Office planter.

Dear Friend,

Farmers around here are champing at the bit to get panters back in the fields following the recent cool spell. With our office adjacent to a corn field as well as an ethanol terminal, we're always right in the middle of the farming action.

There's plenty of action in the software world as well:

Preview of the next generation of software.
Read our April Farm Management Accounting blog posts.
FBS/MASA Users in the news.
Save the Dates: Farm Financial Standards / MASA Members / Ag Software Success Summit
Aging Report balances.
SDG

Preview of the Next Generation of Software

In the coming weeks FBS clients will be receiving their 2023-2024 TiMEsavr service renewal invoices. Included in this service will be our "next generation" Version 12.1, arriving in Q4 of 2023. Because this is a substantial investment we want to explain what it means to you and your operation's future.

1. Modern language. Over the past four years our developers have been converting our "mainline" software to Microsoft .NET for higher performance and compatibility with modern Windows and cloud platforms.

2. Open source database. In addition to converting to .NET, our most recent version (11.8) runs almost exclusively through Microsoft JET (Access) database tables. In Version 12.1 those tables will be converted to a powerful, open source relational database--MariaDB Server. One of the most popular database servers in the world, MariaDB is made by the original developers of MySQL and guaranteed to stay open source. Notable users include Wikipedia, WordPress.com and Google. According to the MariaDB Foundation's website, "MariaDB Server is used because it is fast, scalable and robust, with a rich ecosystem of storage engines, plugins and many other tools make it very versatile for a wide variety of use cases."

3. Producer-focused and controlled. The open source route means that your priceless data will never be locked up in proprietary data file, but can be accessed with "data mining" tools and shared with your trusted partners. Through the guidance of the Mutual Agricultural Software Alliance (MASA), Version 12.1 is being designed to protect your business's confidentiality by not being housed in a public "big database."

4. Business logic continuity. While Version 12.1 will offer greater capacity, compatibility, performance, and protection it will retain the business logic that FBS customers have depended on for four decades: production/financial integration, concurrent cash, accrual, management, market value reports, and activity-based inventory valuations.

5. Growth path. By maintaining your TiMEsavr service you'll be poised to transition to the next level--the MASA Farm Financial Hub--for even greater automation, integration, and business intelligence.

So thanks in advance for your continued loyalty and enthusiastic support for the next generation of FBS/MASA software!

April Farm Management Accounting Blog Posts

April Blog 1

April Blog 2

WHAT TO LOOK FOR IN A FARM INVENTORY MANAGEMENT SOFTWARE

For any farm, inventory management is one of the most challenging, yet rewarding accounting processes affecting the integrity of your entire...

CREATE AN ENTERPRISE BUDGET WITH FARM MANAGEMENT SOFTWARE

Every day, farm owners and operators are faced with a series of choices—some major, some minor. From choosing which crops to plant to deciding on...

ANALYZE FARM ENTERPRISES TO MANAGE PROFIT CENTERS

When preparing your farm enterprise’s business plan, what’s the reason for your analysis? Is it just to hand over to your credit manager for a...

5 WAYS FINANCIAL MANAGEMENT CHOICES IMPACT FARM PROFITABILITY

Nobody said managing a farm would be easy. From managing actual crops to tracking financials for farm profitability, modern farming can be...

HOW A FARM MANAGEMENT INFORMATION SYSTEM HELPS FARMERS BEAT INFLATION

Inflation is an ever-present problem for any business—and farms are no exception. Higher inflation rates can mean having to pay more to workers to...

UNDERSTANDING PROFIT AND COST CENTERS TO IMPROVE FARM PROFITABILITY

Financial management can be a crucial part of ensuring farm profitability. Conversations about the agricultural industry tend to focus more on the...

FBS/MASA Users in the News

The November 2022 Farm Journal Top Producer story "Invest in Your Reputation," quotes Madeline Peterson, of the 2016 Top Producer of the Year Peterson Farms of Kentucky. Her social presence strives to "create meaningful content for the community while weaving in the narrative of Peterson Farms' legacy."

Paul Neiffer in the "Farm CPA" podcast each week asks, "What is your definition for success in farming?" Iowa grower and 2021 Top Producer of the Year Steve Henry's response is, "Being a faithful steward of the blessings we've received and having been called to steward." (Farm Journal Top Producer March/April 2023.)

Click here to hear the whole interview and how Longview Farms uses (FBS) accounting.

Save the Dates: Farm Financial Standards / MASA Members / Ag Software Success Summit

Update your favorite calendar app because 2023 will be a unique year for farm financial management:

The Farm Financial Standards Council will be holding its Annual Meeting in Moline, Illinois, July 26th-28th. The events will be held in the Vibrant Arena. Watch this newsletter for details.
The Mutual Agricultural Software Alliance (MASA) will hold its annual member business meeting at the Wyndham Hotel (next door to the Vibrant Arena) on July 26th.
The 2023 FBS/MASA Ag Software Success Summit has been moved to November 14th-15th (location to be determined).

We look forward to seeing you in Moline sometime this year!

Q&A: Aging Report Balances
Q. Why don't the two totals at the bottom of the AP or AR aging report match?	Sarah Dixon, FBS Support Coordinator sarah@fbssystems.com (800.437.7638/extension 100).
A. When you run AP or AR Aging reports and select to Use all payments, the report will give you two totals. The top value (TOTALS) is the current balance of all open invoices that were posted within the date range selected plus "look back" months (defined in Preferences). (If you don't check Use all payments, TOTALS will include the open invoices as of the ending date of the report.) The bottom line (A/R or A/P Ledger Balance) includes just open invoices that were entered during the calendar year chosen in the report. If you are running these reports for 2023, the bottom line only includes invoices dated in the year 2023 that are still outstanding.