Money and Farming


F

frankd

I just purchased the Small Business version of MS Money
2004. In addition to my household accounts I have a farm
business, which is why I purchased the software. I
noticed in the software the only schedule utilized
is "C". Is there a good reference book or a template
that goes into some detail of intergrating Money and the
farm accounts found on Schedule "F", with the intent of
self on-line tax filing. Thank you VERY much for your
assistance.
 
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C

Cal Learner-- MVP

I just purchased the Small Business version of MS Money
2004. In addition to my household accounts I have a farm
business, which is why I purchased the software. I
noticed in the software the only schedule utilized
is "C". Is there a good reference book or a template
that goes into some detail of intergrating Money and the
farm accounts found on Schedule "F", with the intent of
self on-line tax filing. Thank you VERY much for your
assistance.
I don't use Small Business version, but I don't know that it is
written up. Perhaps others can give their experience. I did some
looking around.

If you go to Taxes->->AssignMoneyCategoriesToMatchLinesOnATaxForm,
you can select a category. If it is not already assigned to a tax
form, you can check the IncludeOnTaxReports box. Select schedule F
from the drop-down list, and select the form line.

If it is already assigned, you can change the assignment. So it
seems that somebody would have gone through the process and posted
their data; that would make at least a very good starting point for
you.

I see that the University of Illinois has a write-up for Quicken.
http://www.farmdoc.uiuc.edu/manage/quicken/quicken.htmlIt references
a download that somehow provides the categories. I don't know if
that somehow downloads the tax form line.

However http://www.turbotax.com/txf/TXF037.htm gives information
that looks as if it could be useful; here is the schedule F data:

===============================================================
:0 343 "Schedule F" Y N I 1 2000:F
:2 514 "Spouse" Y N S 0 2000:F
:2 543 "Car and truck expense" Y N E 1 2000:F:12
:2 344 "Labor hired" Y N E 1 2000:F:24
:2 345 "Repairs and maintenance" Y N E 1 2000:F:27
:2 346 "Interest expense-mort" Y N E 1 2000:F:23a
:2 347 "Interest expense-other" Y N E 1 2000:F:23b
:2 348 "Rent-land, animals" Y N E 1 2000:F:26b
:2 349 "Rent-veh., mach., equip." Y N E 1 2000:F:26a
:2 350 "Feed purchased" Y N E 1 2000:F:18
:2 351 "Seed and plants purchased" Y N E 1 2000:F:28
:2 352 "Fertilizers and lime" Y N E 1 2000:F:19
:2 353 "Supplies purchased" Y N E 1 2000:F:30
:2 355 "Vet, breeding and medicine" Y N E 1 2000:F:33
:2 356 "Gasoline, fuel, oil" Y N E 1 2000:F:21
:2 357 "Storage and warehousing" Y N E 1 2000:F:29
:2 358 "Taxes" Y N E 1 2000:F:31
:2 359 "Insurance (not health)" Y N E 1 2000:F:22
:2 360 "Utilities" Y N E 1 2000:F:32
:2 361 "Freight and trucking" Y N E 1 2000:F:20
:2 362 "Conservation expense" Y N E 1 2000:F:14
:2 363 "Pension and profit shrg" Y N E 1 2000:F:25
:2 364 "Employee benefit prog." Y N E 1 2000:F:17
:2 365 "Other farm expenses" Y C E 3 2000:F:34
:2 366 "Chemicals" Y N E 1 2000:F:13
:2 367 "Custom hire (mach. work)" Y N E 1 2000:F:15
:2 368 "Sales livestock/crops raised" Y N I 1 2000:F:4
:2 369 "Resales of livestock" Y N I 1 2000:F:1
:2 370 "Custom hire (machine work)" Y N I 1 2000:F:9
:2 371 "Coop. distributions" Y N I 1 2000:F:5a
:2 372 "Agric. pgm payments" Y N I 1 2000:F:6a
:2 373 "CCC loans-election" Y N I 1 2000:F:7a
:2 374 "CCC loans-forfeited" Y N I 1 2000:F:7b
:2 375 "Crop ins. proceeds-recd" Y N I 1 2000:F:8a
:2 376 "Crop ins. proceeds-defd" Y N I 1 2000:F:8d
:2 377 "Other farm income" Y N I 1 2000:F:10
:2 378 "Cost livestock for resale" Y N E 1 2000:F:2
:2 379 "Principal product" Y N S 2 2000:F:A

