These three schedules will take the bulk of your set up time; use them to establish your non-direct expenses in the Overhead Plan, your non-farming revenue in the Other Revenue Plan, and your non-farming expenses in the Owner Expense Plan.
Note that, while we recommend at least having an Overhead Plan, it is not required to create all three. If you don’t have meaningful data to add for an Other Revenue Plan, you can skip it.
You can share any of these Schedules by clicking the click on the export button; you can export either to Excel or PDF.
Create an Overhead Plan to capture all operation-related, non-direct expenses, which will be allocated over all fields on an acre prorated basis. Common non-direct expenses could include equipment costs, electricity, and payroll. [Coming Soon: the ability to allocate Overheads by field or crop.]
Best Practice: As a shortcut, upload a P&L / Income Statement from a previous year, then make revisions for the upcoming year.
FINANCIALS > SCHEDULES > Overheads: Plan (or Actual)
Click Add New Overhead Plan button (or Copy From an existing plan).
Enter the name, then select the Crop Year and Budget Start date.
Click Add New Overhead.
Select the Category from the drop down menu (or Add New Category).
Enter the annual Total $ and select the Allocation Method, which will populate the monthly amounts accordingly.
After all Categories have been added and allocated, click Create.
Create an Other Revenue Plan to capture your planned non-crop related revenue (ex. Seed Sales or Custom Farming.)
Best Practice: As a shortcut, upload a P&L / Income Statement from a previous year, then make revisions.
FINANCIALS > SCHEDULES > Other Revenue: Plan (or Actual)
Click Add New Plan button (or Copy From an existing plan).
Enter the name, then select the Crop Year and Plan Start date.
Click Add New Other Revenue.
Select the Category from the drop down menu (or Add New Category).
Enter the annual Total $ and select the Allocation Method, which will populate the monthly amounts accordingly.
After all Categories have been added and allocated, click Create.
Create Owner Expense Plan to capture all non-farm related expenses (ex. College tuition, home mortgage, etc).
Best Practice: As a shortcut, upload a P&L / Income Statement from a previous year, then make revisions.
FINANCIALS > SCHEDULES > Owner Expense: Plan (or Actual)
Click Add New Plan button (or Copy From an existing plan).
Enter the name, then select the Crop Year and Plan Start date.
Click Add New Owner Expense.
Select the Category from the drop down menu (or Add New Category).
Enter the annual Total $ and select the Allocation Method, which will populate the monthly amounts accordingly.
After all Categories have been added and allocated, click Create.