28 NEBRASKA CATTLEMAN September 2025 Jay Parsons, director of the Center for Agricultural Profitability at the University of Nebraska–Lincoln (UNL), echoes that sentiment. “In any business, if you want to make good decisions, you need good information,” he says. “You can’t afford to be six months behind on recognizing a major issue. With accurate records, you can records help prove that and help you make decisions that support long-term viability.” The Risk of Doing Nothing The downside of poor recordkeeping is significant. Without financial visibility, producers risk underestimating expenses, missing signs of inefficiency or falling behind on tax obligations. “You run the risk of making decisions based on assumptions, not facts,” Russell says. “That might mean missing a chance to invest at the right time or not realizing what’s driving up your feed costs until the season is over.” Paige Wyler, head of customer success at Ambrook, has seen firsthand how the absence of good records can put operations in jeopardy. “It becomes harder to take strategic risks,” she says. “If you’re hoping to get a line of credit or expand your operation, you need to have the confidence – and the numbers – to back that up.” Even producers who are managing to stay afloat without solid records may be leaving opportunities on the table. “Financial clarity gives you power,” Wyler adds. “It allows you to grow, plan and make decisions with less guesswork.” Choosing the Right System Selecting a financial recordkeeping system isn’t a one-size-fits-all process. Experts agree that the best platform is one you’ll actually use. “The most important thing is to find a system that fits your operation and that you feel comfortable using,” Russell says. “Ease of use, customizability and the ability to categorize data in ways that matter to you – that’s what makes a system valuable.” Parsons emphasizes the importance of scalability. “Start simple. Choose a system that you can handle and grow into,” he says. “And make sure it generates the kind of reports you need, such as profit and loss, balance sheets and enterprise breakdowns.” KEEPING THE BOOKS CONTINUED FROM PAGE 26 CONTINUED ON PAGE 30 catch problems early and pivot before it’s too late.” Early detection can be the difference between profit and loss. Terrell Miller, founder and CEO of CattleMax, emphasizes that maintaining good records is crucial for demonstrating that your ranch is being operated as a legitimate business. “Some tax rules require documentation that the ranch is truly being operated for profit,” he says. “Financial aurorapharmaceuticalinc Follow us! ad022503 Aurora Pharmaceutical, Inc. ©2025 Quality You Trust. Value You Love. Scan to learn more www.aurorapharmceutical.com
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