USERS FROM NINE STATES ASSEMBLE FOR FBS 2008 CONFERENCE

Thanks again, to all who attended and especially, presented at our annual User Conference held on August 20 and 21 in Moline, Illinois. Here are some visual highlights:

When was the last time you had this much fun at a software conference?

Dr. Howard Doster relates how computer technology has accelerated the decision-making process.	Ron Swanson, updates us on Farm Financial Standards Council activity, administers a management proficiency test and provides free FFSC CDs to participants.
Daryl Ellis relays how to add value to Managerial Accounting through tools like Excel Pivot Tables and Tableau Graphics.	Cheryl Brown prepares us for the upcoming CenterPoint Payroll upgrade.

We're actually "there" at the dinner theater presentation of "Are We There Yet?"	John McNutt shares managerial / financial accounting concepts.
Our resident "futurist," Ev Chambers, warns us of the 20,000 years of change coming just in this century.	Über geek, Ken Wedig, shows his smartphone and tells us to get ready for "cloud computing" and petabyte hard drives.

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Introduction

The following article is a reprint from the November, 2007 e.farmsmart.  We're running it again to provide options for automating and processing your harvest records this coming season. For information on how you can implement either of these two options, contact the FBS Sales Department at 800.437.7638.

Converting Yield Monitor Data

If your best source of yield data comes through a combine yield monitor then follow these instructions:

Step 1:  Select Import Crop Yield File (Input | Import/Export Data | Import Crop Yield File)
Step 2:  Choose your FODM device (Ag Leader, Greenstar, CNH, etc.) from the drop-down list and point to the yield file to import.
Step 3:  Match yield monitor batches with FBS Centers, Projects/Fields and Varieties.
Step 4:  Compare results in FBS with your mapping software.  Note that "raw" acres/yield per acre in FBS are based on FBS field acres and the assumptions the yield monitor uses regarding acres covered and grain flow.  The final acres and variety distributions are calculated in Step 6 below.

Converting Scale Tickets

There are two approaches for importing individual harvest loads into FBS.

Step 1:  Record loads on an Xpaper form using a digital pen (see above) or type directly into Excel.  Note that you don't need to enter or calculate net weight or quantities.

Step 2:  Optical character recognition (OCR) converts the Xpaper form into an Excel spreadsheet.  Review and correct the data.

Step 3:  Select Input | Import/Export Data | Digital Paper Interface.  (An Import Grain Tickets option is also available.)

Step 4:  Point to the Excel file and click on the Harvest Map button.

Step 5:  Click on the Load from Actual button to match FBS definitions with the Excel spreadsheet.  Click the Transfer Harvest Data button to import loads

Calculating Harvest Acres and Variety Distribution

Up until this point acres have been estimated (from the yield monitor) or unknown (from scale tickets) and varieties have not been assigned.  This final step "cleans up" the raw acres and yields and only needs to be done once at the end of the season.

Step 6:  Select Input | General | Crop Input | Calculate Harvest Acres.  Specify the time period, centers and fields you want to calculate and whether the acres are to be based on project-center/field acres or planted acres.  Finally, if you wish to prorate each load between varieties planted in a field, check Update Harvest Seed.

Compare the report above with the original harvest record from Step 4 under the Yield Monitor Import.  Note that Total Harvest acres have changed to reflect Project/Center rather than Field acres and variety acres and yields have been prorated based on the original planted acres.

Valuing the Crop Inventory Once you've determined the final yield, e.CLIPSE managerial accounting / inventory valuation can value the resulting inventory based on lower of cost or market.  We'll cover the methodology in a future article (and you learn more about managerial accounting at the "Super Power Profits" seminars covered in the first story).  Below is the cost detail from the "40" field from which scale tickets were imported.

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While production, operating and financing expenses are spread out more or less evenly across twelve months and are mandatory, capital purchases are generally lumpy and discretionary. That's why adding capital investments are the second-to-last step in building a budget.

Capital Investment Process

Access the Asset screen by clicking on Asset Record Input or Edit from the LifeCycle menu.



This screen is very similar to the Asset Register (used to make adjustments to balance sheets without posting general ledger entries).  In the budget mode, all we're concerned about are purchases or sales of capital items.  Crops & Feed and Livestock are normally handled through the specialized crop and feeding screen previously described so ignore those tabs.  To add a new entry, select the appropriate tab and click on the Add button.

Enter the permanent (header) information on the top half of the screen.

•	Description.  Include year/model number.
•	Asset account.  Maps this item to an account line on the Cash Flow and Pro Forma Balance Sheet.
•	Offset account.  Reserved for market value adjustments in future versions.
•	Center.  For tying budget back to cost or profit centers.
•	Division.  Use if company has multiple divisions.
•	Date acquired.  Enter the purchase date.
•	Cost or Basis.  Enter the purchase price, including value of trade-in
•	Accumulated Depreciation.  Leave blank for budget entries.
•	Service Life.  Enter estimated life.
•	Salvage Value.  Enter an estimate value at end of service life.

Enter the detail information on the first line on the bottom half of the screen.

•	Date.  Normally the same date as Date acquired (unless there will be several installment payments).
•	Quantity.  Used as a notation.
•	Miles/Hours.  Used as a notation for used equipment.
•	Price.  Purchase/Sale price for one unit.  If this is a sale, enter a negative (-) value.
•	Unit.  Used as a multiplier for Value.
•	Value.  Quantity X Price.  Normally the same date as Cost or basis (unless there will be several installment payments).
•	Market Price.  Current market value for one unit.
•	Market Value.  Quantity X Market Price.  Used by the Pro Forma Market Value Balance Sheet.

As a result of completing this capital purchase record the main Cash Flow Statement has been updated for the appropriate month(s).

Next month we'll complete the budgeting process with the financing plan.

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Hi.  I'm Katie Ball, and I'm new at FBS Systems Inc.  I recently received my Bachelor's Degree in Agriculture with an emphasis in Ag Business and a minor in Finance from Western Illinois University.  I also received my Associate of Science Degree in 2006 from Black Hawk East.

I come from a farm background, growing up on a dairy farm in Western Illinois where I raised Registered Ayrshires.  I learned from a young age the importance of hard work, dedication and responsibility.  These are traits I will demonstrate when working with you and your account.

If there is anything I can do for you don't hesitate to give me a call at 1-800-437-7638 ext. 106 or e-mail katie@fbssystems.com.  I look forward to working with you!

Editor's note:  No, Katie is not related to FBS Sales Manager, Doug Ball.

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