Farmtool is a very fast, powerful, easy to use single-entry Farm, Business, and Professional accounting system. It needs to be set up once only, and may be used to keep accounting records for any number of enterprises. When adding a new enterprise classified as farm, business, or professional, a modified CRA (or CAIS or Agri-Invest/Agri-Stability) chart of accounts (with account numbers) for that type of enterprise may be installed in it. Farmtool will handle any number of income and expense categories, and an unlimited number of customers or vendors. Farmtool calculates capital cost allowance, current year claims, and closing UCC balances at the class and asset level, so you can see in an instant what UCC balance remains on any piece of equipment. Farmtool offers a great variety of reports, all of which appear first on the screen. They can then be sent to the printer, or to a file for inclusion in a spreadsheet or word processor by choosing the appropriate selection. Reports can be written to show business portion values or the amounts on file, and can be written for any period or date range of your choice. The GST/PST calculator shows the tax on all transaction amounts entered. A single key stroke or click of a button will calculate and enter the taxes. For farm accounting software, this is as good as it gets. Farm accounting won't get any easier than this, and it's yours for only $203.95 Cdn plus tax.
Some of the key features of Farmtool are listed below.
- Easy enough to use by someone without a computer or accounting background.
- Provides the information needed for Income Tax prepation.
- Provides reports that might be used in tax planning.
- Has a comprehensive CCA section to make it possible to see the UCC balance on every piece of equipment on the farm.
- Tracks GST and PST paid and received on income and purchases.
- Provides all of the numbers needed to complete the CRA GST rebate forms.