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In this Topic Hide
A farm client may be set up as either a Sole Trader, a Partnership,
a Limited Company or a Limited Liability Partnership.
The EPSF chart is based on the EPST chart and is used for Sole Trade, Partnerships and LLPs.
The ELTF chart is based on the
ELTD chart and is used for Limited
Companies.
Three types of enterprises can be setup under Edit | Enterprises under Arable, Livestock or Other. Any number of enterprises can be created under each category against the enterprises so that only current enterprises appear when making postings.
5 year Management
reports are available for Variance
and Balance Sheet
reports for Limited Companies and Partnerships/Sole Traders:
VAR |
Variance |
BL5 |
Balance sheet |
MAN |
Management reports. |
PSN/PSA
- Complete set of farming reports for Sole traders and partnerships:
PSA |
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PSN |
|
FLY |
Fly Sheet |
FLY |
Fly Sheet
|
IND |
Contents |
IND |
Contents |
CIN |
Company Information |
CIN |
Company Information |
ACR |
Accountants' Certificate (if applicable) |
ACR |
Accountants' Certificate (if applicable) |
TPF |
Trading and profit and loss account (see later for details and alternatives) |
TPF |
Trading and profit and loss account (see later for details and alternatives) |
BL3 |
Balance Sheet |
BL3 |
Balance Sheet |
CUR |
Capital and current accounts |
NOP |
Notes |
IAX |
Intangible fixed assets |
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FIX |
Fixed asset schedule |
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HBA |
Herd basis |
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Alternatively, PSI
can be run:
FLY |
Fly Sheet |
IND |
Contents |
CIN |
Company Information |
ACR |
Accountants' Certificate (if applicable) |
IEA |
Income and Expenditure Account |
FLY |
Fly Sheet |
IND |
Contents |
CIN |
Company Information |
ACL |
Accounts' Certificate or Audit Report |
PL1 |
Statutory Profit and Loss Account |
RGL |
Statement of Recognised Gains and Losses |
BL2 |
Balance Sheet |
CFS |
Cashflow Statement (if applicable) |
NOT |
Notes |
AUX/ |
Audit Report (if applicable) |
TPF |
Trading Profit and Loss Account (see below for details and alternatives) |
There are a number of different layouts possible for the profit and loss accounts. Details of TPF, TPG, TFS, TFF and PDF are given here.
TPF - Standard Trading Profit and Loss Account with enterprise accounts
Generates a Trading Profit and Loss Account similar to TPL but has the option to have separate enterprise accounts generated at the end of the report. This option is available via the data screens under Specialist Reporting Information | Options.
Where enterprise accounts are not required:
Income |
(group 1 description) |
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Sales Accounts |
(1 to 10 listed individually) |
|
xxx |
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xxx |
Opening Stock |
(total of group 22) |
|
xxx |
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xxx |
Closing Stock |
(total of group 34) |
|
xxx |
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xxx |
Cost of sales accounts |
(27 to 71 listed individually) |
xxx |
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xxx |
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xxx |
Scheme income |
(accounts 85 and 86 listed individually) |
|
xxx |
GROSS MARGIN |
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xxx |
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etc...(as standard profit and loss report TPL) |
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An example of the first enterprise account
follows:
Enterprise gross margins |
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Cattle |
Descriptions are picked up from the |
|
xxx |
Sheep |
enterprises as entered under Edit | |
|
xxx |
Pigs |
Enterprises |
|
xxx |
Barley |
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xxx |
Wheat |
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xxx |
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xxx |
TOTAL GROSS MARGIN |
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Variable costs |
(group 25 descriptions) |
|
xxx |
List of accounts |
(26, 44 to 71, 82 listed individually) |
xxx |
xxx |
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xxx |
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xxx |
Accounts with no enterprise selected |
xxx |
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GROSS PROFIT/LOSS |
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xxx |
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etc...(as standard profit and loss TPL) |
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The profit and loss account is then followed by the enterprise accounts,
FM1, which are each given a separate
page.
An example of the first enterprise account
follows:
CATTLE |
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ENTERPRISE ACCOUNT |
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Income |
(group 1 description) |
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Sales accounts |
(1-10 listed individually) |
|
xxx |
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xxx |
Less |
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Purchases accounts |
(27-36 listed individually) |
xxx |
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xxx |
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xxx |
Less |
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Opening stock |
(total of group 22) |
|
(xxx) |
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xxx |
Add |
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Closing stock |
(total of group 34) |
|
xxx |
GROSS OUTPUT |
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|
xxx |
Variable costs |
(group 25 description) |
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Variable costs |
(26, 44-71, 82 listed individually) |
xxx |
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xxx |
GROSS MARGIN |
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xxx |
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TFS - Trading profit and loss account with summary/income/expenditure
Generates a Trading Profit and Loss Account, made up of a Summary page, an Income report (TFI) and an Expenditure report (TFE). To use this report instead of the Standard Profit and Loss report (TPF) you will need to set the following alias; TPF = TFS.
