Red Wing Software Customers in the News

10 February 2014 StephanieE Customers in the News

CenterPoint Accounting customer, Rendell Tullar, of Tullando Farm, was featured in the January issue of Dairy Today in the article Dollars and Sense. To read the entire article, click here.

The January 19, 2014 issue of Progressive Dairyman featured several of our CenterPoint Accounting customers in the special insert for the Professional Dairy Producers of Wisconsin 2014 Business Conference. Included were: Deric Lindstrom from Breezy Point Farms, Jim & Sue Kruger and Jeff & Lisa Buchholz of So-Fine Bovines LLC, and Paul Fetzer from Fetzer Farms.

Also featured in this issue, was Vir-Clar Farms in the Calf & Heifer Raising section of the magazine. You can click here to read the entire article.

Tubergen Dairy Farm, LLC, a CenterPoint Accounting customer, was featured in the January 10, 2014 issue of Hoard’s Dairyman. The dairy farm is a 2013 Platinum award winner in the 63rd Annual Hoard’s Dairyman Round Table. Congratulations from all of us at Red Wing Software!

Ag questions answered by the Farm Financial Standards Council

23 January 2014 StephanieE FFSC Q&A, Industry Specific Topics, Agriculture

By Stephanie Elsen

Professionals from the Farm Financial Standards Council are answering questions about ag financial matters (non-tax related). Here is a question recently submitted by Travis F. Thanks for submitting your question, Travis!

QUESTION

“My question pertains to the reporting of current and non-current portions of non-current liability on a balance sheet. Is a loan with monthly payments treated differently? That is, for a monthly-payment loan, does one still include only the upcoming 12 principal payments for said loan under current portion of non-current liability?”

Thanks, Travis F.

ANSWER

The current portion of a non-current liability (a debt with a repayment term longer than one year) is the amount of principal that is due to be repaid within 12 months of the date of the balance sheet. If the balance sheet is dated January 1st, 2014 then the current portion would be the principal due in 2014 regardless of the frequency of the payment (monthly, quarterly, etc.).

Farm Financial Standards Council

Click Here to Email Your Questions or email FFSC@redwingsoftware.com with a subject line of “Questions for the FFSC”. The FFSC will select questions to answer on this blog.