Create Land costs to capture all your land agreements in one spot. The costs will be
tied to your actual fields and pull through to financial reports accordingly.
To create Land Costs:
FINANCIALS > ORGANIZERS > Land Costs
Click New Land Agreement button and select Cash Rent.
Enter the name
Select (or create) Land Owner
Select (or create) Category. Land Agreements can be set up as a direct expense, indirect expense, debt service, ownership expense or other revenue.
Tip: The most common is to set up as a direct expense. You can also create multiple direct expense categories for land costs. (Example: rented vs owned ground.)
Lease Details:
Select Payment Rate based on how you want the rate to be applied.
If “Same rate for all”, enter in the Rate (per Acre) amount.
If “Lease Total”, enter in the Lease Total. (Otherwise, that will calculate based on the fields you add to the Land Agreement multiplied by the entered Rate (per Acre).
Lease Status: Select either Written or Verbal.
Click on the plus sign in the Fields box.
Search for the relevant fields for this Land agreement, then check the box next to the field name and update Contract Acres, if applicable.
Fields can be split between multiple Land Agreements.
The Contracted Acres is the value that will be multiplied by rate (per acre) to determine the Lease Total.
If “Different rate for all”, you can adjust rate within this screen, per selected field.
Contract Acres will populate based on the fields selected.
Field Acres will populate based on the fields selected.
Payment Details:
Enter the Origination Date.
Enter the Term (in Months).
Select the Payment Month(s). This will affect when the Plan and Actual costs will be due.
Enter 1st Payment Date is due
Enter the First Crop Year that this cost should be paid.
Click Continue button to create the payment schedule. (If editing an existing land agreement, you will see a link to click to refresh an existing planned schedule.)
Review Schedule for accuracy, specifically that the total payments are correct for the identified date and crop year. This will impact Financial Reports.
Add Attachments, if applicable. (Possibly add in a picture of the written Land Agreement.)
Click Create.
If any edits are made after the schedule has been created, click "Refresh to view updates"
Budget Assignments: Shows only after creation and if tied to budget(s).