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December 2019

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Merry Christmas from the FBS/MASA team!

FBS-MASA Team 2019

Dear Friend,

The people who walked in darkness have seen a great light...for to us a child is born, to us a son is given, and the government shall be upon his shoulder, and his name shall be called Wonderful Counselor, Mighty God, Everlasting Father, Prince of Peace. (Isaiah 9:2,6)

As FBS wraps up its 39th year and the Mutual Agricultural Software Alliance its first we want to thank you for sharing our vision for on-farm, integrated management tools.  There's more excitement to come in 2020! 

In this month's newsletter:


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One day workshop packed with sessions presented by savvy ag finance experts and lenders

Big Picture Topics:

  • How accrual transactions affect income statements
  • How to measure business performance using ratio analysis
  • How to find and use financial resources to improve your business performance
  • How to get what you want when working with lenders and accountants

The Farm Futures Ag Finance Boot Camp will help you boost your financial recordkeeping skills for improved farm business management.

Both events sponsored by Logo Smallest

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The Farm Futures Business Summit brings together some of the smartest minds in farm and risk management to focus on the greatest challenges you face. The summit provides rich networking opportunities, lively debate and business training to help you navigate the increasing complexities facing farm owners and operators. This is your chance to upgrade skills and learn the secrets of high-level management from a 30,000-foot perspective right down to the farm gate.

The farm workplace of today is unrecognizable from the workplace of 10 years ago.

Thanks to geopolitical upheaval, thin margins and technology innovation, farm management today is undergoing rapid transformation. What worked for your parents’ generation won’t necessarily work today.

What’s your vision for 2020?

At the Farm Futures Business Summit, you will gain clear insights for a profitable future. Speakers will showcase the driving forces behind change and how you can turn threats into opportunities.


Winter Trade Show/Seminar Calendar

Show Date Location Booth
Iowa_Pork_Congress January 22-23 Des Moines, IA 302
Boot Camp 2020 January 22 Coralville, IA  
Summit 2020
January 23-24 Coralville, IA  
National Farm Machinery Logo
February 12-15 Louisville, KY 1009
Commodity Classic2016
February 27-29 San Antonio, TX 224

FBS will be sponsoring or exhibiting at these outstanding national events.  Click on the logos for more information.

FBS/MASA Users in the News

2019 Pork Powerhouses

Successful Farming Magazine just released their 2019 list of America's largest pork producers which includes 9 FBS/MASA users.

Ranking Company Number of Sows
8 Carthage System* 160,000
18 Eichelberger Farms* 62,500
19 Schwartz Farms 62,000
21 Wakefield Pork 54,800
33 Fine Swine 31,500
35 Hord Livestock 29,000
36 J.C. Howard Farms* 28,000
41 Heimerl Farms* 21,000
43 Dykhuis Farm* 19,000

* Indicates MASA member.


Pfaltzgraff Farms Named Colorado Association of Conservation Districts Conservationist of the Year

The Roy Pfaltzgraff Jr. family received the Colorado Association of Conservation Districts 2019 Conservationist of the Year award in Colorado Springs. The award was presented at the annual CACD meeting Nov. 20. The family will also be honored again during a rodeo performance at the National Western Stock Show in January.

After working with farmers in Nigeria adapting new crops and farming techniques since 1967, Roy Pfaltzgraff Jr., his wife Kathy, and their family returned to the family farm to join his father-in-law in 1973. The farm, south of Haxtun, dof 2,080 dryland acres.

Roy first planted sunflowers in 1975 and no-till corn and milo in 1983. In 1999, the farm converted totally to no-till and son, Roy Pfaltzgraff III, joined him. By then every field was being soil sampled and fertilizers were applied as prescribed. Farm records were computerized so crops could be analyzed financially.

To further their no-till education, they attended Colorado Conservation Tillage Association’s conference in Burlington and Farming Evolution in Holyoke. Comparing 20-year crop records to Haney soil tests, sunflowers had a positive effect on soil health with wheat/fallow the poorest. A five-year rotation with a crop on every acre every year was initiated.


Q&A: Financed Equipment Trades 

Q. I traded tractors and financed the difference so no cash was paid.  How do I enter this transaction?

A.  To simplify the example I’m going make a few assumptions:

Sarah 2019Sarah Dixon,FBS Support Coordinator
  • You’re already tracking each major piece of equipment as its own Service center in FBS.
  • You’re relying on an accounting professional who’s maintaining a depreciation schedule and can advise you how to book gain/loss on the trade.
  • Here’s a section of the sales contract:
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  • The new tractor is purchased for $199,900.
  • The old tractor is traded in for $159,000.
  • You’ll pay a $40,000 “boot.”
  • However, the equipment company will finance 100% of that amount.
  1. Because no cash is involved this can be recorded as a Journal Entry. If cash is paid you can record a check or accounts payable.




  1. The first line is a credit (-$159,900) entry to the traded equipment asset account and Service center.
  2. The second line is a debit ($199,900) entry to the purchased equipment asset account and Service center.
  3. The third line will automatically calculate the difference ($40,000).  Code that amount as a credit to a loan liability account and center. If that’s not the net value of the loan there may be some miscellaneous processing fees that need to be recorded to balance the transaction.

That completes the initial transaction.   When you’re ready to close out your tax year your accountant will calculate recaptured depreciation on the traded item and provide you with the appropriate closing journal entry.


Schedule  Demo