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TIP: Farm Funds

Closing Enterprises

In Farm Works, every time that you set up People, Field, Structure, Equipment Icon, or Livestock Icon, an Enterprise is created for the item. These Enterprises act as completely separate entities that have their own sets of books to keep track of the Income and Expenses for each Person, Field, Structure, Equipment Icon, and Livestock Icon. As such, whenever you record an expense or income item, in addition to having it recorded on your farm books, you can allocate it to your various Enterprises (if desired) and have it recorded on the "Books" of that enterprise. This allows you to see how your business as a whole is doing while at the same time seeing how each one of your enterprises is doing so that you know what enterprises are making money for your farm and what enterprises might be losing money for your farm. This can be extremely helpful when you are trying to decide which fields should be rented or whether you should buy a new implement or rent one or have someone custom farm your fields with their equipment.

As you work in the field, Farm Funds handles the field information differently depending on whether the enterprise is open, closed, or partially closed. Field Enterprises are normally closed at the time the last farming operation for the crop year is recorded, but not necessarily at the end of the year. This is normally the last harvest operation for the field. It is important to make sure enterprises are closed from the prior crop before recording operations for the new crop.

1. Record the final farming operation for the crop year (normally the last harvest).

2. You will see an End Enterprise option in the Farming box. You will have the option to select Yes, No or Partial. If this is the last farming operation for this crop, select Yes.

Note: Partial closes are used to end a percentage of an enterprise's inputs, while leaving the remaining percentage in the field. For more information, please visit Partial Closes.

Note: Fall tillage operations are normally considered as preparation for the next year's crop. This may vary depending on how you decide to track costs on your farm.

3. Selecting Yes closes the enterprise and tells Farm Works that no future farming operations will be added to the enterprise. The next farming action that you perform on the field will go to the next year's crop.

If all farming operations are already completed but the enterprises have not been closed, use the following steps to close the enterprises.

1. Go to Accounting-Enterprises- Enterprise Maintenance. The Enterprise Maintenance window will be displayed.
   

2. The Enterprise Maintenance box lists the Year, Commodity, Field and status of the enterprise (opened or closed).

3. Highlight the enterprise to be closed by left clicking on the desired enterprise.

4. Click on the Edit button.

5. The Edit Crop Enterprise box will list all information pertaining to the selected enterprise.
   
   

6. Check the box next to Enterprise is closed; this will close the enterprise. Click OK.

7. Repeat the above steps for each additional enterprise that needs to be closed.

8. Click Done when all desired enterprises have been closed.

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