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Phoenix 9 - User Help

Fin_setup_phys_acct_v8

Creating Physical accounts and sub-accounts is the same as creating any account in Phoenix Financial. When setting up a farm management Physical account, it is necessary to set the account as a Farm Management Account and allocate the account the sub-accounts to Farm Management Enterprises.

To allocate the sub-accounts to enterprises click the Fin_fm_acct_advconfig_v8 button at the top of the Account Setup screen.  See Physical Account Advanced Information Screen for details.

After allocating to an enterprise, depending on the type of enterprise, Phoenix Financial Pro will ask for some more specific technical details about the sub-account.

If Physical accounts have already been setup in Financial, then they can be converted to Farm Management accounts.

A breeding enterprise requires a minimum of three livestock sub-accounts to distinguish mature females, mature males and young animals.

Non-breeding livestock enterprises require only one sub-account, though more can be used if desired.

For Commodity accounts, the unit of measurement in which the commodity is usually traded must be specified. It is important that all entries made in the trading account are recorded in this unit.

If opening more than one commodity sub-account for similar product within an enterprise, use the same unit of measurement for each sub-account. Of course, dissimilar product may have different units, for example, grain and hay produced from the same crop may have different units.

After creating the sub-accounts, each needs to be opened using the Open sub-account button.

See also: Setup Physical Accounts

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