Basic Accounting

Basic Accounting

know your bottom line in real time

Connect your accounts

We know entering transactions takes time from other things you enjoy doing, yet it is a critical step in calculating overall farm profitability. Make this process easier by safely connecting your bank accounts to Traction. Using the same security-level standards that banks use today, we can automatically import your bank and credit card data from thousands of financial institutions. This means less farm data entry for you, saving you time. 

Connect to Bank of America, Chase, Wells Fargo, Citibank, Capital One, Farmers & Merchants, and many more.

Track Multiple Farm Entities

If you have multiple farm businesses that require their own set of books, you’ll want a farm accounting solution that can easily handle it. With Traction, you can set up an unlimited number of entities in order to separate or combine for tax reporting. This gives you the flexibility to look at your overall farm business in different ways. While many other accounting systems charge for multiple entities, we don’t.

Chart of accounts built for you

We simplify the startup by providing you a set of income and expense accounts that match the Schedule F tax form. Setting up the chart of accounts correctly from the beginning will give you the power to better understand farm profitability. As new accounts arise or changes occur, accounts can be added or edited on the fly.

Record expenses on-the-go

No reason to wait until the end of the month to catch up on your expenses. Leverage your phone or tablet for recording transactions on-the-go, while entering as much or as little information as you want. Use your device camera to take pictures of invoices and tag them to transactions. Farm accounting expense tracking has never been easier.

Drill Down for Details

Our team understand there are times you need to dig and find more detailed information about certain expenses or accounts. With Traction, you can drill down on any report and see what made up those amounts. This way you are no longer wondering how your numbers are calculated, saving you time and headaches.

"It's a perfect fit for our farm. Sharing information with our team was difficult in the past, but now it's easy. Having this info when we need it saves us headaches and time, putting us in better position with the banker."
Julie Rose
Farmer, MN

Key Basic Accounting Features

Access farm data online from any location, anytime✔
Manage an unlimited number of farm entities✔
Connect your bank and credit card accounts to synchronize your transactions✔
Use your phone to take pictures of invoices and tag them to transactions✔
Maintain your cash-based balance sheet and income statement with drill-down analysis on all reports✔
Perform standard tasks like adding accounts, transaction editing, and reconciling bank statements✔
Find any transaction using the system wide quick searchSpring 2021
Create field names and boundaries and see a map of your farmSpring 2021
View profit centers by field and/or crop when allocating cash income and expensesSpring 2021