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Re: Beg vs End Accounts

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October 15, 2015 03:07PM
Are you filing your Federal Taxes as Accrual or Cash Method? If Cash Method, when printing the Income statement select the Cash Report not the Accrual Report. This report will not include the beg. vs. ending accounts. I am not certain if the accounting manual explains why the beg. vs. ending accounts are important.

Doesn't matter if this is for a crop or supply the beg. vs ending accounts are used to balance when there is a change in the inventory values, which is for the Accrual Accounting only. The Livestock beg. vs ending account is used in Cash to generate the Cost of goods sold. The Crops will have Growing and harvested crop values. The Supply accounts will each their own beg. vs ending accounts. Example: When recording a harvest farming operation, FW will take a look at all the growing crop input costs from the Crop enterprise and assign an inventory value for the Asset Inventory Account which would be a Debit. To keep the GL in Balance it will place the Offset for same Value as a Credit to the Beg. Vs. Ending account for the same crop.

When you completed the Year End for 2013 any values for the crop in those beg. vs. ending accounts would go to zero. If selling a carry over crop from 2013 into 2014 it will reduce the Asset Inventory value as a credit to the harvested Crop and Debit the Beg. vs. Ending account for same value. Once again this is only on the Accrual side of the Accounting.

The Cash Income statement has a date range you can select. If you need to print the Accrual Income statement and end with 12-31-2014, change the Working Date by left clicking the Day in upper right hand corner. When the Working Date screen appears, change the Working date to 12-31-2014 and click OK. Now when printing the Accrual Income statement it will not look at any transaction posting past this date.

Hope this answers your questions.


Kathy Cline,
Trimble Ag Software Support
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Beg vs End Accounts

Becky NewellOctober 15, 2015 01:04PM

Re: Beg vs End Accounts

Kathy ClineOctober 15, 2015 03:07PM

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