Entering transactions that affect AgriStability reports

Once you’ve set up your data file to track information for AgriStability reporting, you can begin entering transactions. Detailed inventory account information is used to complete the AgriStablilty supplementary report. Income and expense account information is used to complete the AgriStability/T1163/TT1273 statement of farming activities.

You can enter transaction information that affects AgriStability reports through:

• Transaction Entry
• Point of Sale
• Inventory Adjustment

When entering an inventory adjustment for a detailed inventory account, specify the transaction type, grade and change in quantity. The transaction type specifies which column the quantity is added to on the AgriStability supplementary report and the grade specifies the row. 

The available grades vary depending on the AgriStability commodity associated with the inventory account. Use the listed transactions to track quantity for the following commodities : 

For crops and perishables:

• Starting Inventory - Adjusts the quantity of the opening inventory.
• Production - Adjusts the quantity produced. Use a negative quantity to indicate spoilage.
• Feed - Tracks decreases in quantity when the commodity is used to feed your livestock.
• Seed - Tracks decreases in quantity when the commodity is used as seed.
• Crop Share - (Alberta and Ontario only) Tracks decreases in quantity that reflect a landlord’s share.

For livestock:

• Starting Inventory - Adjusts the quantity of the opening inventory.
• Births - Tracks increases in quantity due to births.
• Deaths - Tracks decreases in quantity due to deaths.
• Transfer In - Tracks increases in quantity caused by transferring in another commodity.
• Transfer Out - Tracks decreases in quantity caused by transferring a commodity to another commodity.

For inputs:

• Use - Tracks decreases in quantity when the input is used during the operation of your business.

Note: If the transaction is used to track a decrease in quantity, you must enter the change in quantity as a negative amount.

Edit inventory details

When a transaction is posted to an inventory account, the transaction type and commodity grade are automatically recorded. If this information is incorrect, your AgriStability supplementary report will show a discrepancy.

Your inventory account may contain incorrect information if:

• the AgriStability commodity has changed
• you’ve posted a transaction to the account before it was set up to track detailed inventory
• you’ve posted a transaction to the account through general journal

To edit the type and grade for transactions posted to an inventory account:

1. Select an inventory account from the Inventory Adjustment or Detailed Inventory Manager dialogue box.
2. Click Edit Inventory Details. The Edit Inventory Details dialogue box appears, listing the transactions posted to the account.
3. If a transaction has an incorrect Type or Grade, click the arrow to select the correct one from a list. To view the original transaction, click View Original Transaction.  Note: You can’t change the Date, Audit Number, Description, Quantity and Amount fields. 
4. Click Save. 

Last updated on August 22, 2014 by FCC AgExpert