Tracking the value of your animals over time is likely very important for your business. The value of your animals contributes to your overall business health, and likely gets reflected on a balance sheet when tracking assets. This value might increase or decrease based on many different factors, and tracking it over time can give you a good idea on the overall trajectory of your assets. You can update your animals to track their estimated values when they change, and add records from past values if you'd like to chart the changes over time.
This value can be added on any individual animal, or on a Set group. To start, 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 animal's current estimated value as of today. After adding your first value, you'll see it reflected on the animals main record summary.
You will also see a new button added next to it for History. You can use this button to add new records in the future, or back date them to record previous values from the past. You'll also see a chart of values over time displayed on the history page.
In the example below, we have created a back dated record for earlier this year. Note that we did not check the box to "Update Current Estimated Value" for that record, as it is from the past and not the actual current value. In our second record for April 5th, we do check that box, as it is the most current and up to date value and should be reflected on the main animal summary page.
Reporting on Livestock Values
You'll find two reports to help you see your value totals. These are both under the Livestock tab of the Reports section.
Animal Value History - This report shows you the historic values of individual animals. You'll see a row for each animal, with columns for starting and ending values. You can set the date range for whatever period you'd like, and see the net change in value for that period. This could be great if you'd like to see the changes in specific animals over a month, quarter, or year.
Livestock Value Summary -This in-depth report provides a value analysis by animal type. This reports starts with a beginning value of your inventory on a specified start date, and then totals the increases and decreases for each species. You will see births, purchases, and gifted animals added, with sales and deaths reflected in losses as well. Of course, the values that you supply will be taken into account as well, giving you a comprehensive view of the value changes in this species over time. The report is divided into two section, one for increases and a second for decreases.
Additions
- Beginning Inventory - The quantity and value of animals you had on the start date of the report. This looks at birthdate, purchase date, and donated date prior to the start date. If the animal record has none of these, the "create date" when you added the record to your Farmbrite account will be used.
- Increase in Previous Value - This reflects any increase in value within the reporting date range for animals in that beginning inventory. All increases for all animals of this type are totaled and shown here.
- Purchases or Other Additions - How many animals were purchased within this date range, and what is their value as of the end date of the report? This also included any new records added within the date range that do not have birthdate, purchase date, or donated date supplied.
- Births - The total quantity and value of animals born within the date range, based on birthdate. These are births on farm, where the animal is marked as "raised on farm" (as opposed to purchased, or donated animals born within this date range).
- Gifted/Donated - The total quantity and value of animals donated within the date range, based on donated date. These are marked as gifted/donated (as opposed to purchased, or animals born within this date range).
- Total Additions - The summed quantity of gifted, born, donated, and added animals with the date range, with their total values included. The increase in previous value of your existing animals is also included in the amount.
- Subtotal - The total quantity and value of your beginning inventory and any additions within the date range.
Reductions
- Decrease in Value - This reflects any decrease in value within the reporting date range for animals within your beginning inventory. All increases for all animals of this type are totaled and shown here.
- Sales - The total quantity and value of any animals that were sold within the date range. This is based on the Date Sold field, and the amount the animal was sold for (provided on the bill of sale).
- Death or Losses - The total quantity and value of animals that died or were lost during this period. This includes both butchered and culled animals, and used the Date Deceased to determine when the animal died.
- Loss/Gain on Sales - This row shows any difference between the estimated value of an animal, and the amount it was sold for. This could be positive or negative, depending on if you sold the animal for profit above it's stated value, or a loss below.
- Total Deductions - The summed quantity of sold and deceased animals within the period, with their total values included. The decrease in previous value of your existing animals is also included in the amount.
- Net Change - The total overall change in the animal type's quantity and value. This sums the increases and decreases to display a net amount.
- Ending Inventory - The total ending quantity and value at the end of the date range.
These sections will repeat for each different Animal Type you track in Farmbrite.