Using The Grain Income Calculator

The Grain Income Calculator is designed to calculate the cash flows, loan balances (if applicable) and
changing pool equity for all grain types whether it be wheat in an AWB Loan, Barley in a pool situation
or Canola sold on a cash basis.

The results of these calculations can be directly accessed by the budget OR enterprise worksheet.
This calculator supersedes the Agrimaster 4 Wheat loan Calculator which only catered for AWB
Wheat Loans.

  • You can create any number of "Sets" of grain income calculations. 
  • Each set comprises of multiple years. 
  • Sets can be used for other grains such as barley, canola and lupins without using loans or any
    other AWB type features. 
  • Set types:
    - Wheat pool with harvest loan
    - Wheat pool Flexible loan
    - Wheat pool Advance Payment
    - Wheat pool Deferred Payment
    - Wheat pool Distributions No Loan
    - Other pool with harvest advance
    - Other (cash, contract etc.)
    - Rice Pool with harvest advance

  • When setting up a budget, one or several sets can be included.

Creating Grain Income Calculator Set

To create a grain income calculator set you will need to:

  1. mceclip1.png Start at the Home page 
  2. mceclip2.png Click on Budget 
  3. mceclip3.png Click on Full Budget 
  4. mceclip4.png Click on Worksheets
  5. mceclip5.png Click in Grain Income Calculator 
  6. Grain Income window is displayed
  • Choose NEW from the Actions on sets list.
  • Enter name of new empty grain income set (eg Barley).
  • Select Month of First delivery
  • Select set format from the list (see explanation below).

mceclip7.png Click the tick to save.

Set Types 

Wheat Pool with Harvest Loan
This option is the extension of the previous Wheat Loan Calculator and only a few changes have
taken place. 
This set type calculates the cashflows, loan balances and changing pool equity of each wheat loan.


  1. From the drop‐list at the top left select the HARVEST SEASON.
  2. Start in the grey section on the left hand side.
  3. LOAN %: Enter the loan percentage. Currently 90.
  4. Monthly % Deliveries: indicate how much you will deliver in each month. (eg. Start harvest in
    the last week in November and will probably finish by end of December. So perhaps 30% will
    be delivered in Nov and the remaining 70% in Dec).
  5. 1st Distribution: indicates in what months you will be paid the first distributions. You may
    deliver 30% in November but may not be paid for it until December. Also if you choose to
    defer payment until after the financial year you would select July.
  6. Later Distributions: Indicates when the Quarterly distributions will be paid. These
    distributions will be paid to the loan account in months indicated. Just click on months
  7. TOP‐UP %: Enter the percentage of expected top‐up loan. (Usually around 5%.) This is
    entered as a percentage so that the top‐up changes as the expected return changes. This
    figure is at the whim of AWB Ltd. 
  8. TOP‐UP MONTH: Select month of top‐up loan.
  9. UNDERWRITING FEE: Enter the expected underwriting fee in $/tonne. Available from AWB.
  10. UNDERWRITING FEE CODE: Select required code.
  11. ACTUAL INTEREST RATE: Enter the average expected interest rate to apply to the loan. This
    rate is used to calculate interest payments and equity.
  12. INTEREST CODE: Select required code.
  13. LEVIES: Enter the total of estimated levies as a percentage of the “GST excluded estimated
    silo return” (1.015 % is the default, but the figure can be obtained from AWB Ltd.)
  14. LEVIES CODE: Select required GST Free code.
  15. LOAN A/C: Select the loan account for his harvest. (For example, the loan account might be
    2003/2004 Loan AWB)
  16. CHEQUE ACCOUNT: Select the account into which the loan drawdown will be deposited.
    (usually Farm Cheque Account)
  17. TOTAL PRODUCTION: For a new setup, enter the tonnage estimated for predicted harvests
    and actual tones delivered for past harvests. 
  18. STORAGE AND HANDLING (deducted): These are used only to calculate the loan drawdown.
    Enter in $/tonne. 
  19. STORAGE AND HANDLING (billed): These are used only to calculate the loan drawdown.
    Enter in $/tonne.
  20. Months after delivery billed costs are paid: If you have billed storage and handling enter
    the number of months after delivery billed costs are paid.
  21. FREIGHT: Enter the estimated freight to port in $/tonne.
  22. CODE USED FOR BILLED HANDLING: Select required code (ie Billed handling).
  23. WHEAT QUARTERLY INCOME CODE: Select required code (ie: Wheat Qrt Payments) The
    quarterly payments will be paid directly to the Loan account


  1. In the QTY % column, enter the percentage of each grade budgeted to be delivered to the
    loan option pool during this harvest. (For any completed harvest, enter the known tonnes in
    the Qty Tonnes column instead. The percentage will be calculated for you.).
  2. Enter the expected gross (EPR (FOB)) Exc GST pool return for each grade. This information is
    available from AWB Ltd.
  3. Where applicable add in any +Premiums (protein) and ‐Discounts (screenings) for each
    grade. (Add this detail as the information comes to hand.)
  4. Enter the estimated FINANCE FEE $ per tonne for each grade. This information is available
    from AWB Ltd.
  5. QUARTERLY INCOME: For each quarter enter either the expected percentage (grey column)
    or the gross or the expected dollar payment (white column). If you enter a % Agrimaster will
    automatically. calculate a $ amount for the same quarter and vice versa.
  6. STORAGE AND HANDLING: These are used only to calculate the loan drawdown. Enter in
  7. FREIGHT: Enter the estimated freight to port in $/tonne.
  8. FINANCIER: Enter the institution providing the loan facility.

