Home / 04 Aug, 2020

Turn your equipment into automated bookkeepers with AgDNA's Financial toolkit

Turn your equipment into automated bookkeepers with AgDNA's Financial toolkit

Your in-field machinery are all fitted with an array of smart sensors, constantly transmitting onboard sensory data to the internet where the information is stored and can be analyzed at a moment’s notice 24 hours a day.

This is where the heart of automated farm financials lay; by connecting this automatically generated sensory data with a detailed product list, growers gain a valuable economic advantage, where critical farm decisions can be made in real-time as the crop matures throughout the season.

In short, your tractor or combine transforms itself into the role of full time bookkeeper, automatically calculating the cost of each activity in real-time as they move throughout the field.


Financials on AgDNA


All of this aggregated financial information, whether it is automatically calculated or uploaded manually, is stored and managed via the Financials tab on your AgDNA account.



Product purchases, input costs, field expenses and all of your operating income are run through this simple toolkit. Using all the information that you input into your Financial tool as a base, all of your activities can begin generating automated profit and loss calculations for use in your reporting.

To begin setting up your financial information first navigate to the Financial Tool, located on the far left hand side of your map screen. Below you will find an overview of the various sub-tools at your disposal:


Overview


An overall dashboard that tracks revenue, expenses and profits across all farms. The overview page offers users an opportunity to quickly track the progress of their season at a glance.



Reports


The Reports tab features an exclusive financial report building tool that generates unique Table or PDF reports based on the variables chosen by the user.



To begin generating a report, first select the kind of report to be generated using the Report dropdown; tailor your financial reports by field, by acre or by profit and loss. For farms with landlord contracts, reports can be tailored by Grower split, Landlord split, or financial reports on the whole farm. Use the tabs under the Total heading to change the intended report type. Next, select the other variables you want to display and select either the Generate Table button to display the report on screen in your portal, or select the Generate PDF button to send the report to a downloadble PDF.


Operating Cost/Income


Use this tab to begin inputting in the Fixed and Variable costs and income associated with the farm. Examples of Fixed costs and income might include scheduled maintenance costs, land rates or yearly insurance. Variable costs or income might include finances that exist on a sliding scale, like taxes or the cost of fuel.



For quick setup you can copy operating costs and income from previous seasons using the Copy from Previous Year button, located on the bottom left of the Financials screen.

To add new income or new operating expenses to the farm, select the Add button (+) located under any of the four headings on the page. This will create a new income/expense log. To add more, simply select the Add button again. Once you've finished, select the Save Operating Cost/Income button located on the bottom right of the Financials screen.

Field Cost/Income

Like the previous tab, the Field Cost/Income section relates specifically to the ongoing fixed and variable financial expenses and income relating to seasonal activities on specific fields. Using the variable input table provided, you can assign activity costs and income to individual or multiple fields at once.


Field Contracts



The Field Contracts tab allows you to assign landlord/owner contract details to any of your fields across multiple farms at once. To assign a contract, simply use the checkbox to select a field(s) and then select the Apply Field Contract button on the lower right hand side of the Financials screen. To view current contracts, select the blue View Field Contracts button located on the bottom left hand side of the Financials screen.


Product Costs



Here you can assign individual costings to the products listed in your Product List. To manage your Global Product Database, click here.


Crop Prices


By assigning financial costings to your crop varieties, your automated activity expenses and projected earnings can be calculated and adjusted from this tab. Inputting crops and assigning them to fields is an important step in the automation of your entire farm.



It is through innovations like comprehensive financials  that you can you’ll be able to begin maximizing your farm’s efficiency to its fullest extent. If you have any questions regarding financial reporting, securing a free demonstration or upgrading your PRO account to a PRECISION account, contact your local authorized AgDNA dealer partner now.