1. Mid-Shore Financial Management Workshop Shannon Potter Extension Educator, AGNR Maryland Cooperative Extension Talbot County 2005 Extension Risk Management Education Conference

2. Background  Farm Business Management  Risk Area: Financial  Conduct a Financial Management Workshop using QuickBooks Software  Held Saturday March 27, 2004  Funded by NERME grant $1,000

3. Targets – by the end of the project  Participants will understand basic items on a balance sheet, cash flow and income statement  Participants will increase financial record keeping knowledge  Participants will learn the basics of journal entries and QuickBooks software

4. Targets - after the project  Participants will increase usage of financial documents on the farm  Participant will increase usage of financial software

5. Homework  Purchase software and get familiarized QuickBooks Pro 2004QuickBooks Pro 2004  Search for an available lab Check costsCheck costs High school, community collegeHigh school, community college  Attend a QuickBooks course  Gather resources and materials  Develop handouts/evaluations

6. Design  6-hour course held on a Saturday  Local community college computer lab  Class agenda IntroductionIntroduction Financial StatementsFinancial Statements QuickBooks IntroQuickBooks Intro QB EasyStep InterviewQB EasyStep Interview Q & AQ & A EvaluationsEvaluations

7. Market  This is essential to a successful QuickBooks course  Articles in newsletters, newspapers, flyers, direct mailing….  Received calls from QuickBooks users

8. Audience  Diverse  Small business, farms, corporations, ag lenders  Participants were from the 5 county area  10 participants (15 registered)  Various computer knowledge

9. QuickBooks

10. QuickBooks

11. QuickBooks

12. QuickBooks

13. QuickBooks

14. Evaluation  Designed for impact measurements  End of class 90% received considerable new information on farm records90% received considerable new information on farm records 90% increase knowledge on QB entries90% increase knowledge on QB entries 100% received considerable new information on setting up accounts100% received considerable new information on setting up accounts 100% received considerable new information on how to navigate QB100% received considerable new information on how to navigate QB

15. Evaluation  Comments “Learned how to open an account”“Learned how to open an account” “Keep record of finances”“Keep record of finances” “Setting up a QB account”“Setting up a QB account” “Power of QB”“Power of QB” “How to use a mouse”“How to use a mouse” “It is simpler with pencil and paper”“It is simpler with pencil and paper”  All but one participant were interested in an advanced class

16. Evaluation  Follow up – 6 months later Received 4 backReceived 4 back 2 have purchased QB2 have purchased QB 1 has thought about it1 has thought about it 1 is not going to purchase QB1 is not going to purchase QB Of the 3 interested in using QBOf the 3 interested in using QB  “it will increase the efficiency of the farm”

17. Tips  Computer lab is a necessity  Have an additional, computer literate, person as a helper  Be available for one-on-one questions and time  Market as many outlets as available  Don’t give up

18. Resources  The QuickBooks Farm Accounting CookBook by Mark Wilsdorf, Flagship Technologies, www.goflagship.com www.goflagship.com  Intuit website  QB help function  Chesapeake College Office of Continuing Education and Workforce Training

19. Thank You