Mid-Shore Financial
Management Workshop
Shannon Potter
Extension Educator, AGNR
Maryland Cooperative Extension
Talbot County
2005 Extension Risk Management
Education Conference
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

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

Targets - after the project
Participants will increase usage of
financial documents on the farm
 Participant will increase usage of
financial software

Homework

Purchase software and get familiarized
• QuickBooks Pro 2004

Search for an available lab
• Check costs
• High school, community college
Attend a QuickBooks course
 Gather resources and materials
 Develop handouts/evaluations

Design
6-hour course held on a Saturday
 Local community college computer lab
 Class agenda

• Introduction
• Financial Statements
• QuickBooks Intro
• QB EasyStep Interview
•Q & A
• Evaluations
Market
This is essential to a successful
QuickBooks course
 Articles in newsletters, newspapers,
flyers, direct mailing….
 Received calls from QuickBooks users

Audience
Diverse
 Small business, farms, corporations,
ag lenders
 Participants were from the 5 county
area
 10 participants (15 registered)
 Various computer knowledge

QuickBooks
QuickBooks
QuickBooks
QuickBooks
QuickBooks
Evaluation
Designed for impact measurements
 End of class

• 90% received considerable new
information on farm records
• 90% increase knowledge on QB entries
• 100% received considerable new
information on setting up accounts
• 100% received considerable new
information on how to navigate QB
Evaluation

Comments
• “Learned how to open an account”
• “Keep record of finances”
• “Setting up a QB account”
• “Power of QB”
• “How to use a mouse”
• “It is simpler with pencil and paper”

All but one participant were
interested in an advanced class
Evaluation

Follow up – 6 months later
• Received 4 back
• 2 have purchased QB
• 1 has thought about it
• 1 is not going to purchase QB
• Of the 3 interested in using QB

“it will increase the efficiency of the farm”
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

Resources
The QuickBooks Farm Accounting
CookBook by Mark Wilsdorf, Flagship
Technologies, www.goflagship.com
 Intuit website
 QB help function
 Chesapeake College Office of
Continuing Education and Workforce
Training

Thank You