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February 2019
Commodity Classic 2019 2
Farm Showtime 2019

Dear Friend,

It's fun to see the latest toys for "big boys" at the winter farm shows.  However, it's a real joy to visit with FBS clients who stop by our booth.  Next month we'll share our annual photo gallery of the great folks who keep us inspired and on track.

Also in this month's FarmSmart:

  • FBS's New Logo Launches a New Era.
  • Management Accounting Automation.
  • Trade Show Calendar.
  • Missing AP Vendor.                                                                                                                                               SDG
FBS's New Logo Launches a New Era Logo Small
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 1986  2000

As FBS begins its 39th year of serving North American agriculture it's time to update our image along with our software.  While we can reveal our new logo, which depicts financial and production software integration, we can't yet share some exciting news regarding where that software is headed. 

Stay tuned!


FFSC Conference 2018
(Part 5) 

The following is a summary of a presentation entitled "Financial and Management Accounting Software--Developments, Implementation Challenges, and Integration Issues" made in July 2018  to the Farm Financial Standards Council Annual Conference in Champaign, Illinois.

Technical Tools of the Trade

Last month we addressed the "Holy Grail" of farm management:  the integration of production and financial data.  This month we'll consider another valuable "technical tool of the trade."  

Management Accounting Automation

Agriculture is a complex "manufacturing" business that's usually taxed on a cash basis and administered by non-accountants  Fortunately most of the specialized transactions and adjustments can be generated automatically by software.  Here are some examples:

  • Simultaneous cash and accrual records.  Accrual accounts payable and receivable entries can be converted into cash transactions by moving them to the period in which they are paid or received.
  • Activity-based costing.  Equipment and labor activity costs can be allocated to their cost objects (crop projects and groups of animals) based on "cost drivers" associated with those activities.
  • Work in process (WIP) and inventory adjustments.  Cash and allocated activity-based costs can be rolled in and out of inventories as they are produced and sold.
  • Flow-through stage costs.  Costs can automatically be "pushed" between production stages (field production to crop marketing and breeding herd to nursery to finishing stages).

Next month we'll drill deeper into the "virtuous cycle" of automated activity-base costing.

2019 Show Schedule

We look forward to visiting with you at one or more of these trade show events in 2019.

Date Event Location Booth
Feb 28-March 2
Commodity Classic2016
Orlando,Fl 2378
June 5-7
World Pork Expo
Des Moines, IA TBD

Q&A: Missing AP Vendor?

Sarah 2019
Sarah Dixon, FBS Support Coordinator

Q.  When I try to pay an Accounts Payable invoice it doesn’t show up when I select the vendor.  However, the invoice shows up as unpaid when I run an AP Detail Report.  Why can’t I pay it?

A.   This happens when you save an AP entry to a non-AP vendor.  This can happen one of three ways:

  1. You save the AP but later remove the AP Report Flag in the Vendor Setup screen.
  2. You save the AP but later change the vendor name in any way (spelling, capitalization, punctuation) in the Vendor Setup screen.
  3. You type the vendor name directly into the AP entry without using the Vendor List. (The program will generate the following warning message if you attempt to do this.) 

    AP Warning border

To fix this problem go to Setup>Accounting>Vendors and do one of the following:

  1. Change the Report Flag to P for Payables (or B for both Payables and Receivables).
  2. Edit the Vendor name to the original format.
  3. Add the new vendor to the Vendor list.

 AP Report Flag

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