Home 5 Ag Stories Magnify offers proper insight into farm financials

Magnify offers proper insight into farm financials

Photo courtesy of Farm Credit Services of America

A customer-owned financial cooperative strives to assist farmers in doing what they do best, all while helping them become good businessmen and women.

Farm Credit Services of America developed Magnify in an effort to help producers efficiently manage financial information. Travis Meisgeier, financial officer with FCSAmerica, best describes this tool as “your best friend” when it comes to bookeeping. 

“What we want to do (is) help them do what they love, but also be businessmen/women in agriculture,” Meisgeier said. “Magnify allows you to spend less time in time in the office, or more efficient time in the office, so you can reconcile your books.”

Magnify directly links to your FCSAmerica accounts, providing you a better audit of cash flow, cost of production, and other crucial information. Meisgeier says timely access to such information helps keep your farming operation as successful as possible.

“A lot of producers fail to make a long-term marketing plan and (follow it) throughout the year. The reason they fail to do that is because there are many unknowns that come up throughout the year,” Meisgeier said. “Magnify is going to allow you to build out that projection at the beginning of the year. And (then) as you continue to reconcile your books throughout the year, you can have an up-to-date projection and know your breakeven prices  as the year goes on.”