Tracking the value of your assets over time is likely very important for your business. The value of your assets contributes to your overall business health, and can help you get approved for loans based on this collateral. This value might increase or decrease based on many different factors, like animals ageing and growing, equipment being used and racking up miles, or land appreciating based on your local real estate market. Tracking these values over time can give you a good idea on the overall trajectory of your assets.
This value can be added on any individual animal, piece of equipment, grow location, or inventory item. You can update your equipment, land, animals, and inventory to track their estimated values when they change, and add records from past values if you'd like to chart the changes over time. These values can be displayed in the Asset Value History Report.
Quick Summary
- Values can be added on any individual animal, piece of equipment, grow location, or inventory item.
- Values can be tracked over time to account for appreciation and depreciation.
- The report uses a date range to show you a starting and ending value based on this timeframe.
- The change amount and change percentage are also shown.
Adding Values to Records
To get started, navigate to the record that you'd like to add the value for. If you are creating a brand new record, or have never added an estimated value to the one you are working with, you'll need to first edit the record and add to the field for Estimated Value. The value you add here will be the assets current estimated value as of today.
You can read more about editing records to add these values in the following articles.
- Livestock Historical Values (this outlines the entire process and a unique report for Livestock Values as well!)
- Getting Started with Inventory
- Creating Grow Locations
- Getting Started with Equipment
In our example below we are adding an estimated value to one of our grow locations. We navigate to the field and then select details, and supply a current estimated value. After saving, note that a new "History" button is shown next to the estimated value field. From here you can make new records to build the past value history, and make new ones in the future if the value changes. Tip: Be careful with the "Update current value" checkbox, you'll only want to do this for new current values and not past values that are no longer accurate. We did not check the box in the image below as we added a previous value, not a new current one.
Asset Value Reporting
After adding the values to your records, you can now run the value history report to track them over time. Navigate to Reports, and you'll see the Asset Value History report under the Accounting and Financial Tab. This report displays starting and ending values within a date range, and also calculates the amount and percentage change within the period as well.
We'll check one of our fields in our example below. Make note of the starting date range of the past year - 4/7/25 > 4/7/26, as of the video recording. This report will always default to show values for the previous 365 days. We'll search for that grow location/field ("Addison") and see a starting value of zero, as our first value record was added July 1st when we bought the property. Changing the date to July 1st shows the initial value of $112,500. We reevaluated the field on January 1st and see the value changed then, and then again on April first when we revalued the field after the first quarter of the year.
