Precision Point Blog

Simple Income and Expense Entries

by Isaac Bowers on June, 25 2013 in SMS™ Software

Well, it’s been an interesting spring needless to say.  Trying to find good dry weekends to head back to my parent’s farm to help was a struggle.  Felt like I was stuck somewhere between cringing when I heard the word ‘rain’, and biting my tongue for fear that it would turn off dry on us this summer and just being thankful that we had moisture whenever the crop did make it in the ground.

As you finish up with spring field work, now would be a good time to read your data into your precision ag desktop software and start doing some record keeping.  In SMS Basic/Advanced, you have the ability to assign income and expense entries that can be used for printing financial tracking reports and making maps of where your expenses went.

With your application data, you will see how your input expenses went up and down depending on the cost of the products that you planted/applied and the rate at which it was applied.  This information is especially helpful if you planted multiple hybrids/varieties in the same field or do any sort of variable rate application. 


To learn more about entering simple income and expenses, please watch the video below.

 

If you didn’t have a precision ag display in your tractor cab this spring to log all of your field work, you could create Crop Plans to keep track of what was done where.

Once you are done with harvest this fall, you can repeat this process with your harvest data and find out where your income came from.   You can then run the Financial Tracking Report to find out how you did for the year.

SMS Advanced users additionally have the option to enter financial information by creating Financial Entries and create Profit/Loss Maps which combines all of the income and expense entires for a field and lets you know which areas were more or less profitable for you so that you can determine if you want to make any changes to your management of the field for the following year.

Isaac Bowers

Isaac Bowers is Ag Leader’s Software Support and Training Supervisor. In this role, he supervises the department that supports and trains users on SMS Desktop and SMS Mobile software programs. Isaac is originally from Iowa and received a degree in Ag Systems Technology from Iowa State University. He enjoys helping out on the family farm, running and fishing.

Read More by Isaac Bowers

Comments

We would like to start using the income/expense entries and wanted to know if you could generate work orders for fertilizer application, seed variety placement and other inputs for individual fields once you had everything entered in. We use SMS Basic now for mapping and another program for cash flows and work orders but would like to have it all in the same program if possible

Janet Orr on Oct 23, 2013

Thanks for your question, Janet. Sorry, but SMS can’t exactly do billing or work orders. What SMS can do is keep track of income/expenses on various levels, and can help to keep track of profitability of each field at the end of the year. For example, you can apply a cost to a bag of seed and use our variable rate perceptions to determine how much you are going to be spending on seed and make adjustments from there.
If you haven’t already watched the video above, I encourage you to do so.

Ag Leader on Oct 23, 2013

Leave a Comment

Speak your mind.

Remember my personal information

Notify me of follow-up comments?