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Re: Resale Livestock Inventory on Balance Sheet

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January 31, 2017 10:29AM
Try doing this.

1. Go to Accounting -Inventory Maintenance-Adjust Livestock.
2. Click the magnifying glass button for one of these Hog groups.
3. Change the Total Purchase Cost amount to Zero.
4. Enter the oldest date available, which I believe should be 01-01-2016
5. Click OK

If you see this posting to the Beg. vs Ending for 2016 you can enter a journal entry to remove from this account and offset to your Equity. Here are those steps if need be.

1. Go to Accounting - GL -Input Journal Entry.
2. Enter same date as used in the Livestock adjustment and enter a memo description for this transaction.
3. Enter the dollar amount that would remove all adjustment postings to the Beg. vs. End Livestock account to make the 2016 balance be correct.
4. Highlight the correct Beg. vs ending account.
5. Click Debit or Credit, depending if the the Beg. vs Ending amount needs to add an amount or reduce the amount from this account.
6. Enter the same dollar amount from step 3.
7. Scroll to the Equity section and highlight the correct Corresponding Equity - Owner name account (remember if you have a partnership, then you would need the correct percentage for each owner. If books are setup as a Corporation, use the Retained Earnings - Unappropriated. Click the opposite button as used in step 5.
8. Click Record and Done.

Thanks,

Kathy Cline,
Farm Works Software
SubjectAuthorPosted

Resale Livestock Inventory on Balance Sheet

Rodney MarquardtJanuary 29, 2017 01:39PM

Re: Resale Livestock Inventory on Balance Sheet

Rodney MarquardtJanuary 29, 2017 02:59PM

Re: Resale Livestock Inventory on Balance Sheet

KathyClineJanuary 30, 2017 08:03AM

Re: Resale Livestock Inventory on Balance Sheet

Rodney MarquardtJanuary 30, 2017 01:36PM

Re: Resale Livestock Inventory on Balance Sheet

KathyClineJanuary 30, 2017 01:52PM

Re: Resale Livestock Inventory on Balance Sheet

Rodney MarquardtJanuary 30, 2017 09:17PM

Re: Resale Livestock Inventory on Balance Sheet

vickyLangenbergFebruary 06, 2017 07:55PM

Re: Resale Livestock Inventory on Balance Sheet

KathyClineFebruary 07, 2017 07:31PM

Re: Resale Livestock Inventory on Balance Sheet

vickyLangenbergFebruary 09, 2017 12:12PM

Re: Resale Livestock Inventory on Balance Sheet

KathyClineFebruary 10, 2017 08:03AM

Re: Resale Livestock Inventory on Balance Sheet

vickyLangenbergFebruary 10, 2017 09:11AM

Re: Resale Livestock Inventory on Balance Sheet

KathyClineJanuary 31, 2017 10:29AM

Re: Resale Livestock Inventory on Balance Sheet

Mitch KonenFebruary 08, 2017 12:07AM

Re: Resale Livestock Inventory on Balance Sheet

KathyClineFebruary 08, 2017 11:04AM

Re: Resale Livestock Inventory on Balance Sheet

Mitch KonenFebruary 08, 2017 12:44PM



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