Creating a Farm Accounting ledger in MAS

To establish the livestock accounts on a client chart of accounts, perform the following steps:

1. Open System Services and go into a MAS ledger. The MAS ledger appears.

2. Follow the menu path: Setup > Client Files > Client Chart. The Client Chart screen appears.

3. Click the Transfer button and select the Range option. The Transfer From Master Chart by Range Dialogue box appears with the cursor in the From field.

4. Enter the appropriate range of accounts from the table below:

   Category	Profit and Loss	Balance Sheet
   Cattle	100 to 109	710
   Sheep	110 to 119	711
   Horses	120 to 129	712
   Pigs	130 to 139	713
   Other	140 to 149	714
   Other	150 to 159	715
   Other	160 to 169	716

5. Press Esc to return to the MAS ledger.

• All livestock accounts on the Master Chart of Accounts have a 2nd balance of Quantity to enable the recording of numbers of animals relating to a transaction. If you omit or incorrectly enter the quantity figures during data entry, the livestock trading profit or loss reports will not be accurate.

• The opening stock, closing stock and stock on hand accounts also have the required Special Use field applied to the Master Chart of Accounts.  It is important for the accuracy of calculations that this field is not changed from the standard setting.

To establish the opening stock quantities and values for each livestock category, perform the following steps:

1. Follow the menu path: Data Entry > Journals > Journal Entry. The Data Entry:Journals screen appears with the cursor in the Period end date field.

2. Select the period end date and click OK. The Journals screen appears.

3. Enter the following transaction with the balances appropriate to your opening livestock trading information at the beginning of trading.

   Opening stock accounts	Debit
   Bank or loan account	Credit

4. Exit and post the journal batch. The MAS ledger appears.

To establish the livestock categories on the livestock index, perform the following steps:

1. From the Modules menu, select Farm Accounting. The Livestock screen appears.

2. Click the New button. The Add Livestock screen appears with the cursor in the Code field.

3. Enter a code for the livestock category to be recognised by and press Enter. The cursor moves to the description field.

4. Type the description of the livestock category and press Enter. The cursor moves to the standard cost field.

5. Type the standard cost applicable for the livestock category and press Enter. The cursor moves to the Sales field under the Accounts heading.

6. Types the relevant charts of accounts codes for the descriptions displayed and click the OK button. A blank Add Livestock screen appears with the cursor in the Code field.

   

   Repeat steps 3 to 6 for each livestock category.

7. Press Esc. The Livestock screen appears listing all the new livestock categories.

To select the category to calculate, perform the following steps:

1. Position the cursor over the name of the category to be calculated and click the Toggle button. A tick appears next to the name of the category on the livestock listing.

   

   Repeat this step for each category which you require to be calculated or alternatively if all categories are required, click the Select All button.

To calculate the balances, perform the following steps:

1. Click the calculate button and select Balances. The Calculate Balances screen appears for the first category with the cursor in the Journal no field.

   

   The Holding gain option performs an isolated calculation and should only be performed when specifically required.  This is not common for Australian livestock accounting purposes.

2. Type the journal number as required to identify the journals posting to the MAS ledger and press Enter. The cursor moves to the Balance to: field.

3. Select either closing stock or natural increase and press Enter. The cursor moves to the xxxxx Stock no.s field where: the xxxxx relates to the type of balances you need to enter.

   

   If the closing stock numbers are known, the selection at the Balance to: field should be natural increase and the description of the next field displays as Closing Stock No.s. Similarly, if the natural increase numbers are known, the description of the next field displays as Natural Increase No.s.

4. Click OK. If subsequent categories have been selected, a blank Calculate Balances screen appears for the next category with the cursor in the Journal no field. When balances for all selected categories have been entered the calculation routine runs and the Livestock screen appears.

5. Repeat steps 2 to 4 for each livestock category selected.

   

   It is important that when you proceed with the calculate balances routine in a MAS ledger, you should not post any manual transactions to the livestock opening or closing stock or stock on hand accounts.

Selected Cost

You print this report once the automatic calculation routine has been performed.

1. Click the Report button and select Select Cost. The Output Selection screen appears.

2. Select Screen or Printer, and click the OK Button. The report prints to the selected destination.

Market Value

You print this report when the automatic calculation routine has not been performed and you enter manual transactions to record the period end closing stock and stock on hand quantities and values

1. Click the Report button and select Market Value. The Output Selection screen appears.

2. Select Screen or Printer, and click the OK Button. The report prints to the selected destination.

Financial Reports

There is also a report available in Reporter to show the livestock quantities and values.  This report includes a Profit and Loss report specifically designed for a MAS ledger with a major income of primary production.

Detailed livestock and farm income statements.

1. Follow the menu path: Reports > Reporter > Generate Reports. The Reporter window opens.

2. Select the report Detailed Livestock and Farm Income Statements and click Preview. The reports appear on the screen.