Top 10 things you can do to prepare for year-end

Top 10 things you can do to prepare for year-end

Whether you’re an early bird or a procrastinator, we all need to do the same things for year-end, so why wait? Here’s a list of things you can do now to make the annual process easier.

1. Reconcile all of your accounts.
   • Not just bank accounts – loans, co-operative equity, investments, accounts payable – everything should balance.
   • Be able to back up each number with proof.
2. Make sure you have a copy of all year-end statements.
   • Bank accounts and credit cards.
   • Vendor statements.
   • Loan statements.
   • Ties in with reconciling – if you reconcile an account, you should have the statement to prove the balance.
3. Prepare an inventory list for the end of your fiscal year.
   • Quantity in the bin, head that you currently own.
   • Inventory still in the field does not count.
   • Make sure estimates are reasonable.
4. Have all receipts available for all capital asset transactions.
   • Both purchases and sales need to be available.
   • Will assist the accountant in making sure CCA is calculated correctly.
5. Enter all of your deferrals.
   • Assists in making sure current inventory is correct.
   • Required for AgriStability.
6. Review your income tax account for accuracy.
   • Check your books to make sure that all transactions are entered.
   • Balance to what CRA says has been paid or is outstanding – check My Account on the CRA website to reconcile.
7. Make sure you’re compliant.
   • Has all payroll been entered & payroll remittances been made?
   • Is your GST/HST up to date?
   • Is there any provincial tax filings required?
   • Did you miss any tax installment payments?
8. Make sure all prior year adjustments have been entered.
   • Will ensure that all accounts are starting in a good position.
   • No sense in paying your accountant to do the same work twice.
9. Backup your data.
   • If you run a computerized system of books, regular backups are required to ensure your data remains intact.
   • If you run a paper set of books, find a way to duplicate and keep it as safe as possible.
10. Don’t wait to the last minute.
    • Year-end is stressful enough, completing your work early will ensure enough time to file your tax return and complete your financial statements.
    • Your accountant may not be able to remain compliant on your file if you do not give them enough time to complete the work.

Questions? Get answers about our software and share your comments with other software users on our Discussion Boards or search the Knowledge Base. Plus, our FCC Management Software support staff is always just a click away.

Download your software update in two easy steps

Download your software update in two easy steps

If you’re looking for the easiest way to install your new software updates, you can do it online. It’s a new option this year and something a lot of you have asked for: a safe, fast and easy way to update your AgExpert Analyst or Field Manager PRO.

If the computer running your software is connected to the web, here’s what you need to do:

1. Simply close out of the software.
2. Run the install using the download link that was sent to you via email. That’s it.

It doesn’t get easier than that. You’ll be using the most up to date version of our software in no time.

Some people choose to have their computer offline, and that’s ok. It just adds an extra step to updating process.

1. You need access to a computer with an Internet connection and a memory stick.
2. Using your email with the imbedded software update link, open and download the updated file to your memory stick.
3. Take that memory stick and download the update to the computer you use for your AgExpert Analyst or Field Manager PRO software (the one not connected to the Internet).

Need to learn more about this process? Read this article for more details.

Buying a new computer?

Before you run out to get that new computer, here are some things you’ll need to keep in mind when running our software. 

Questions? Get answers and share your comments with other software users on our Discussion Boards or search the Knowledge Base. Plus, our FCC Management Software support staff is always just a click away.

The evolution continues with AgExpert Analyst 2015

The evolution continues with AgExpert Analyst 2015

Change is inevitable. Just look at the weather outside or read a news headline. Luckily, change can be a good thing, and in the case of AgExpert Analyst 2015, it’s very good. Outstanding, in fact.

AgExpert Analyst 2015 is rolling out and we’re giving you a sneak peek at just some of the changes you can expect:

Budget tool overhaul

We’ve overhauled the look and feel of the budgeting tool in AgExpert Analyst. You’ll find it more intuitive and easier to use, based on industry best practices and customer recommendations.

Reports

Now you can add a customizable footer to your reports, including your company name and logo.

Transaction

You can look forward to faster transaction entries. When you’re changing the transaction type on an existing transaction, the header portion will not clear itself. This allows you to continue without having to restart each time. However, the details section will continue to clear if you change the transaction type.

Upgrade to AgExpert Analyst 2015

To upgrade to AgExpert Analyst 2015, make sure that you close out of AgExpert Analyst. But what if you’re running an old version? You’ll need to upgrade to 2012-04 or 2012-05. Learn more about converting from an older version here. 

Watch for more features and enhancements to come. We’ll post another blog at the release of the new version.