To calculate the loan cash flows; click on the CALCULATE icon. This will show the 18
months of cash flow, balances and equity. You will progress to the screen shown below.


  • Loan Drawdowns This indicates loan proceeds deposited to your cheque account after
    delivery. These months can be changed by indicating 1st Distribution % in appropriate
    months in the setup screen. The May top up is also included as a loan drawdown, however,
    does not incur an underwriting fee.
  • Opening Balance This indicates the opening balance of the loan account at the beginning of
    each month. The loan is created as loan drawdowns are deposited.
  • Income Exc GST, Costs Net income received when a quarterly distribution is paid. This amount
    is paid directly to the loan account.
  • GST Collected This indicated GST collected on the Quarterly distribution. This amount will be
    remitted to the ATO.
  • Levies Fees and levies calculated from the quarterly distribution payment. These levies will
    be deducted from the payment before it is deposited to the loan account.
  • Underwriting Fee This AWB fee is deducted from the Loan drawdown amount before a deposit
    into your Cheque Account.
  • Interest This interest is calculated on the loan account. This will be deducted from the loan
    account each month.
  • Credited to Farm Cheque Account This line indicates amounts directly deposited to the
    cheque account.
    These include:
    Proceeds from the loan drawdown (after underwriting fee has been deducted).
    Proceeds of final pool payment (after loan has been repaid).
  • Equity Exc GST Value of equity of this pool excluding GST.
  • Equity Exc Loan, GST Value of equity of this pool not including the loan. (net equity if the
    loan was repaid) 
  • Debited to Farm Cheque account: This line indicates amounts debited from the cheque
    account. These include: Costs of billed storage
  • Season Totals: These are the totals for the above for the whole season
    If “Enter Loan $ each grade is switched on, up to two loan top‐up months can be selected and all
    loans are entered in dollars instead of by percentage.
    This enables you to enter past years’ actual data into the GIC easily.

Wheat Pool – Flexible Loan
A Flexible drawdown loan does not have set drawdown or repayment dates unless the amount
drawn down does not exceed the remaining equity.

This format is used to calculate the cash flows associated with the loan and is set up the same way as
the “Wheat pool – No loan” option

Loan drawdowns and repayments for this option should be entered into the “Cash transfers” section
of the full budged as decisions as to when drawdowns may be needed will usually be based on the
balances of other accounts within the full budget

The full budget interest calculator should be used to calculate interest on this option

Wheat pool – Advance Payment
In the Advance Payment option, there are three income months (probably at harvest, May and April
the following year).

Enter the first month in the “1st Distribution” grid and select the second and third months in the
”Later distributions” month list.

Wheat pool – Deferred Payment
In the Deferred Payment option, there are two income months (probably July and April the following

Enter the first month in the “1st Distribution” grid and select the second month in the ”Later
distributions” month list.

Wheat Pool – Distributions No Loan
This set format allows you to calculate your wheat pool where there is no loan involved. (Eg
Quarterly Pool Payments)

Other Pool with Harvest Advance

This set format allows you to calculate other grain pools such as canola, barley, oats and lupins
where there is no loan involved.mceclip16.png

Other (cash contracts etc)
This set format gives you the option of calculating cashflow and equity for any grain sold for cash or
by contract. You have 5 opportunities to sell the grain in any month over an 18 month period.


Attaching Grain Income Sets to a Full Budget via the Enterprise Worksheets
This will ensure all relevant budget calculations from the Grain Income Calculator will appear in your
budget. You will also be able to produce accurate Gross Margin reports.

To attach relevant sets you will need to:

  1. Access Budget Worksheets
  2. Open the PRODUCTION worksheet in the Cropping worksheet group.
  4. Select the sets that have you have entered data in from this budget year.
  5. mceclip20.png Click the green tick or press F10 to save.
  6. To edit any set, click on EDIT GRAIN CALCULATOR SET This will take
    you directly to the Grain Income Calculator setup screen so you can make changes.

Attach the Grain Income Sets Directly to the Budget

  1. mceclip1.png Start at the Home page 
  2. mceclip2.png Click on Budget 
  3. mceclip3.png Click on Full Budget 
  4. mceclip21.png Click on Change Budget Setup
  5. Select the budget to attach GIC sets.mceclip22.png
  6. mceclip20.png Click the green tick or press F10 to save.
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