Financial Record Keeping
What is the Financial Record Keeping Programme (FRKP)?
The Financial Record-Keeping Programme (FRKP) offered by the Western Cape Department of Agriculture is responsible for assisting farmers with a well-functioning, complete and accurate financial record keeping system. It focuses amongst others to the recording/capturing of all production activities and financial transactions from production records and source documents summarised in the financial record keeping book, supplied by the participating projects, onto the accounting software in order to provide financial and management statements, based on sound accounting principles.
The Department of Agriculture Western Cape can advise and support you with your FRKP implementation plan.
Department of Agriculture Western Cape
The Department of Agriculture Western Cape, Agricultural Economic Services Programme, Production Economic Division started with the FRKP in 2006 to support the agricultural sector with the implementation financial record-keeping.
Objective of the FRKP:
Doing an assessment of agri-businesses before joining the Financial Record Keeping Programme, and also identify and document gaps and areas of intervention.
- Collection of original source documents in order to facilitate the monthly capturing on an accounting software.
- On a monthly basis, capture the information from source documents on accounting software.
- Produce management statements for each agri-business.
- At the end of the financial year, produce compiled financial statements for each agri-business.
- Provide business administration services.
- Upon request, provide basic training to farmers and officials involved on Financial Record Keeping Programme.
- Provide feedback to farmers on their financial statements and results of financial analysis.
