1 Reply by pcnuts

(21 replies, posted in Items and Inventory)

The above example with livestock is very similar to a grain sale.  You might have corn, wheat, oats, etc., each item grown(manufactured).  The buyer and you settle on a price per bushel.  Then there are deductions for drying, shrinkage, ethanol tax, wheat tax, etc  depending on the grain and quality/condition.  There needs to be items on the invoice to account for the deductions on the total invoice amount.  So that when you run reports  you know what the price each bushel (item) was sold for and also by putting in deductions in the same GL account you can know what net price you received per bushel for the total amount(bushels) of each  item for the time frame of the report.

In agriculture sales the big difference is you can sell a (grown) item for a different price to different buyers and have different deductions all changing by the minute.  That would be like selling widgets @ $1.23 to Fred at 0800, widgets @ $1.32 to Ernie at 0830, and same item -widgets @ $1.18 to Gladys at 0830 then calculating a drying charge on Fred's widgets of $50.00 making them $1.2145 each, and a weight discount to Gladys making them $1.1643 each.  You can't change the number sold because you have to account for the amount in your inventory, so you need to back calculate the price per item.  Seems like it would be much easier just to have a deduction line on the invoice and let the program keep track instead of just a memo line.

And yes I already do this by adding a negative cost item(discount or deduction) to the invoice, but of course the program dislikes this by warning of a price below cost, etc.

So again I ask:  What is the best way in this program to have a line item on an invoice to account for a charge/fee/deduction and still follow accounting rules and have accurate accounting?  Thanks

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2 Reply by pcnuts

(21 replies, posted in Items and Inventory)

You really dont understand.  For example I sell 5 steers_sold @ 198.00 per hundred weighing 500 # each, 6 heifers_sold @ 145.00 per hundred weighing 550 # each, etc all inventory items grown/raised (manufactured) on the invoice.  I need to track each item sold heifers, steers, bulls, cows separately all at different weights and prices.  You suggest I  hand calculate to allocate to each item a part of a hay/yardage bill, vet bill, promotion charge, etc by altering(back calculating the price per hundred) to match the total deductions.  So the item price is meaningless.

That would be like sending out an invoice to a customer with each item you sell at a different price; widgets, do-hickeys, etc and charging the customer shipping, handling, etc by back calculating the price of each of those items X(times) the number of items to get a correct net invoice amount.  What's the whole point of this program if you have to adjust items for deductions by spending countless hours trying to get an item cost to come out correctly to compensate for those deductions?

If this is how we are to do this lets us fill in the total price of the line item on the invoice and have it back calculate the price per item.  By the way Quickbooks has allowed users to do this for over 20 years.  And you can also add a negative charge or a deduction on another line of the invoice and track those.

Again thanks for your time.

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3 Reply by pcnuts

(21 replies, posted in Items and Inventory)

Sorry, didn't make clear my question.  What item, a discount, a negative charge, etc would I need to create on the sales invoice to make it calculate the net proceeds but still track the expenses?
I want to know what the selling price was and also what the commission, vet checking, and yardage were.
Thank you for the earlier response.

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4 Reply by pcnuts

(21 replies, posted in Items and Inventory)

Ok so I Manufacture cattle or beef.  So when I sell a steer through a sale barn or commission house I have an item "Steers_sold".  Then the commission house charges a fee for the commission, vet checking, yardage, etc off of the sale and sends me a check for the net amount.  What item( a discount, a negative charge item, etc) do I need to create on the sales invoice so the invoice they pay is correct with the net amount from the proceeds of the sale not just the gross sale amount.  The amount owed the commission house is not a separate check to the commission house.  It is a discount or charge off of the sales invoice because it happens at the same time for each "item" sold and I only want to show the net sale amount in the Livestock Sold account and item Steers_sold.

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5 Reply by pcnuts

(21 replies, posted in Items and Inventory)

ok most of these posts are old,  hope someone can still answer the question,

How can I add an item type other than purchased, manufactured or service?

I am a farmer who both manufactures pieces of equipment and "grows" crops and livestock, two totally different operations.
Whereas you can take  4 bolts, a sheet of metal, cutting, welding, and bolting together and you manufacture a product.
But when you grow something, a crop for example, you take seed, fertilizer, water, you then plant, weed, fertilize, and harvest and viola you have maybe 200, or 100, or maybe if you have a bad year 0 bushels of product.  Tax consequences are totally different too.  If you consider livestock as an item they can be purchased or grown which may take multiple years and tax consequences and sales are totally different than a manufactured item.
It would be great to add an item type "grown"
Thanks for consideration

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