==================================================================

I believe that means that when the line ends with "2000:F:29", that
item goes to line 29 of schedule F on the 2000 version of the form.
I spot-checked, and the 2003 version of the form indeed is "Storage,
warehousing". I made a Google search for the *2003* version of the
info. Here is the search
http://www.google.com/search?hl=en&ie=UTF-8&oe=UTF-8&q='2003:F:29"+Storage++warehousing&btnG=Google+Search
that finds the 2003 version of the same file.


So given that info, you could make/modify the appropriate
categories. Then when you create the .txf file for TurboTax or
TaxCut, the data would be summed into the correct categories.

So if you take notes during your process, you could post your
experiences for others. And perhaps others will have better
information for you already.
 
C

Cal Learner-- MVP

In said:
So given that info, you could make/modify the appropriate
categories. Then when you create the .txf file for TurboTax or
TaxCut, the data would be summed into the correct categories.
Note that I could post a QIF file with some small fake transactions
that would save you from typing in the categories. While the tax
line info would not be there, I could add the schedule F line number
as part of the category name to assist you in manually entering the
line numbers as you use the categories.

Let me know if you would want these as main categories or all as
sub-categories under perhaps a main category of Farm. Perhaps the
main category could be Farm Expense or Farm Income as appropriate.

The plan would be to import the QIF into a temporary account.
Process the data including identifying what group this would be etc.
Later you could delete the temporary account, and the categories
would remain.

You could also pre-edit the QIF file to remove categories you know
you will not use.
 
F

frankd

Cal,
I would like to accept your offer to help with the QIF
file and I like your suggestion of the accounts being sub-
accounts beneath Farm Income and Expenses.
Thank you very much for your help. Frankd
 
C

Cal Learner-- MVP

Cal,
I would like to accept your offer to help with the QIF
file and I like your suggestion of the accounts being sub-
accounts beneath Farm Income and Expenses.
Thank you very much for your help. Frankd
Put the section starting with the "!Type:Bank" line and ending with
the last "^" line into a file named FarmCats.qif. Cutting and
pasting into Notepad would be a good way to accomplish this. The
data is located at the end of this file.


File->Import the FarmCats.qif file as a New or Recovered Account.
into a new empty checking account. You don't have to create the
account in advance; you can click the Create Account button. You
can also select that this account is not held in any bank. Money
may chug for a while as it adds 35 categories. Take a break.

If you look at the register of the new fake account, you can
toggle with Ctrl+T whether the categories show. I decided to not
make a fake payee for the transactions.

There are 25 Income categories and 10 Expense categories. The
temporary account should end up with $0.15 cents as a result of the
import. You can delete that account when done. The categories
remain.

In Accounts&Bills->Categories&Payees->Payees you can select each
category and modify the details. Check the IncludeOnTaxReports
box. Select schedule F from the drop-down list, and select the
form line and select the form line. This did not work the way I
expected before I tested it! I thought there would be a numeric
entry, and instead the alphabetic description was there. So the
line number would not have been required in the name, but I left it
there. Won't hurt,and could be helpful some time. Enter 1 for
Form Copy unless you have more than one schedule F. I guess there
would be a different set of categories for each farm.

You may want to adjust
Tools->Options->UseASingleListForCategoriesAndSubcategories... I
uncheck that one, but you may prefer the other way.

Post how it works out and what would have made it work better.

