Ranch-Related Financial Record Keeping
CattleMax is the central hub for everything related to ranch record keeping. Keeping track of financial records such as cattle sales, purchases, and income and expenses makes end-of-the-year and tax time much easier. Here's how to easily keep track of the records throughout the year.
Select the Financial Tab from the bar along the left side of the screen
From the above screen, you can change the date range of the financial summary, use the Financial Links to get to the End of Year Organizer, Sale Tickets, Income and Expense areas of CattleMax. See more detail below.
Using the Purchases area of CattleMax, as found under Edit Animal, you can add your newly purchased animal(s) including price, ownership and genetic/possession ownership percentages.
A list of purchased animals may be viewed within the standard smart group titled Purchased Cattle. The Purchased Cattle smart group can also be Edited, including modifying your criteria or columns.
Tip: When purchasing a large group of animals, use our Bulk Add feature to add multiple purchased animals at once.
The sales area of CattleMax lists all sold animals recorded via a Sales Ticket. Utilizing sales tickets is a good way to keep up with your cattle inventory and income. Each ticket allows for important sales information such as Invoice, Sold To, Mktg Method, Sale Date, weights, prices, disposal codes, along with expenses that are incurred during that sale (commissions, fees, etc). When adding an animal(s) to a sales ticket, CattleMax automatically will change their status to sold. The Sold Cattle smart group lists all sold animals.
Learn more details on How to create a Sales Ticket.
Adding Expenses and Income can help in all aspects of your operation – from reports to daily management decisions. Each new entry can assign the expense/income to a particular category and animal – along with any payment information or even upload an attachment of the receipt/bill of sale. All this data is compiled and can be used for reports or the End of Year Organizer.
You may either click on the Financial icon from the dashboard, or from the Financial tab along the left side of the screen to view buttons to add New Income and New Expense or view your End of Year Organizer.
Need to add an expense to multiple animals? Simply use our Group Update feature to update more than 1 animal with just a few clicks.
You are also able to view all your income and expense information within customizable reports by clicking on the Reports tab > Reports > Financial area.