Market Value of Livestock

Cashbook Platinum

To enter the market value of livestock, for management reporting, there are three options to enter; value of livestock at cost, market selling value or replacement value.

The basis of valuation may be changed year by year. Different valuation methods may also be used for different stock in the same year. However, the value of opening livestock (at 1 July) each year should be the same as the value of closing stock (at 30 June) for the previous year.

Cashbook has the capability to revalue livestock inventory using market/management values. Market Value is the current price at which an asset can be sold.

For tax values with respect to valuing natural increase, see ATO - Primary Producers  - Valuing livestock

Step 1: Advanced Trading Accounts

• Click on the Transactions
  
• Advanced Trading Accounts menu option
  

iii. Click Yes to confirmation message 'Do you want to recalculate all of the sales and purchases now'

iv. Click on the plus square on the right side of <Livestock> to display all available livestock enterprises

v. Click on the required enterprise, eg. Cattle Trading

vi Click on 'Management', as the Stock valuation basis

vii. Click on 'Use Market Values', for Taxation/Accounting Reporting

viii. Click on the plus button on the right hand side of the enterprise, eg. + Cattle Trading, to reveal all enterprise classes

ix. Click on an enterprise class, eg. weaner heifers

• To change the value of the enterprise class e.g. at the end of the financial year:
  
  • scroll across to the June column
    
  • scroll down to the Closing No. $/Hd. row
    
  • Type in the market value for that enterprise class
    

x. Tab out of the data entry box

xi. Click Yes to confirmation message 'Would you like this closing unit value to be copied to all the subsequent months?'

xii. Repeat these steps for each enterprise class