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Re: Farming with Leased Equipment

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1. If you are set up as a corporation you will be able to enter amounts for Common Stock, Additional Paid in Capital and Retained Earnings. If you are set up as a Partnership you will split the equity between the owners. To switch between a corp and partnership go to the File menu and select Preferences and select Account Options.
2. With regards to inventories and other items being included in equity, this will only be true for your accrual books. Your Cash books will not include these in equity. For Cash books purposes, these amounts will be subtracted from Retained Earnings (for corporations) or proportionately from each owners' equity (for partnerships).
3. When you set up icons be sure to set up icons for all equipment that will be used on the farm. Be sure to not enter any cost or depreciation information for these icons. You can then apply expenses (such as repairs and fuel) to the icons. Be sure the icons are set up as Passive Enterprises. You can then use the icons in farming actions just like any other, and your costs (fuel, repairs, etc) will be passed on to the fields.

I hope this helps!

Scott Nusbaum CPA
Farm Works Software

Farming with Leased Equipment

Lyle February 18, 1997 12:00AM

Re: Farming with Leased Equipment

R. Scott Nusbaum - Farm Works Software February 18, 1997 12:00AM

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