Farm Financial Record-Keeping
Using Quicken© for Windows
-- Category List --
A list of income and expense categories that can be imported into Quicken© financial record-keeping have been developed to assist with farm record keeping. The following categories closely match the income and expense categories found in the Kentucky Farm Record Book.
Download the file UKcateg.QIF and import the file into a Quicken© file using the File Operations/Import features in Quicken. To avoid mixing the Ukcateg categories with Quicken's predefined categories, make sure no category options are selected when creating a new Quicken© file. Importing these categories into an existing Quicken file will add these categories to the existing list.
Income and Expense Categories
| Category | Type | Description |
|---|---|---|
| Capital Sales | Income | Sale of Capital Items |
| Equipment | Subcatg | Machinery and Equipment |
| Livestock | Subcatg | Breeding Livestock |
| Other | Subcatg | Other Capital Items |
| Real Estate | Subcatg | Land and Buildings |
| Crop Sales | Income | Sales of farm produced crops |
| Corn | Subcatg | Sales of corn produced on farm |
| Hay | Subcatg | Sales of hay produced on farm |
| Other | Subcatg | Sales of other crops produced on farm |
| Soybeans | Subcatg | Sales of soybeans produced on farm |
| Tobacco | Subcatg | Sales of tobacco produced on farm |
| Wheat | Subcatg | Sales of wheat produced on farm |
| Livestock Products | Income | Sale of Livestock Products |
| Eggs | Subcatg | Egg sales |
| Milk | Subcatg | Milk Sales |
| Wool | Subcatg | Wool Sales |
| Livestock Sales | Income | Sales of farm raised livestock |
| Beef | Subcatg | Sales of farm raised beef |
| Hogs | Subcatg | Sales of farm raised hogs |
| Other | Subcatg | Sales of other farm raised livestock |
| Sheep | Subcatg | Sale of farm raised sheep |
| Nonfarm Income | Income | Income from off-farm sources |
| Other Farm Income | Income | Income not related to crops or livestock |
| Custom Work | Subcatg | Payment for services |
| Gov't Payments | Subcatg | Agricultural Program Payments |
| Miscellaneous | Subcatg | |
| Patronage Refunds | Subcatg | Co-op or business refunds |
| Sale of Purchased Crops | Income | Sales of crops purchased for resale |
| Fruit & Vegetables | Subcatg | Sales of fruit and vegetables purchased for resale |
| Grain | Subcatg | Sales of grain purchased for resale |
| Hay | Subcatg | Sales of hay purchased for resale |
| Tobacco plants | Subcatg | Sales of tobacco plants purchased for resale |
| Sale of Purch Livestock | Income | Sales of livestock purchased for resale |
| Beef Cattle | Subcatg | Sales of beef cattle purchased for resale |
| Dairy Cattle | Subcatg | Sales of dairy cattle purchased for resale |
| Hogs | Subcatg | Sales of hogs purchased for resale |
| Other | Subcatg | Other livestock purchased for resale |
| Sheep | Subcatg | Sales of sheep purchased for resale |
| Breeding Fees | Expense | Livestock breeding fees |
| Capital Purchases | Expense | Purchase of capital items |
| Equipment | Subcatg | Purchases of machinery & equipment |
| Livestock | Subcatg | Purchases of breeding livestock |
| Other | Subcatg | Purchases of other capital items |
| Real Estate | Subcatg | Purchases of land & buildings |
| Chemicals | Expense | Pesticides and other farm chemicals |
| Conservation Expenses | Expense | NOTE: See tax instructions for explanation |
| Crops bought for resale | Expense | Cost of crops purchased for resale |
| Fruit & Vegetables | Subcatg | Cost of fruit & vegetables purchased for resale |
| Grain | Subcatg | Cost of grain purchased for resale |
| Hay | Subcatg | Cost of hay purchased for resale |
| Tobacco plants | Subcatg | Cost of tobacco plants purchased for resale |
| Dues | Expense | Farm organization dues |
| Employee Benefits | Expense | Employee benefits other than pension |
| Feed Purchased | Expense | Feed purchased for livestock |
| Fertilizer | Expense | Fertilizer and lime purchases |
| Fuel | Expense | Gasoline, fuel, and oil |
| Hired Labor | Expense | Gross amount including taxes |
| Federal Income Tax | Subcatg | Federal income taxes withheld |
| FICA | Subcatg | Employer's share of FICA tax |
| Local Tax | Subcatg | Local income taxes withheld |
| Medicare | Subcatg | Employer's share of medicare tax |
| State Tax | Subcatg | State income taxes withheld |
| Unemployment insc | Subcatg | Payments for unemployment insurance |
| Insurance | Expense | Insurance other than health |
| Interest | Expense | Farm interest expense |
| Mortgage | Subcatg | Mortgage interest paid to banks, etc |
| Other interest | Subcatg | Other farm interest expense |
| Lvstk bought for resale | Expense | Cost of livestock purchased to resell |
| Beef Cattle | Subcatg | Cost of beef cattle purchased to resell |
| Dairy Cattle | Subcatg | Cost of dairy cattle bought to resell |
| Hogs | Subcatg | Cost of pigs/hogs purchased to resell |
| Other | Subcatg | Cost of other livestock purchased to resell |
| Sheep | Subcatg | Cost of lambs/sheep purchased to resell |
| Machine Hire | Expense | Custom machinery hire expenses |
| Nonfarm expenses | Expense | Tax deductible nonfarm expense |
| Charity | Subcatg | Charitable contributions |
| Childcare | Subcatg | Childcare expenses |
| Medical | Subcatg | Family medical expenses |
| Doctors | Subcatg | Doctors, dentists, hospitals |
| Insurance | Subcatg | Medical insurance |
| Medicine | Subcatg | Medicine and drugs |
| Travel | Subcatg | Medical travel and lodging |
| Nonfarm Taxes | Subcatg | Nonfarm property or income taxes |
| Other nonfarm expense | Subcatg | |
| Other | Expense | Other farm expenses |
| Pension | Expense | Pension and profit-sharing plans |
| Rent | Expense | Rent or lease payments |
| Machinery | Subcatg | Vehicles, machinery, and equipment |
| Other | Subcatg | Land, animals, etc |
| Repairs | Expense | Repairs and maintenance |
| Seed | Expense | Seed and plants |
| Storage | Expense | Storage and warehousing |
| Supplies | Expense | Farm supplies purchases |
| Taxes | Expense | Farm taxes |
| Trucking | Expense | Freight and trucking |
| Utilities | Expense | Farm utilities |
| Veterinary | Expense | Veterinary and medicine |
For More Information
For additional information about this interactive decision tool, please contact, Richard Trimble or Steve Isaacs.