Grain Profit and Loss

The Profit and Loss reports are found at Grain / G/L Posting Reports / Profit and Loss.

The Grain Inventory report can be found at Grain / G/L Posting Reports / Grain G/L Posting Reports. Information from this report is included in formulas below.

Subtotaling Levels can be set up by adding/editing a Grain Ledger Account at Setup / Grain Ledger Accounts. On the Account Setup tab, select a Type. The Subtotaling types are Level 2 Total - Level 9 Total. It is important to have the Sequence populated This determines where in the Profit and Loss report the Subtotal Account will be displayed.

On the Profit and Loss reports, the levels that are higher reset all lower levels to zero until it reaches a level equal to or higher. For example, if a Level 3 Total is displayed, the Level 2 Total prior to it will reset to 0.

In the above example, the Merchandise Total account is a subtotal of the Merch account. The Total for Grain account is a subtotal of the Barley-Grain through Wheat-Grain accounts. The Total Merch and Grain account is a total of all the accounts excluding the Merchandise Total and Total for Grain accounts.

The Profit and Loss reports (Preliminary and Final) can be by Store Receipts or Store Purchases. Indicate this preference on the Posting tab at Grain / Setup / Preferences. Details regarding each option are available on the tabs below.

By Store Receipts

Preliminary and Final Profit and Loss - Dollars

• Beginning Inventory – Beginning of Year Inventory Value found at Grain / Setup / Grain Ledger Accounts on the Grain Units tab for the Commodity.
• Storage Liability – For the following formulas, the Beginning of Year Units, Contract Types, Unpriced Assembly Value, and Priced Assembly Value are found at Grain / Setup / Grain Ledger Accounts on the Grain Units tab. Storage Liability is calculated as follows:
  • (Beginning of Year Units + YTD Units on issued accounts - YTD Units on bought accounts) * Current price for each Contract type
  • On the Grain Inventory report:
    • Current Price page - Unpriced Assembly Value OR
    • Current Price page - Priced Assembly Value OR
    • The Current Price page
• Closing Inventory – (Beginning Inventory + Received Units - Sales - Redelivered - In-Transit) * Current Price (found at Grain / Setup / Grain Ledger Accounts on the Grain Units tab)
  • It can also be found on the Grain Inventory Report's Current Inventory page. If the DPR has been overridden, the DPR number entered on the Grain Units tab multiplied by the current price will be used.

Preliminary and Final Profit and Loss - Units

• Beginning Inventory – Beginning of Year Total Inventory Units found at Grain / Setup / Grain Ledger Accounts on the Grain Units tab for the Commodity.
• Storage Liability – For the following formula, the Beginning of Year Units are found on the Grain Units tab.
  • Beginning of Year Units + YTD units on the issued accounts - YTD units on the bought accounts for each Contract type
  • Storage Liability can also be found on the Grain Inventory Report's Current Price page as a total of all the Contracts’ values.
• Closing Inventory – Beginning Inventory + Received Units - Sales - Redelivered - In-Transit
  • It can also be found on the Grain Inventory Report's Current Inventory page. If the DPR has been overridden, the DPR number entered on the Grain Units tab will be used.

Preliminary Profit and Loss - Dollars

• Receipts – Purchase account + Bought account + Change in Company-Owned Inventory
  Note: Calculations for the Change in Company-Owned Inventory are from the Grain Inventory report to generate the JE.
  • Change in Company Owned Inventory – Beginning Company Owned Inventory - Current Company Owned Inventory
    • Beginning Company Owned Inventory – The following balances can be found on the Grain Ledger Account's Grain Units tab in the Beginning of Year section or on the Grain Inventory report's Beginning of Year Inventory Pricing page. Beginning Company Owned Inventory is calculated as: Total Inventory - Total Storage - Priced Later - Grain Bank - Basis Fixed - Future Fixed - Minimum Priced - Hedge-to-Arrive
    • Current Company Owned Inventory – The following balances can be found on the Grain Inventory report's Current Inventory Pricing and Assembly & In-transit Pricing pages. Current Company-Owned Inventory is calculated as follows: Inventory - Storage - Priced Later - Grain Bank - Basis Fixed - Future Fixed - Minimum Priced - Hedged-to-Arrive - Open Assembly - Priced Assembly + In-Transit Inventory + In-Transit Adjustment
      • In-Transit Inventory Value – In-Transit Sold Current Units + In-Transit Priced Later Current Units * Current Price.
        Note: Information for this formula can be found on the Grain Ledger Account's Grain Units tab.
      • Value of In-Transit – In-Transit Sold Current Units * In-Transit Sold Price + In-Transit Priced Later Current Units * In-Transit Priced Later price
        Note: Information for this formula can be found on the Grain Ledger Account's Grain Units tab.
• Gross Profit – Sales - Receipts
  • Sales account balance - Purchase account balance - Bought account balances for each Contract type - Charge in company owned inventory (calculation is found with the - column).

Preliminary Profit and Loss - Units

• Gross Profit – Sales - Receipts
  • Sales account balance - Purchase account balance - Bought account balances for each Contract type - Change in company-owned inventory (calculation is found with the Receipts column).

