Dear Friend,

"California Wood Fired" Sunrise.

Between the West Coast smoke and the derecho devastation, 2020 has been a remarkable year--not counting all the other stuff that's in the news. We hope you enjoyed the "Hollywood" sunrises and sunsets (hopefully, over standing crops!).  

This month we'll be beginning to share videos from this year's "virtual" FBS/MASA Ag Software Success Summit and other news and tips:

• Over the past few weeks we've been sending complete video links to Ag Software Success Summit sessions to all 2020 Summit registered attendees.

• Beginning in this issue of FarmSmart we'll share the first two Summit sessions with FarmSmart subscribers.
  
  
• If you missed the Summit, but would like access to the full videos contact the FBS Sales Department at 800.437.7638.

Click here to view Dick Wittman's full presentation, which covers:

• Major benefits from management accounting
• How do we implement managerial reporting?
• The six core concepts of management accounting
• How has machinery cost inflation affected my cost of production?
• What is transfer pricing
• The integration challenge
• The ten pitfalls of benchmarking
• Why is cost management the "land of opportunity?"
• What carrot motivates implementation of management accounting?
• What critical information do you gain from activity-based costing?
• How does management accounting change marketing behaviors?
• What are the building blocks of management accounting implementation?

• Inter-company transactions and consolidations (Joe Dykhuis, Dean Dozeman, Dkyhuis Farms).

• Activity costing using S1/S2/N1 machinery/activity allocations (Randy Gangwish and Daryl Ellis, Gangwish Seed Farms).
  
  
• Using CropZilla for farm equipment capital budgeting (Brian Watkins, Watkins Farms).

The September 2020 issue of Progressive Farmer featured southwest Ohio's Bryant Agricultural Enterprise in the farm transition story, "In Family We Trust."   Cousins Heath Bryant and Kasey Bamberger (pictured here) are taking over day-to-day management of the 19,000 acre southwest Ohio farm from their fathers, Mark and Mike Bryant.  

Q&A: Preparing FBS for Harvest
Q. Harvest is starting up.  Is there anything I need to do in FBS to get ready for recording harvest?	Sarah Dixon, FBS Support Coordinator
A. There are a couple of things you want to do to make sure you are ready to go:     Run a Crop Inventory Report, recapped by Center/Project to make sure that your "old crop" Marketing inventory numbers are all correct. If the inventory is not correct review your past harvest and sales entries to verify they are correct and correct anything that needs fixed. In this example ending CORN 2019 Marketing is off by only 1.1 bushels while SOYBEANS 2019 Marketing shows a negative 5,617.32 bushels (due to bushels being entered twice with delivery of a basis contract). Once you've verified or corrected your harvest and sale entries then you can zero out the remaining inventory by going to Input>General>Crops>General Input>Adjust Crop Inventory.  In the example of reducing 1.1 bushels of corn we chose 8/31/20 because it was the end of the crop year and selected  Decrease in the Inc/Dec column. Finally, make sure you have set up your 2020 Marketing Centers and Projects. NOTE:  Because of normal shrinkage and measuring errors there will always be inventory variances that will need adjusting at the end of a crop marketing year.  Have a happy and safe harvest!