Questions? Get answers and share your comments with other software users on our Discussion Boards or search the Knowledge Base. Plus, our FCC Management Software support staff is always just a click away.

Who wants an easier year-end process?

Who wants an easier year-end process?

If you said “no”, then carry on with your day. For the rest of the world who wants a simplified year-end process – read on. 

With AgExpert Analyst, year-end is easier than ever. And next fiscal year is just a couple clicks away.

• No more dealing with different year-end modes 
• Most data files restrictions have been lifted from the Accountant’s copy.

Starting the Year-End Process

Go the Setup menu and Click on Fiscal Years. Then click on the Add Fiscal Year button. To find out more, read the Managing Year-end article. 

Creating the Accountant’s copy

Once the Fiscal year has been created, you’ll need to create the Accountant’s copy from the file Menu. 

Your accountant must have access to the Accountant’s copy of AgExpert Analyst. They’re not a current user of AgExpert Analyst? Get them to call our sales team at 1-800-667-7893. They can become an Exclusive Plus member or an AgExpert Analyst Certified Adviser to gain access to the AgExpert Analyst Accountant’s copy.

Why would your accountant want access to AgExpert Analyst?

In a word, convenience. While the file is with the accountant, you can continue working on your set of books. Your accountant can make changes to the previous year while you’ll be able to continue on with your new fiscal year.

Once you get the file back from your accountant, you’ll need to import the file back into AgExpert Analyst by going to File, Import Accountant’s copy.

What If your accountant gives you the year-end adjustments to do yourself?

Undo the Accountant’s copy from the File Menu and change the fiscal year back to the prior year. Then you can enter the adjustments. Once that’s complete, simply change the fiscal year back to the current year and continue on with the data entry. 

This new Fiscal Year Management lets you go back and forth between years simply by changing the fiscal year in the Setup Menu.

Looking for more tips on using AgExpert Analyst? Check out these links:

Recording a Capital Cost Allowance

General Journal Entries

Import Client's copy (for accountants)

Export Client's copy (for accountants)

Questions? Get answers and share your comments with other software users on our Discussion Boards or search the Knowledge Base. Plus you can always contact our FCC Management Software support staff.

Accounting is easy with the right software

Accounting is easy with the right software

Computers are your friend. A bold statement for some, but it’s true. When it comes to bookkeeping, accounting software like AgExpert Analyst makes everything easier. It removes all the road blocks:

• I’m not an accountant and don’t understand debits and credits
• I’m not very good with computers
• I don’t have the time

Setup is easy. By entering basic information, the software lets you create professional reports that make you a more efficient business manager. It’s a DIY dream.

As you enter more information, the more you get back. You’ll learn how to create detailed reports including Income & Expense, Balance sheet, Loan report, GST return, Benchmarking, and AgriStability.

What if you get stuck and don’t know what to do? You’re never alone. There are lots of resources ready to help:

• reference manuals
• step-by-step tutorial videos
• classroom training
• online support communities with searchable Knowledge Bases, Discussion Boards and blogs
• friends, neighbours or accounting professionals that use the software that often live and work near your community
• software experts like our AgExpert Analyst Certified Advisors (ACA)
• Product Support Analysts are always just a phone call, discussion board thread or email away 

Learn more with this webinar, featuring Steven Tippe, Product Support Analyst, from the FCC Management Software team.

Questions? Get answers and share your comments with other software users on our Discussion Boards or search the Knowledge Base. Plus you can always contact our FCC Management Software support staff.

Want to make better decisions? Start with better record-keeping.

Want to make better decisions? Start with better record-keeping.

Like most producers, finding new ways to improve your margin is at the top of your to-do list. Where do you begin? Start with your books – and better record-keeping. 

Ask any accountant and you’ll find that your financial statements can reveal the strengths and weaknesses of your operation. But those reports are only as good as the records you keep. To get an accurate picture of your business, sharpen your record keeping habits: 

• organize financial information
• capture data when it’s fresh
• file records promptly
• use financial management software

As long as you capture data when it’s fresh, you’ll be able to generate accurate Operational reports like Income and Expense, CCA Schedule, Loan report, Inventory report, and Operational Benchmarking reports.

These reports will help you make better decisions, leading to time savings, quicker access to information, more efficiency, and:

• sense of direction
• peace of mind
• cost savings
• personal validation
• positive business relationships

Learn more with this webinar featuring Karen Wright from KDW Consulting Services Inc.

Questions? Get answers and share your comments with other software users on our Discussion Boards or search the Knowledge Base. Plus, our FCC Management Software support staff is always just a click away.

