Books That Follow the Farm Year
An Aberdeen business often has two calendars: the calendar year it reports on and the farm year its customers live by. Prepayments arrive in winter, inventory moves in spring, grain and livestock money arrives at harvest, and operating loans are renewed at year end. Books that do not reflect that pattern give a misleading picture of profit and cash. BOMCAS keeps books for Aberdeen businesses remotely, using QuickBooks Online or the system you already have, and closes each month on a fixed schedule.
The monthly routine every South Dakota business needs is described on our South Dakota bookkeeping page. Aberdeen adds the farm calendar, dealer inventory and seasonal hospitality.
What We Do Each Month
- Reconcile bank, credit card, loan and line-of-credit accounts.
- Record sales, deposits and customer prepayments, and match them to invoices.
- Post payroll from your payroll provider and reconcile tax liabilities.
- Separate state and city sales tax, gross receipts tax, tourism tax and district charges from revenue.
- Review receivables and payables and send you a short list of questions.
- Deliver a profit and loss statement, balance sheet and cash summary.
Dealers and Agricultural Suppliers
Equipment, seed and chemical businesses need their books to track customer prepayments as liabilities until products are delivered, inventory by location and floor-plan financing by unit. Manufacturer rebates and programs need to be recorded when earned. We keep inventory and floor-plan balances reconciled to lender statements, which banks will ask for when lines are renewed.
Farm and Ranch Operations
Farms around Aberdeen are increasingly organised as entities with lenders who expect regular financial statements. We separate the farm's accounts from household spending, track grain in storage and contracts, record crop insurance and government payments, and keep machinery and land records ready for the year-end tax return. Patronage from cooperatives is recorded in cash and equity separately.
Clinics, Contractors and Hotels
Health practices near Aberdeen's hospitals need insurance deposits matched to billings and patient balances. Contractors need job costing that ties materials, labour and subcontractor costs to each project, with contractor's excise tax recorded by job. Hotels and restaurants busy during hunting season need daily sales summaries posted with each tax separated, and BID charges recorded as collected for the district.
Nonprofits and Community Organisations
Aberdeen has a large number of churches, service clubs, sports associations, arts groups and foundations. Many rely on volunteer treasurers. We help them record restricted and unrestricted gifts, track grants, reconcile event income, prepare the figures for Form 990 filings and produce reports a board can understand. Fundraising events that sell food, drink or admissions may need to collect sales and gross receipts tax unless an exemption applies, so we check those records too.
Downtown Property Owners
Owners of buildings in Aberdeen's downtown business improvement district pay an annual occupation tax of 4 cents per square foot of footprint. We record it as a property expense, allocate it among tenants where leases call for recovery, and keep the calculation with the property file.
Reports Lenders and Boards Ask For
In Aberdeen, much of the reason for good books is outside reporting. Farm lenders and community banks renew operating lines once a year and ask for a balance sheet, an income statement and sometimes a borrowing base built from inventory and receivables. Equipment dealers report to manufacturers on floor-plan units. Nonprofits report to boards and grant makers. We build these reports from the same monthly close, so the figures your banker sees match the figures on your tax return, and we can prepare an accrual-adjusted statement for a farm that keeps its tax books on the cash method.
Trucking, Grain Hauling and Equipment Costs
Many Aberdeen businesses own trucks and trailers, whether to haul grain, deliver products or move crews. We set up classes or locations so fuel, repairs, insurance and licensing are tracked by unit, and record heavy vehicle use tax and IFTA fuel tax payments where they apply. Knowing the cost per mile or per load helps with pricing and with decisions about replacing equipment.
Catching Up
If your books are months or years behind, we start by reconstructing the bank activity, then rebuild sales, payroll and tax accounts so the returns can be filed and the current month can close normally. Many Aberdeen clients start this way after a bookkeeper leaves or a business grows quickly.
Aberdeen Bookkeeping Questions
Which software do you use?
We work mainly in QuickBooks Online and can use other cloud systems if your business already relies on them.
Can you handle farm books?
Yes. We record grain and livestock sales, crop insurance, government payments, co-op patronage and machinery, and prepare statements for lenders.
How do you record customer prepayments?
Prepayments for seed, chemicals or equipment are recorded as liabilities until the goods are delivered, then moved to revenue.
Do you help nonprofit treasurers?
Yes. We set up fund tracking, reconcile event income and grants, and prepare the figures needed for board reports and Form 990.
Talk to BOMCAS About Bookkeeping in Aberdeen
Each month's close supports sales tax filing and payroll reconciliation, and at year end it becomes the base for the business tax return and owners' individual returns. Reliable books also make tax planning possible. Where records are years behind, begin with late filing, and businesses with Canadian owners or suppliers should consider cross-border tax. Across South Dakota, we also explain business returns, personal returns, sales tax, payroll, planning, back taxes and Canada–U.S. tax on our state pages, which start from the South Dakota overview.
Tell us a little about your Aberdeen business or household and BOMCAS will reply with next steps and what we need to quote. Reach us through the contact page or the form below, by phone at 780-667-5250 or by email at info@bomcas.ca. You can also go back to the Aberdeen overview to compare services. This page is general information and is not advice for your own situation.