---------------- FARMCATS.qif contents follow: ---------------
!Type:Bank
D01/01'04
T-0.01
LFarm Exp:Car and truck expense-F12
^
D01/01'04
T-0.01
LFarm Exp:Labor hired-F24
^
D01/01'04
T-0.01
LFarm Exp:Repairs and maintenance-F27
^
D01/01'04
T-0.01
LFarm Exp:Interest expense-mort-F23a
^
D01/01'04
T-0.01
LFarm Exp:Interest expense-other-F23b
^
D01/01'04
T-0.01
LFarm Exp:Rent-land, animals-F26b
^
D01/01'04
T-0.01
LFarm Exp:Rent-veh., mach., equip.-F26a
^
D01/01'04
T-0.01
LFarm Exp:Feed purchased-F18
^
D01/01'04
T-0.01
LFarm Exp:Seed and plants purchased-F28
^
D01/01'04
T-0.01
LFarm Exp:Fertilizers and lime-F19
^
D01/01'04
T-0.01
LFarm Exp:Supplies purchased-F30
^
D01/01'04
T-0.01
LFarm Exp:Vet, breeding and medicine-F33
^
D01/01'04
T-0.01
LFarm Exp:Gasoline, fuel, oil-F21
^
D01/01'04
T-0.01
LFarm Exp:Storage and warehousing-F29
^
D01/01'04
T-0.01
LFarm Exp:Taxes-F31
^
D01/01'04
T-0.01
LFarm Exp:Insurance (not health)-F22
^
D01/01'04
T-0.01
LFarm Exp:Utilities-F32
^
D01/01'04
T-0.01
LFarm Exp:Freight and trucking-F20
^
D01/01'04
T-0.01
LFarm Exp:Conservation expense-F14
^
D01/01'04
T-0.01
LFarm Exp:pension and profit shrg-F25
^
D01/01'04
T-0.01
LFarm Exp:Employee benefit prog.-F17
^
D01/01'04
T-0.01
LFarm Exp:Other farm expenses-F34
^
D01/01'04
T-0.01
LFarm Exp:Chemicals-F13
^
D01/01'04
T-0.01
LFarm Exp:Custom hire (mach. work)-F15
^
D01/01'04
T0.01
LFarm Inc:Sales livestock/crops raised-F4
^
D01/01'04
T0.01
LFarm Inc:Resales of livestock-F1
^
D01/01'04
T0.01
LFarm Inc:Custom hire (machine work)-F9
^
D01/01'04
T0.01
LFarm Inc:Coop. distributions-F5a
^
D01/01'04
T0.01
LFarm Inc:Agric. pgm payments-F6a
^
D01/01'04
T0.01
LFarm Inc:CCC loans-election-F7a
^
D01/01'04
T0.01
LFarm Inc:CCC loans-forfeited-F7b
^
D01/01'04
T0.01
LFarm Inc:Crop ins. proceeds-recd-F8a
^
D01/01'04
T0.01
LFarm Inc:Crop ins. proceeds-defd-F8d
^
D01/01'04
T0.01
LFarm Inc:Other farm income-F10
^
D01/01'04
T-0.01
LFarm Exp:Cost livestock for resale-F2
^
 
B

bumper9s

Cal, Thank you very much for your assistance and above
the time you invested to help me. I am presently at work
and I will be able to invest some good time with your
work and the software this weekend (since rain is
predicted and I'll not be able to do much fence work).
Again, thank you very much. Frank Dillman
 
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F

frankd

Cal,
Thank you very much for your help. Imported your work
very nicely and placed the accounts onto Schedule F. I
half way started to create some of the farm accounts from
the schedule C form before asking for help. Went back
and changed them to Schedule C.
Will take some getting used to as considerably different
from MoneyCounts I have been using since 1992!
Thank you very much. People like you and the
availability of help from these newsgroups encourage me
to purchase microsoft products like Money as compared to
Quicken.
 

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