Farm and Ranch

FARM AND RANCH


Farm & Ranch provides you with the ability to define an agricultural enterprise, establishing it as the focal point forgathering all information about a specific agricultural activity, such as the 1994 wheat crop, 1993 corn crop, etc. An enterprise is usually a subdivision of a TRMS property, which may contain one or more agricultural enterprises.

The enterprise remains active for the life of the activity, from buying seed and fertilizer through harvesting and eventual sale of the crop. This allows all revenues and expenses associated with the enterprise to be captured for reporting purposes. All revenues and expenses booked to the enterprise are automatically split among all owning trust accounts.

Asset Management

  • Allows for enterprise identification, description, and location.
  • Links enterprise back to a particular property and identifies tenant.
  • Life span of the enterprise can be tracked with beginning, ending, and closing dates (marking the termination of the enterprise).
  • Cash leases and crop shares can be tracked.
  • Detailed comments on the enterprise may be maintained.
  • Allows you to track inventories including the total amount, date of last transaction, current inventory balance on hand.
  • An optional flag indicates that all or a portion of the inventory at that location is currently being used as the basis for an open contract.
  • The Options/Futures/Contracts function displays contract type, market or buyer of contract, associated inventory location code, due date, price and volume.
  • The system also displays transaction detail such as type, identifying information, date, amount, and inventory balance on hand after a transaction has been applied.
  • Inventory transaction histories are automatically updated as inventory transactions are entered.
  • Crop inquiry program allows farm managers to display the inventory for one or more crops by state, county, management office, trust, or any combination of these.

Revenue Processing

  • Deficiency payment information can be stored in the system.
  • Optional value of enterprise can be used to calculate return on investment in place of carrying value.
  • Expenses can be booked to both property and enterprise.
  • Can select all invoices for a specific vendor or a specific G/L account code.

Reporting

  • Detail transaction information.
  • Profit and loss type summary report.
  • Allows gross-up yield calculations to 100% amounts for reporting purposes.

Optional/Future Feature

  • Allows entry of cash receipt and inventory transactions in one step.
  • Allows sales transactions to be linked to a forward sales contract.
  • Calculation and reporting of any amounts, due to or owned by, the enterprise due to the final determination of the actual average price for deficiency payments.
  • Addition of the Options/Futures/Contracts entry screen to the crop inventory program.