Final Profit and Loss - Dollars

• Receipts – Purchase account dollars + YTD bought account dollars for each Contract type
• Gross Profit – Sales - Receipts
  • Sales account balance - Purchase account balance - Bought account balances for each Contract Type

Final Profit and Loss - Units

• Receipts – YTD purchase account units + YTD issued account for each Contract Type + Unpriced Assembly units + Priced Assembly units
  Note: The Unpriced and Priced Assembly Units can be found on the Grain Ledger Account's Grain Units tab.
• Gross Profit – Sales - Receipts
  • Sales account balance - Purchase account balance - Bought account balances for each Contract Type

By Store Purchases

Preliminary and Final Profit and Loss - Dollars

• Beginning Inventory – Beginning of Year Total Inventory Value found at Grain / Setup / Grain Ledger Accounts on the Grain Units tab for the Commodity.
• Storage Liability – For the following formula, the Beginning of Year Units, Contract Types, Unpriced Assembly Value, and Priced Assembly Value are found at Grain / Setup / Grain Ledger Accounts on the Grain Units tab.
  • (Beginning of Year Units + YTD units on the issued accounts - YTD units on the bought accounts) * current price for each Contract Type
  • On the Grain Inventory report:
    • Current Price page - Unpriced Assembly Value
    • Current Price page - Priced Assembly Value
    • Current Price page
• Closing Inventory – (Beginning Inventory + Received Units - Sales - Redelivered - In-Transit) * Current Price (found on the Grain Ledger Account's Grain Units tab)
  • It can also be found on the Grain Inventory report's Current Inventory page. If the DPR has been overridden, the DPR number entered on the Grain Units tab will be used.
• Sales – Sales account balance
• Sales Units – YTD Sales Account Units
• Margin – Gross Profit / Sales Units
  Note: If the Margin is by %, then it is calculated as follows: Gross Profit / Sales Amount * 100

Preliminary and Final Profit and Loss - Units

• Beginning Inventory – Beginning of Year Total Inventory Units found at Grain / Setup / Grain Ledger Accounts on the Grain Units tab for the Commodity.
• Storage Liability – For the following formula, the Beginning of Year Units are found on the Grain Units tab at Grain / Setup / Grain Ledger Accounts.
  • Beginning of Year Units + YTD units on issued accounts - YTD units on bought accounts for each Contract Type
  • Storage Liability can also be found on the Grain Inventory report's Current Price page as a total of all the Contracts' values.
• Closing Inventory – Beginning Inventory + Received Units - Sales - Redelivered - In-Transit
  • It can also be found on the Grain Inventory report's Current Inventory page. If the DPR has been overridden, the DPR number entered on the Grain Units tab will be used.
• Sales – YTD Sales account units
• Sales Units – YTD Sales Account Units
• Margin – Gross Profit / Sales Units
  Note: If the Margin is by %, then it is calculated as follows: Gross Profit / Sales Amount * 100

Preliminary Profit and Loss - Dollars

• Cost of Sales – Purchase account units * Current price + Bought account units * Current price for each Contract Type + Change in Company-Owned Inventory
  • Change in Company-Owned Inventory – Beginning Company-Owned Inventory - Current Company-Owned Inventory
  • Beginning Company-Owned Inventory – The following balances can be found on the Grain Ledger Account's Grain Units tab in the Beginning of Year section or on the Grain Inventory report's Beginning of Year Inventory Pricing page. Beginning Company Owned Inventory is calculated as: Total Inventory - Total Storage - Priced Later - Grain Bank - Basis Fixed - Future Fixed - Minimum Priced - Hedge-to-Arrive
  • Current Company-Owned Inventory – The following balances can be found on the Grain Inventory report's Current Inventory Pricing and Current Pricing pages. Current Company Owned Inventory is calculated as follows: Inventory - Storage - Priced Later - Grain Bank - Basis Fixed - Future Fixed - Minimum Priced - Hedged-to-Arrive + In-Transit Inventory Value + In-Transit Adjustment.
    • In-Transit Inventory Value – (In-transit sold current units + In-transit Priced Later units) * Current price
      Note: This information can be found on the Grain Ledger Account's Grain Units tab.
    • In-Transit Adjustment – In-Transit Inventory Value - Value of In-Transit
      • Value of In-Transit – In-transit sold current units * (In-transit sold price + In-transit Priced Later Current Units) * In-Transit Priced Later price
        Note: All of this information can be found on the Grain Ledger Account's Grain Units tab.
• Gross Profit – Sales - Receipts
  Note: Calculated as Sales account balance - Purchase account balance - Bought account balances for each Contract Type - Charge in company-owned inventory (calculation found with Receipts column)

Preliminary Profit and Loss - Units

• Cost of Sales – YTD purchase account units + YTD bought account units for each Contract Type
• Gross Profit – Sales - Receipts
  Note: Calculated as Sales account balance - Purchase account balance - Bought account balances for each Contract Type - Charge in company-owned inventory (calculation found with Receipts column)

Final Profit and Loss - Dollars

• Cost of Sales – Purchase account dollars + YTD bough account dollars for each Contract Type
• Gross Profit – Sales - Receipts
  Note: Calculated as Sales account balance - Purchase account balance - Bought account balances for each Contract Type

Final Profit and Loss - Units

• Cost of Sales – YTD purchase account units + YTD issued account for each Contract Type + Unpriced Assembly Units + Priced Assembly Units
  Note: The Unpriced and Priced Assembly Units can be found on the Grain Ledger Account's Grain Units tab.
• Gross Profit – Sales - Receipts
  Note: Calculated as Sales account balance - Purchase account balance - Bought account balances for each Contract Type