are really powerful tools that Dylan came up with. And we, we should link to his because we had him a couple of times, but he just did one a couple months ago, I think.

Melelani Oshiro:

Yeah, yeah. So there is an episode about the tools, and I'll website, YouTube video and everything. So yeah, but

Shannon Sand:

we should we should link to that. Yeah. And if

Melelani Oshiro:

Yeah, we'll also be putting the beef webinars that we did our beef workshop we did. Until webinars. So now, um, he'll talk about that there. And some other decision tools. So but um, yeah, I think there's, you could go out and look, but I like Quicken it. No, I mean, I haven't messed with it. But to just be able to see like that screenshot there that you showed, and the connections between all the different tools that they have. I think he just puts it, like for me visually, that was like, oh, okay, I get it, you know, so yeah,

Shannon Sand:

you kind of have to stare at it for a second. And then you're like, oh, yeah, this kind of makes sense. Why it goes together this way.

Melelani Oshiro:

Yeah. Yeah. So yeah, thank you, Shannon, for sharing that with us. Thank you. It's such a, you know, it's so important things we don't always think about. And I always am that one that go like God, I wish I would have put this into some format that's a little bit easier at the end, right to kind of split everything out. And like I said,

Shannon Sand:

even if you just want to do your family stuff, you can do quicken and they have a mobile option. So again, if you want to do something simple, Quicken is a good option. If you're looking for something that's a little bit more of a challenge to set up. But once it's set up, you have to give those caveats. It's it's really kind of smooth sailing, because again, you can get it on your phone, and you can just kind of feel like that

Melelani Oshiro:

a lot of things are that way, right. It takes you time to set up but worth the time to set up or the time to set up.

Shannon Sand:

Yeah, later. Absolutely. Well, I hope our listeners found this informative, and that it will be useful to him. Also, if you have not already done so please be sure to fill out our feedback fast to let us know your thoughts about this podcast. That's a continuous thing. We'd like to keep rolling here so that we can you know, always get constant feedback and have information of what you want to learn about next. Yeah, yeah, make

Unknown:

sure to follow us on our social media pages, the livestock walaʻauand the livestock extension group. If you haven't already, be sure to visit the UH CTAHR Extension website and our YouTube channel listed in the show notes.

Shannon Sand:

For additional information about this topic, see the show notes of the podcast and the description box of our YouTube page. Thanks for listening to the livestock walaʻau. Before we go show some love for your favorite podcast by leaving us a review on Apple podcasts or anywhere you listen to this podcast and then stay tuned for next month.

Melelani Oshiro:

Thanks again to our sponsors the Western extension Risk Management Education Center, USDA NIFA, the livestock extension group, sitar and the University of Nebraska Lincoln Center for Ag profitability. Thanks again for listening. We hope

Purpose of Financial Records
Ways to Keep Track of Financial Records
Financial Record Template Example
Some Record Keeping Tools
Enterprise Budgets
Cash Flow
Additional Resources