Financial Tracking
Farm Owners and Farm Managers in LiteFarm will have different needs in regard to tracking the finances at their farm. For some farmers simply knowing whether their overall operations are profitable is enough. For others, they may want to see the profitability for each of their crops. However, being able to tie specific capital or labour expenses back to a specific crop will require many more inputs from the user. To this end, LiteFarm will offer two tiers to financial tracking. Each additional tier, offers the user additional insights but requires additional inputs as well. In line with our Paradigm of Accessibility, the default value is “Farm level” (the least required data input) and we prompt and inform the user of their options when contextually relevant.
Financial Tracking Tiers
Level | Description | Impacts |
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Farm | For farm-level financial tracking, revenues and expenses are tracked only to the farm level.
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Crop | For crop-level financial tracking, most types of revenues and expenses can be traced back to a specific field or crop. Based on this, farmers will be able to record the specific profitability for each individual crop on their farm. |
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