The summary page will show the following:
Income |
(Group 1 description) |
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Arable |
|
xxx |
Livestock |
|
xxx |
Other |
(listed individually as entered under Edit | |
xxx |
|
Enterprises) |
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|
xxx |
Scheme income |
(accounts 85 and 86 listed individually) |
xxx |
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xxx |
Other income |
(group 41) |
xxx |
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xxx |
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Expenditure |
(Group 91 description) |
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Variable costs |
(group 25 description) |
xxx |
Fixed costs |
(group 953 description) |
xxx |
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xxx |
Interest receivable |
(Group 81 description) |
xxx |
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NET PROFIT/LOSS |
|
xxx |
The Income report TFI will then
be generated. This report provides the information concerning the livestock
and arable enterprises and any other income (other than interest received).
The layout is as follows:
ARABLE INCOME |
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Wheat |
(as entered under Edit | Enterprises) |
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Opening stock |
(accounts 17-25 listed individually) |
(xxx)
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Purchases accounts |
(27-36 listed individually) |
(xxx)
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Closing stock |
(accounts 73-81 listed individually) |
xxx |
|
Sales |
(accounts 1-6 listed individually) |
xxx
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xxx
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Produce sales |
(accounts 7-9 and sub accounts of 10 listed individually) |
xxx
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xxx |
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continues as above for all arable enterprises |
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xxx |
LIVESTOCK INCOME |
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Cattle |
(as entered under Edit | Enterprises) |
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Sales |
(accounts 1-6 listed individually) |
xxx |
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Opening Stock |
(accounts 17-25 listed individually) |
xxx |
|
Purchases |
(accounts 27-36 listed individually) |
xxx |
|
Closing stock |
(accounts 73 - 81 listed individually) |
xxx |
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|
xxx |
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Produce sales |
(accounts 7-9 and sub accounts of 10 listed individually) |
xxx |
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xxx |
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continues as above for all livestock enterprises |
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xxx |
OTHER INCOME |
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Cottage Lets |
(as entered under Edit | Enterprise) |
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Sales |
(accounts 1-9 listed individually) |
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Opening Stock |
(accounts 17-25 listed individually) |
xxx |
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Purchases |
(accounts 27-36 listed individually) |
xxx |
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Closing Stock |
(accounts 73-81 listed individually) |
xxx |
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Sales |
(accounts 1-6 listed individually) |
xxx |
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xxx |
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Produce Sales |
(accounts 7-9 and sub accounts of 10 listed individually) |
xxx |
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xxx |
SCHEME INCOME |
(group 952 description) |
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Accounts 85 and the sub accounts of 86 listed individually |
xxx |
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xxx |
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OTHER INCOME |
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Accounts 1-10(sub accounts) and 88-123 listed individually |
xxx |
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xxx |
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The last part of the report TFE
details the variable expenses and the overhead expenses:
VARIABLE COSTS |
(group 25 description) |
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variable costs listed individually (accounts 26, 44 to 71, 82) |
xxx |
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FIXED COSTS |
(Group 853 description) |
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Fixed costs listed individually (accounts 152 to 407) |
xxx |
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xxx |
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xxx |
TFF - Trading profit and loss account with livestock/arable trading accounts
Generates a Trading profit and loss account followed by Livestock trading account (TFL) and then an Arable trading account (TFA).
To use this report instead of the standard profit and loss report (TPF) you will need to set the following alias under Edit | Report Aliases; TPF = TFF
The layout of the trading profit and loss
account is as follows:
Livestock trading surplus |
|
|
xxx |
Arable trading surplus |
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|
xxx |
Accounts 42-51 listed individually |
|
xxx |
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xxx |
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Direct Costs: |
(group 921 description) |
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Accounts 104-125 listed individually |
xxx |
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|
xxx |
Gross Profit |
|
xxx |
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etc...(as standard profit and loss report TP2) |
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The Livestock trading account TFL is then
produced as follows:
Livestock: Cattle |
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Opening valuation |
|
xxx |
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Purchases listed individually |
|
xxx |
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Livestock sales listed individually |
|
xxx |
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Closing valuation |
|
xxx |
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|
xxx |
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Produce sales listed individually |
xxx |
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xxx |
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Livestock: Sheep |
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continues as above for all seven livestock enterprise accounts |
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GROSS OUTPUT |
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xxx |
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Variable costs: |
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Opening stock accounts listed individually |
xxx |
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Variable costs accounts listed individually |
xxx |
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xxx |
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Closing stock accounts listed individually |
xxx |
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xxx |
Surplus |
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xxx |
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And finally the Arable trading account TFA |
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Arable enterprise 1 |
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Opening valuation |
|
xxx |
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Sales accounts listed individually |
|
xxx |
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Closing valuation |
|
xxx |
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xxx |
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Arable enterprise 2 |
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continues as above for all ten arable enterprise accounts |
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GROSS OUTPUT |
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xxx |
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Variable costs: |
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Opening stock |
(account 69) |
xxx |
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Variable costs listed individually |
|
xxx |
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|
xxx |
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Closing stock |
(account 134) |
xxx |
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|
xxx |
Surplus |
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xxx |