Mapping tracker transfer accounts
When an inter-tracker transfer occurs, this will have a financial impact on the herd as the stock numbers will change. Exactly where this change in the value is recorded will be dependent on how you have set up the tracker.
There are two options for where the values are recorded, the sales and purchase accounts linked to the stock classes or by mapping tracker transfer specific account codes. By default, the value will be captured under the relevant mapped sales or purchase account. If you have individually mapped sales & purchase accounts by stock class, it will come under the account for that specific stock class.A transfer OUT would represent an increase in that stock class and show under the sales account mapped e.g:
However, you also have the option to map a set of accounts specifically for transfers to capture the value of the transfer. This has the added benefit of not contributing to sales or purchase figures and giving a clearer picture of what is happening with the herd. If you have accounts set up for both transfers in and transfers out, you will see the value of the transfer listed under this account instead of the individual stock class account.
Please note, if you have existing inter-tracker transfers on your farm, mapping the tracker transfer accounts will automatically update ALL of the existing transfers entered in Figured to be coded against the new accounts. This will cause any existing posted inter-tracker transfers to become unreconciled between your accounting software and Figured. There are some steps you'll need to follow in order to transition to mapped tracker transfer accounts while maintaining a reconciled tracker. You can find the steps in this article.
How to transfer livestock between production trackers
Inter-tracker transfer transactions can be entered into your livestock tracker from the main screen of the production tracker.
An inter-tracker transfer is a movement of livestock between “like” trackers on the same farm i.e. moving MA Cows from one dairy herd to another dairy or beef herd.
There are 2 ways to add in a transfer, the 'quick' method and the 'posting' method.
The 'quick' method to add a tracker transfer is to click into the column that says Transfer Out. You will then have the option to select which tracker to transfer to, which stock class, and the quantity.
If you wish to do so, you can also specify average weight, dollar value and add notes.
There are currently two options for posting inter-tracker transfers as transactions directly to your accounting software.
The quickest method, for single stock class transactions, can be actioned directly from your Tracker grid. Simply click on the cell for the stock class you wish to transfer between trackers, then select the ‘+ Add Transfer Out’ button and complete the transaction row as required. Finally, for ‘Posting,’ ensure the ‘Post’ tick-box is selected.
For more detailed inter-tracker transfers requiring multiple lines, such as mixed value transfers (e.g. based on weight) or performing multiple stock class transfers at once, these can be entered by selecting ‘+ Add Actuals’ button, and then ‘Transfer’.
When adding multiple stock transfers select ‘+ Add another stock class’ button, and continue processing as many entries as needed. To post the transfers to your accounting software, ensure the ‘Post to ..’ button is selected before saving.
To record an inter-tracker transfer in this screen, you'll need the following information:
From stock class (from originating tracker)
To stock class inside of the target tracker (destination tracker)
Once the details have been filled out, you can click ‘Save Transaction’. This will then flow through to your tracker and reports.