Download Farm and Agriculture business profit and loss statement template in Microsoft Excel and Spreadsheet. Use this simple to use business P&L Statement template to capture financial performance of your farming business.
Income sources in Farming Business
If we talk about income in a farming business, there can be following types of incomes –
- Sales of livestock bought for resale
- Sales of market livestock, crops, etc.
- Cooperative distributions paid
- Agricultural program payments
- Crop insurance proceeds
- Custom hire income
- Other income
- Sales of breeding livestock
- Withdrawals from hedging accounts
Similarly, there can be some adjustments to the incomes highlighted above, for example –
- Hedging accounts balance
- Crops held for sale or feed
- Market livestock
- Accounts receivable
- Other current assets
- Unpaid cooperative distributions
- Breeding livestock
Expenses in a Farming Business
Now let us take a macro level observation on the expenditure that can incur while running a farming business. There are various possibilities that the expenditure can be optimized with use of technologies, but still, in a generic view – Following are the types of expenditure that you might incur in a farming business –
- Car, truck expenses and Chemicals
- Conservation expenses
- Custom hire expenditure
- Employee benefits
- Feed purchased and Fertilizer, lime
- Freight, trucking, Gasoline, fuel, oil
- Labor hired
- Pension, profit-share plans
- Rent, lease payments
- Repairs, maintenance
- Seeds, plants and their Storage, warehousing
- Supplies purchased
- Taxes (farm)
- Vet. fees, medicine, breeding
- Other expenses
- Livestock purchased
- Deposits to hedging accounts
This template in Excel and Spreadsheet format tries to address all the incomes and expenditure in farming business highlighted above.
About Profit and Loss Statement
An income statement or profit and loss account is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It indicates how the revenues are transformed into the net income or net profit. (Source : Wikipedia)
Download and use Farm Profit and Loss Statement Template
- Firstly, You should have Microsoft Office/ Microsoft Excel installed in your system.
- After installing Excel or Spreadsheet, download the zip file of this template, extract the template using WinRAR or 7Zip decompressing software.
- Once extracted, you can open the file using Excel and start entering data or customizing the format.