News Office Field Order Support Contact Us

Re: Cattle downpayments

Search Discussion Boards
December 04, 2015 07:49AM
I recommend to place this down payment amount into an Other Asset Holding account. Here are the steps to follow:

1. Go to the Record Payment/Purchase.
2. Select correct Vendor, enter date of check and memo description.
3. From the Items Purchased section, click on the Other Asset (STOCK) button.
4. Select New (for the first time). Type a description such as Cattle Down Payment.
5. Select Current Asset.
6. Enter dollar amount of payment.
7. Leave the offset to NONE. Click OK.
8. Write the Check. Click Record and Done.

When making final payment follow these steps.

1. Go to the Record Payment/Purchase.
2. Select correct Vendor, enter date of check and memo description.
3. Click on the Livestock purchase button. Select up the Group and cost etc. Make sure the dollar amount is for the complete purchase including the Down Payment amount. Click OK.
4. Then select the Other Asset button. From the drop down list, select the Cattle Down Payment account and enter a negative dollar matching the previous balance. Ending balance should be zero unless making multiple down payments into one account for different livestock groups. Click OK.
5. The Total Purchase will then be the amount needed for the final payment. Complete the Check process.
6. Record and Done.

Hope this helps!

Thanks,

Kathy Cline,
Farm Works Software
SubjectAuthorPosted

Cattle downpayments

Mary Paul WilliamsDecember 03, 2015 06:09PM

Re: Cattle downpayments

KathyClineDecember 04, 2015 07:49AM

Re: Cattle downpayments

Mary Paul WilliamsDecember 04, 2015 10:37AM



Sorry, only registered users may post in this forum.

Click here to login

Privacy Statement | Terms of Use | Copyright 2009, Trimble Navigation Limited