User Roles AdminStaff contributor ✗External contributor ✗Pulse user 

The Agricultural - Stock Valuation: Lead Schedule template is a summary page in the Farm Working Papers package. It lists every stock account - livestock, crops, and other farm stock - grouped into three categories, with current and prior year balances and a grand total. There is nothing to enter on this template: it reads the trial balance directly, so no reconciliation is required.

Table of contents 

When should I use this template?

The template is included automatically in the Farm Working Papers package as the lead schedule that sits above the Agricultural - Stock Valuation: Crops and Other and Agricultural - Stock Valuation: Livestock account templates.

Use it as your starting point and navigation page for the farm's stock section. It shows every stock account with a balance in one place, and you drill down into the individual account templates from the trial balance to enter the detail behind each figure.

Before you start

There is nothing to set up on this template itself. Make sure the crop, other-stock, and livestock accounts are mapped to their respective account templates, so the detail behind each balance is available when you (or the client) drill down.

Background

This schedule does not perform a reconciliation of its own. It is a presentational summary that pulls whatever is posted to the stock accounts in the trial balance, grouped into three categories:

  • Livestock
  • Crops
  • Other stocks

The Livestock category covers the same accounts as the Agricultural - Stock Valuation: Livestock template, and the Crops and Other stocks categories together cover the same accounts as the Agricultural - Stock Valuation: Crops and Other template. Once each of those account templates is reconciled to its account, this schedule and the two account templates will agree.

Steps

There are no inputs. The schedule automatically:

  1. Lists every account in each of the three categories that has a non-zero balance in the current or prior year. Accounts with a nil balance in both years are hidden, and a category with no populated accounts does not appear at all.
  2. Shows the current year value and, on screen where a prior period exists, the prior year value alongside it. The prior year column is deliberately left out of the exported and printed version, so it is on-screen only.
  3. Subtotals each category once it has more than one account showing, and produces a grand total across all three.

Where the farm is a sole trader or partnership using non-standard period-end dates set up in the Sole Trader General Settings template, the schedule picks up its current and prior period-end dates from there. Otherwise it uses the period's own start and end dates.

What flows through to the rest of the accounts/workflow?

Nothing flows out of this schedule. It is a read-only summary for review purposes. The detail behind each figure is entered in the Agricultural - Stock Valuation: Crops and Other and Agricultural - Stock Valuation: Livestock account templates, which each reconcile to their own account.

What rolls forward next year?

Nothing carries forward. There is no data entry on this template, so each period it simply reflects whatever is in the trial balance for that period and the prior one.

Where the data comes from

Every figure comes directly from the trial balance accounts mapped to the crop, other-stock, and livestock categories, not from the calculated results of the Agricultural - Stock Valuation account templates. In practice the two will match once those account templates have been reconciled to their accounts.

Frequently asked questions

Can I edit anything on this schedule?

No. If a figure is wrong, correct it on the underlying account, either via the Agricultural - Stock Valuation: Crops and Other or Agricultural - Stock Valuation: Livestock template, or directly in the bookkeeping.

Why has an account or category disappeared?

Both the current and prior year balances are nil for it. The schedule only shows accounts and categories with a value in at least one of the two years.

Why doesn't the exported PDF show last year's column?

That is deliberate. The prior year comparative is shown on screen for your working papers, but suppressed from the exported and printed version.

This schedule doesn't match my Stock Valuation account template - why?

The two draw from the same trial balance accounts, so if they disagree, check for an unreconciled difference showing on the relevant Agricultural - Stock Valuation: Crops and Other or Agricultural - Stock Valuation: Livestock template. That is the underlying cause.

This schedule is guidance for your working papers and does not constitute advice. If a balance looks wrong here, start with the underlying Agricultural - Stock Valuation account template rather than the schedule itself, because the schedule only reflects what is already posted in the trial balance.