File your T4 slips by the end of February

File your T4 slips by the end of February 

In case you haven’t noticed, the deadline for filing your taxes is fast approaching. And like brushing your teeth, filing taxes isn’t exactly enjoyable but you feel pretty good after you’re finished.

So with that in mind, let’s take a quick look at some points from the Canada Revenue Agency website:

• Payroll employers must file their T4 information return no later than the last day of February following the calendar year to which the information return applies.
• CRA considers a return to be filed on the day they received it or the day it is postmarked, whichever is earlier.
• If the due date falls on a Saturday, a Sunday, or a public holiday, it is due on the next business day. If you fail to file it on time, CRA may assess a penalty.
• If you have more than one payroll account, you will have to file a separate information return for each account.
• If you need to file early due to bankruptcy or if your business stops operating, you are required to file within 30 days of the day your business ends.
• If the owner of a business dies, the T4 slips and T4 Summary have to be filed within 90 days of the death.
• If you file more than 50 T4 slips in a calendar year, you must file the return over the Internet.
• For more information, go to Filing Information Returns Electronically (T4/T5 and other types of returns).

What goes up must come down. The sun always rises in the east. And like other sure things, your taxes need to be filed, so get on it before it’s too late.

Questions? Get answers and share your comments with other software users on our Discussion Boards or search the Knowledge Base. Plus you can always contact us.

Start planning for year-end now

Start planning for year-end now

If the thought of year-end stresses you out, waiting until the last minute isn’t going to help. With the right tools, a bit of planning and knowing what to watch for, year-end can be a smooth, money-saving process.

Knowing the personal and corporate rules about tax brackets and rates is a good start. But this can be challenging since the rules are often tweaked every year. Talking with your accountant can set you straight.

Recently, Lance Stockbrugger, who happens to be a farmer and Chartered Accountant, presented a webinar outlining tips to remember when getting ready for year-end. In addition to the importance of early planning and knowing the rules, he discusses:

• medical expenses
• donations
• old age security
• capital gains and exemptions
• what to consider when it comes to incorporating

Another part of a better year-end experience is remembering important deadlines. The last thing you want is to miss any opportunities, or worse, get penalized for late fees on: 

• charitable and political donations
• salary/dividends declared from corporation
• RRSP contributions
• tax slip filing
• corporate tax returns
• AgriStability/AgriInvest

This is just scratching the surface. To learn more, watch this, featuring Lance. It’s the first step to what could be a better year-end.

Questions? Get answers and share your comments with other software users on our Discussion Boards or search the Knowledge Base. Plus you can always contact us.

New and improved by you – AgExpert Analyst 2013

New and improved by you – AgExpert Analyst 2013

Want an accurate picture of your business? Simpler meetings with accountants? AgExpert Analyst 2013 is the best version we’ve released – try it and see for yourself.

Start your software conversion

Get started by upgrading to the latest update of AgExpert Analyst 2012-04 or 2012-05. Be sure your data file is in normal mode before importing to AgExpert Analyst 2013. Why? The 2012-04 or 2012-05 upgrades were created to detect any defects that might cause failure in the new software import. You’ll get a conversion report that will list the corrections you need to fix to ensure your 2013 version works properly.

Better year-end management

Instead of creating a new data file for a specific year, the 2013 version creates a new year in the data file. In previous versions of AgExpert Analyst, you had to go through the year-end process to finalize or partially finalize the previous year just to continue on with the next fiscal year. Now, you can add a new fiscal year with two simple clicks.

Happy accountant, happy life

We’ve simplified the way you submit files to your accountant – now you can create an accountant’s copy and a copy for yourself. This way, you work on one version while your accountant can make adjustments to another. Once finished, your accountant sends back the file and you can import into yours. The adjustment and year-end process has never been easier.

Change the date of your transactions

Here’s a big improvement – transactions can now be back-dated and post-dated to any fiscal year that exists in the database. Before, you were limited to the fiscal year when it came to entering transactions. Now as long as the fiscal year has been created, you can postdate or backdate the transaction, making payroll and entries for the next year, even though you are not done working on your file, simple.

Join our online community for 24-7 support

Register with our online community and access searchable discussions, blogs and the Knowledge Base, any time. Check often for important messages and updates, including how to solve common support problems, and connect with other software users.

Connect with support staff

Our support staff can provide remote assistance to clients on their computers. This will make troubleshooting issues faster and more efficient. Learn more about connecting with support.

Want to see more features and enhancements?

AgExpert Analyst 2013 is by far the best version we’ve released. Some may call it a game changer – you decide. Check out more features and upgrades right here. 

Questions or comments? Please post them below.