This article outlines all the terms you will come across in the balance sheet and where the figures for each of the items come from within Agrimaster.
Assets
Assets are items you own that are worth money and you can sell them.
| Current Assets | All assets that can be converted into cash within the next 12 months from the date the balance sheet is generated. |
| Cash | Total of your credit balances in your accounts marked as Working Accounts. |
| Accounts Receivable | Total of all items currently outstanding in invoicing (debtors). |
| Livestock | Total of all commodities marked as livestock in the trading stock in the asset register or trading stock section. |
| Trading Stock |
Total of all commodities marked as trading stock in the trading stock in the asset register or trading stock section. |
The total of these figures gives you the Total Current Assets.
Fixed Assets At Cost
| Plant and Machinery | Total of all items in the asset register marked as plant and machinery in the asset register or trading stock section. |
| Buildings | Total of all items in the asset register marked as buildings in the asset register or trading stock section. |
Less Accumulated Depreciation
A total of all items in assets register that are depreciated regardless of what method is used.
| Total Fixed Assets Net Other Assets | The total of buildings, plant and machinery minus depreciation. |
| Intangibles | This figure includes all items classified as Intangibles in the asset register or trading stock section. |
| Goodwill | This figure includes all items classified as Intangibles in the asset register or trading stock section. |
| Other | This figure includes all items classified as Fixtures & Fittings in the asset register or trading stock section. |
The total of these figures will give you the Total Other Assets.
The total of all figures in the assets and less accumulated depreciation will give you Total Assets.
Liabilities
These are items you own but you owe money on. E.g. loans, HP's or chattel mortgages that you have taken out.
All tax liabilities in Agrimaster are calculated up to the latest entries in Transactions, Invoices or Accounts Payable.
The total of the figures below will give you the Total Current Liabilities.
| Current Liabilities | all liabilities that need to be paid within 12 months from the date the balance sheet is generated. |
| Account Payable | All items in your chequest, EFT accounts payable section in Agrimaster. |
| GST Payable | Based on the GST liability calculated by Agrimaster. |
| PAYG Payable | Based on the tax calculated by Agrimaster. |
| Installment Tax Payable | Based on the tax calculated by Agriamster. |
| Short Term Debt | The total of all working accounts that have a debit balance. |
Long Term Debt
| Long Term Debt | Liabilities that need to be paid but are not owed within 12 months from the date the balance sheet is generated. |
| Loans | The total of all term loan, HP, lease and chattel mortgage accounts that have a debit balance. |
The total of the figures in current liabilities and long term debt will give you the Total Liabilities.
Owner's Equity
How much the business owner owns of the company.
The total of all items above will give you Total Liabilities and equity.
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