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 January 2023
What's growing here and why is the whole field covered in a net?  (Answer at the bottom of the newsletter.)

Dear Friend,

Here's what's new in 2023:

  • Farm Financial Standards updates.
  • Read our January blog posts.
  • New trade show locations.
  • Eight cutting edge farm management tools.
  • Changing vendor names. 

Farm Financial Standards Council Updates Guidelines

Menomonee Falls, WI. January 12, 2023 – The Farm Financial Standards Council (Council) has released an updated version of the Financial Guidelines for Agriculture.  A revised edition of the corresponding Implementation Guide has also been published.

ffscThe 2023 edition of the Guidelines updates and clarifies the discussion of depreciation, emphasizing book depreciation as the recommended approach for financial analysis, but also acknowledging that tax depreciation and market value-based depreciation approaches continue to be used in agriculture for specific purposes.

According to Todd Doehring, Centrec Consulting, Savoy, IL, a co-chair of the organization’s Technical Committee, minor changes were made to the computation of the repayment and replacement capacity schedule, and to clarify the concept of unfunded capital expenditures which relate to replacement of depreciable capital assets.

The updated document is available for free to members or may be purchased as a PDF download from the FFSC website.

The group also released an updated edition to An Implementation Guide for Non-Accountants. The 2023 version includes the addition of a graphic illustrating how financial recordkeeping may progress from a producer’s current practices to implementation of the recommendations of the Council. The Implementation Guide is designed to be a supplement for non-accounting individuals in applying the various ratios, statements and other elements of both the Financial Guidelines and the Management Accounting Guidelines.

The Implementation Guide also provides a short introduction to the work of the FFSC and is available for free as a PDF download by clicking here. 

Read Our January Blog Posts

Januaryl 2023 blogs


The Farm Financial Standards Council has recently released Financial Guidelines for Agriculture:  An Implementation Guide for Non-Accountants. Not...



"It's not what people don't know that hurts them. It's what they do know that just ain't so."  -Will Rogers. For many farm managers, especially on...



For a long time, in the agricultural sector, technology, beyond farm equipment, was relegated to the back office. Thankfully, farms don’t operate...


Winter Trade Show Calendar

Here are 2 BIG national shows that FBS/MASA is scheduled to attend.  Note that after 40 years at the National Farm Machinery Show in Louisville we have moved "uptown" to the North Wing (Booth 4282.) 

Show Date Location Booth
National Farm Machinery Logo

February 15-18


Louisville, KY

(New location!)

Commodity Classic2016
March 9-11 Orlando, FL 2431

Eight Cutting Edge Farm Management Tools

Farm information management is a critical aspect of modern agriculture. It involves collecting, analyzing, and using data to improve the efficiency and productivity of agricultural operations. In recent years, technological advancements have led to the development of new tools that can help farmers make more informed management decisions and improve their bottom line.

New Tools in Farm Information Management

1. Precision Agricultural Software

Precision agriculture software allows farmers to collect and analyze data from weather stations, soil sensors, and yield monitors. The information can then get used to create detailed maps of the farm and make more precise recommendations for seed planting, fertilization, and pest management.

2. Livestock Monitoring Systems

Livestock monitoring systems use technology such as RFID tags and sensors to track the location and activity of individual animals. This system can help farmers identify potential health issues early on and make more informed decisions about feeding, breeding, and other management practices.

3. Drones

Drones can quickly and easily collect data on crop health, soil moisture, and other factors important for crop production. The information can then get used in making more informed decisions on irrigation and fertilization.

4. Stream Gages

Stream gages are units that are placed in streams to collect water levels. This data can then determine areas where droughts, floods, or other hydro-physical events can affect crops.

In recent years, stream gage models have been integrated with weather stations to create information systems for more precise forecasts of crop health in specific regions.

5. Mobile Farming Units  

Mobile farming units increase the efficiency of rural operations by allowing farmers to carry their entire operations with them. These units can be solar-powered and equipped with soil, water, and temperature sensors that allow farmers to learn about their crop's health.

6. Robotics and Automation 

Robotics and automation have begun to transform the way farmers manage their operations. Automated tractors, for example, can be used to plow and plant fields with greater precision and efficiency. Milking robots like Boumatic's OneView systems can also help farmers milk effectively, improving milk production and reducing labor costs.

7. Automated Irrigation Systems

Automated irrigation systems allow farmers to optimize the use of water and other resources for irrigation. Additionally, it helps farmers to manage their crop water requirement more precisely and get more yield out of their fields.

8. IoT-based Sensor Networks 

Internet Of Things-based sensor networks monitor and collect real-time data on various environmental parameters, such as temperature, humidity, and soil moisture. This information can then optimize crop growth and yield.

Importance of These Tools in Agriculture

1. Improved Efficiency

These new tools can help farmers make more precise and accurate decisions about their operations, improving efficiency and increasing productivity.

 2. Reduced Costs

Automation and precision agriculture can help farmers reduce costs by using inputs like seed, water, and fertilizer more efficiently. Additionally, livestock monitoring systems can help farmers identify health issues early on and take steps to prevent them, reducing veterinary costs.

3. Better Resource Management

These tools can help farmers make better use of resources such as water, land, and labor. For example, precision agriculture software can help farmers create detailed maps of their fields that identify areas where irrigation or fertilization is needed most.

With these new technologies and data integration, farmers can determine what crops work best on specific soil types, manage their livestock more effectively, and save money on inputs by using them more efficiently.

Contact us for more information about these tools and their potential uses in today's farming operations.

Q&A:  How to Handle a Vendor Name Change

Q.  Our credit card number changed recently, and I changed the Vendor name from Chase 1234 to Chase 4567. Now as I’m trying to reconcile, it seems to be treating these as two separate vendors, the GL’s look different, and I’m unable to run an A/P Detail Report.  Also, can I have a unique A/P Ledger Account for credit cards?

Sarah 2019

Sarah Dixon, FBS Support Coordinator (800.437.7638/extension 100). 

A.  You cannot change the name on any Vendor and have it report properly, but it is even more of an issue for A/P and A/R vendors.

  1. The only way to solve this is to change the Vendor back to the original name, create a new Vendor for the new card and then edit the entries that should be on the new card to the new Vendor.
  2. FBS allows up to 5 categories of A/P and A/R accounts.  For example, If you'd like set up a unique account for credit cards first create a new liability Ledger account, then go to Setup> Accounting>General Information and assign the new Ledger as the 2nd A/P Account.

    AP-AR 2nd Account

    To make entries to this new A/P Account first select the A/P account on the Input General screen before clicking to add A/P entry. 
AP-Select Credit Card Account

If you want any existing entries coded to this new A/P Account you will have to delete the original A/P entry and re-enter it. There is no way to journal individual unpaid A/P entries to this account and have A/P work properly.


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