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accrual records for production, cash basis for finance

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December 30, 1997 12:00AM
Since I am setting up FarmWorks at the end of this year I do not want to have to perform all the farming operations for 1997. I just want to enter my inventory of stored crops and my sales of the 1997 crop (some is sold in 97 some is sold in 98, some is saved for seed, etc.) I want to keep detailed records of the loads we haul and sell both for quantity and for quality. I want to keep good production and marketing records for our landlords. (They have no expenses).I also want to put in the winter wheat planted fall of 97 which will be harvested in 1998. I want to be all set up to start 1998 out right with FarmWorks. You said it at the class when you said we can keep financial records on a cash basis but production records on an accrual basis. That is what I want to do. I am confused as to how to accomplish this. Do I start a new project for 1998 for Farm Funds? Do I start a new project for 98 crop? Are these separate projects?
What part of the tutorial do you recommend I read to help me understand this? What is the minimum I have to have set up to do 97 production records? Do I have to do some kind of end of the year archiving when I am not even fully set up yet?
SubjectAuthorPosted

accrual records for production, cash basis for finance

Kathy December 30, 1997 12:00AM

accrual records for production, cash basis for finance

R. Scott Nusbaum December 31, 1997 12:00AM



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