Create a GIC for Wheat Pool Distributions No Loan

Use Agrimaster Grain Income Calculator (GIC) to track cropping payments and activity when the financial activity happens in 2 or more budget years. 

The typical cropping scenario in the GIC contains 18 months from the start of the first loan distribution to the date of payment for the receipt of grain. The GIC feeds the financial data from the 18-month cycle into the correct budget years. The GIC is setup to handle back-to-back years of the same cropping activity. 

Using the GIC saves you from having to manually track remainders of loan distributions or outstanding payments for grain between 2 or more budget years. The GIC data is also sorted into the correct years for your Statement of Position Report.

Start a New GIC Worksheet for Wheat Pool Distributions with No Loan 

1.    Before you start a new Grain Income Calculator (GIC) 

  • Create and enter the data into the Cropping Production Worksheet
  • Confirm your Wheat Pool contract will cross over 2 or more budget years from the date of the first loan distribution to the date of the last payment for the grain
  • Do not use the GIC if all of the transactions are within a single budget year. Instead, use the Cropping Pool Income Worksheet

2.     Print the Cropping Production Worksheet

3.     Click on the green tick to OK and click on  to close

4.     Click on Home

5.     Click on Budget

6.     Click on Full Budget

7.     Click on Worksheets

8.     Click on Grain Income Calculator

1.    Action on Sets


Select New

2.    Enter name for NEW empty grain income set


Type a recognizable name that includes the type of GIC
No need to add the year to the title – use the same GIC for a series of years that use the same Wheat Pool contract

3.    Select set format


Select Wheat pool – Distributions No Loan

4.    Select Month of First Delivery


Choose the month your harvest starts as First month (November shown here)

5.    Click on the green tick to OK

6.    Select the years that your Wheat Pool activity starts 

For example, if you begin the harvest and deliveries in November 2015 and receive the first disbursement from the Wheat Pool in April 2016, choose 2015/2016 

7.    Look at your Cropping Production worksheet print out
In Production (Tonne) type the number of tonnes from Wheat Pools Non-Loan 


8.    Look at your Wheat Pool contract and enter the following 


1.    Freight (deducted)


Type the cost of freight that you pay as an expense

2.    Freight (billed)


Type the cost of freight that is billable upon sale of the grain

3.    Mths after delivery freight paid


Type the number of months after your grain is shipped that you pay for the freight

4.    Freight Code


Select the Cashbook Code that you use for freight *
Example, ‘Grain Freight’ from the sample Cashbook Codes

5.    Store and Handling (deducted)


Type the cost of storage and handling that you pay as an expense

6.    Store and Handling (billed)


Type the cost of storage and handling that is billable upon the sale of the grain

7.    Mths after delivery handling paid


Type the number of months after the grain is received that the storage and handling is paid

8.    Handling Code


Select the Cashbook Code that you use for storage and handling expenses *
Example, ‘Grain Selling Costs’ from the sample Codes

* Hint: Press the first letter of the Cashbook Code’s name multiple times until the correct code is found. For example, push the g key several times to move through to ‘Grain Freight.’ 

9.    Continue entering information from your Wheat Pool contract

1.    Levies as % of (EPR less S&H, freight)


Type the cost of percentage used to calculate the grain levies

2.    Levies code


Select the Cashbook Code to expense the levies

For example, the Grain Lev-GST Free from the sample Cashbook Code prevents GST from being added to the levy

3.    Cheque A/c


Select the bank account that receives income from the
Wheat Pool distributions

4.    Grain Income code


Select the Cashbook Code used to track income payments from the Wheat Pool distributions


5.    In Monthly % Deliveries column, type the estimated percentage of wheat you will deliver by month. The total Deliveries must equal 100.0


6.    In Distributions, click on 1 to 5 months you receive Wheat Pool distributions

In this example, 5 quarterly distributions are received starting in April 2016 and finishing in August 2016.

N = November 2015. The first J = January 2016. The last O = October 2017.
A GIC allows for a Wheat Pool contract to be completed in up to 18 months.

7.    Estimate the future wheat quality from the number of Deliveries you entered in step

  • Qty% - type your estimated percentage of the grain that will meet that quality
  • Qty Tonne - Agrimaster calculates the tonnes of grain at that quality from your total tonnes
  • EPR (FOB) Exc. GST – type the estimated price per tonne you expect to receive, excluding GST
  • Dist 1 % - type the expected percentage of that grain quality you will ship in Nov 2015
  • Dist 1 $/t - Agrimaster calculates the dollars per tonne you will received for that grain 

Continue to estimate the wheat quality for the next distribution

Ensure the total percentage across all qualities and distributions totals 100%

8.    Click on Calculate 

Correct the Grain Income Calculator Setup 

1.    If a Grain Income Calculator Setup message appears, click on OK

2.    At the next window, if you are unsure when to deduct costs, click on AWB Default

3.    Click on  to close

4.    Click on Calculate again 


Completing the Grain Income Calculation

Agrimaster will spread the income and expenses across the months by Cashbook Codes 

Click on  3 times to return to the Full Budget Worksheets menu

This one Grain Income Calculator can handle multiple years of Wheat Pools with the same type of contract! To move between years with the same Wheat Pool, click on the Year drop-down. 



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