User Conference Deadlines and Schedule, Hedge Accounting Workshop, Uncleared and Unclaimed.
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 FarmSMART                                              July 2015

In this Issue:

User Conference Deadlines

Conference Schedule at a Glance

Hedge Accounting Workshop

August Free Webinars

Q&A:  Uncleared and Unclaimed

 

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Drones 'n 'Dusters--Duck!
Dear Friend, 
Our office is in the middle of the Midwest in the middle of a farm in the middle of the summer.  That means we get alternately buzzed by either a Phantom Quadcopter drone, an Air Tractor, or both!
We hope you've not just ducked this season's aerial strafing, but also the recent weather fit for ducks.
Transitioning to another type of "overhead," what's your strategy for monitoring and controlling your costs and margins as you skim over a rapidly-varying financial terrain?
You'll learn the latest proven strategies and tactics at the FBS User Conference--coming up in just a few weeks:
  • "Eleven Best Management Practices" keynote by Danny Klinefelter
  • Cost of production benchmarks with leading producers
  • Farm Journal's 2015 Top Producer's Top Secrets
  • Collaborating with consultants
  • New information technologies to streamline your workflow and communications
  • Breakout sessions that help you hone your accounting and management skills
  • Network with the best in the business!
Click here for to register and/or download the User Conference brochure.
Also in this month's FarmSmart:


                                                                                                         SDG



Deadlines Approach for FBS User Conference

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What’s your “secret formula?” Are you a low-cost producer, master marketer, technology innovatorequipment/human resource maestro, or financial wizard? If so, how do you know if you’re reaching your optimal potential in all of these critical jobs?

At the FBS User Conference you’ll be challenged by world-class experts to consider what’s theoretically possible even as you discover practical ideas from Farm Journal’s Top Producer along with fellow ag production executives who aren’t afraid to share their best business practices.

The FBS User Conference is a unique gathering of producers and independent consultants committed to helping you get to the bottom line and gain tighter control of your business.

So whether you are a current FBS User, are considering integrated software or consult with top producers we invite you to join your peers in Moline, Illinois, to unlock new power and possibilities.
The 2015 FBS Users Conference will be held September 2nd and 3rd at the River's Bend Conference Center in downtown Moline, Illinois.  You can now register online or call 800-437-7638 / Extension 2 (no service fees for direct phone orders).

Hurry!  Enroll by Friday, July 31, and save up to 50% on registration.

Make your hotel reservations at the Stoney Creek Inn (800.659.2220) by July 31 to ensure availability and rates.  Click here for a brochure or to register.


Conference Schedule at a Glance
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Danny Klinefelter Paul Neiffer Bernard Peterson Johnne Syverson
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John_McNutt
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Moe Russell John McNutt Jack Makowski Mike Boggs
Conference Speakers

 

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Wednesday, September 2

 9:00 am General Registration

 9:30 am  Attendee Idea Exchange

10:00 am  Eleven Best Management Practices 
                Danny Klinefelter, Texas A&M University
                The Executive Program for Agricultural Producers

12:00 pm Lunch

 1:00 pm  Low Cost Producers’ ”Secret Formula”
               John McNutt and Moe Russell

 1:45 pm “Virtual” Top Producer Farm Tour
               Bernard Peterson, Farm Journal Top Producer of the Year

 2:00 pm  Peterson Farms’ C.I.A.*
                Johnne Syverson, Transition Point Advisors
                Moe Russell, Russell Consulting Group
                John McNutt, LattaHarris
                Jack Makowski, Conservis

               * Central Intelligence Advisors

 3:15 pm  Break

 3:30 pm  Farm Financial Standards Update
               Paul Neiffer, CPA, CliftonLarsonAllen

 4:15 pm  Seamless Field-to-Financial Records
              Jack Makowski, Conservis

 6:00 pm Mississippi River Dinner Cruise

 

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Thursday, September 3

8:00 am Breakout Training Sessions

Track 1 Track 2
Controller’s Corner Panel Financial Statement Basics
Getting to the “Bottom Line” FBS and 3rd-Party Productivity Tools
Converting from Other Software LifeCycle Budgets

 

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Last year's "Controller's Corner" breakout session

12:00 pm Lunch

1:00 pm Breakouts Sessions Continue

 

Track 1 Track 2
Pork Cost of Production Benchmarks General Crop Reports
Web/Mobile-Based Reporting Trouble-Shooting A/P-A/R
Accounting Round Table One-On-One Custom Training

 

4:00 pm Adjourn

 


 

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Come Early for the Hedge Accounting Workshop
Agricultural producers who use commodity futures and options will have a unique opportunity to learn the best accounting practices at an intensive workshop held on Tuesday, September 1, 2015, one day prior to the FBS User Conference at the Stoney Creek Inn in Moline, Illinois.
Paul Neifer
Paul Neiffer, CPA.
 
Led by Farm Journal Top Producer's "FarmCPA," Paul Neiffer, CliftonLarsonAllen LLP, the session covers the fundamentals of accounting for hedges as documented in the 2014 edition of the Financial Guidelines for Agriculture as published by the Farm Financial Standards Council (FFSC). Neiffer also servers as the current president of the FFSC.
 
Participants will have the opportunity to work though realistic crop and livestock case studies developed by the FFSC Technical Committee using FBS software. Anyone within a farming operation who "touches" commodities--ag accountants, marketing specialists, controllers, CFOs and senior management--will benefit from this hands-on training.
 
Registration is $195 for the first person, $95 for additional company representative. Each student will receive a copy of the Financial Guidelines for Agriculture, a workbook,and FBS case study data sets.
For more information or to register for the Hedge Accounting Workshop call 800.437.7638 / extension 2 or click on this link.


 

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August Free Webinars

August  3:  How to use Accounting Detail reports
August 10: How to use Accounting Total reports
August 17: How to use A/P and A/R reports
August 24: Using printer setup and range buttons to print and export
August 31: No webinar (see you at the FBS User Conference)

All webinars run between 1:00 pm and 2:00 pm CDT.   

To register, e-mail support@fbssystems.com by 12:00 pm CDT on the day of the webinar.
NEW:  Catch up on the webinars you've missed by watching them on the Webinar page of our website.

Q&A of the Month: Uncleared and Unclaimed
Sarah_Dixon
Sarah Dixon, FBS Technical Services Manager

Q. My bank account balances properly in April, but on the first of May it is out of balance.   What’s happening?

A. FBS’s default look-back period for cleared check is four months, so May is usually when bank account issues relating to uncleared checks show up. 

 

Clear_Checks_and_Deposits

The first step is to go to Input>Clear Checks and Deposits and select for the prior 12 months and see if there are any uncleared checks going back beyond 4 months.  Clear any checks that should be cleared. If you find checks more than four  months old that are actually still uncleared reset the Cleared Look Back Months Preference to an adequate time period.

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The likely reason your check reconciliation is out of balance is that any uncleared checks or deposits prior to the look-back month are treated as voided and put back into the balance.

If an uncleared check is not the issue, then run a User Defined Report for undefined entry to see if a ledger account, center or division has been deleted or an entry is out of balance.

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