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Assigning Costs to Resources

Last Updated: Nov 13, 2017 03:57PM EST


By entering in a cost for each of your resources (Staff, Machinery, and Supplies) and then assigning these resources to activities in your calendar, you can effectively track the total resource quantities and costs that go into growing each one of your plantings and crops in AgSquared.  Assigning costs to resources in AgSquared is done in Resources.



Assigning Costs to Supplies and Machinery


Open a New or Edit Supply/Machinery form, enter in the resource name and details if you haven’t already, and then check Track cost by Activity:


 


 

When you check Track Cost By Activity, you will have the option to enter in how you want to track your resource cost: either by Time Cost or Unit Cost (for a description of the difference between these two, click here). Choose the appropriate method for tracking the cost of the given resource, and then add the amount of dollars per unit of measurement.

 



Assigning Costs To Staff


To keep track of the labor costs on your farm, it is necessary to enter in a wage for each of your staff members. To do so, go to Staff (under Resources), click on the Staff icon, and in the New or Edit Staff form click on Cost Tracking to reveal the wage entry form and enter in the appropriate wage:

 




Note: Staff members' wages are by default set at $0/hour.  If you assigned a staff member without a wage to activities in our calendar, their total number of hours will still be tallied up associated cost tabs, but without any associated costs.

 

Time Cost vs. Unit Cost


AgSquared has set default cost measurements for each type of resource you can add to your account:

Supplies Default to Unit Cost: Typically supplies are used in specific “unit amounts”.  This could include fertilizer, irrigation hose, seeds, etc.

Machinery Default to Time Cost: It is common for the cost of operating a piece of machinery to be recorded as a time cost that is calculated based on the machinery’s maintenance, fuel, and operating costs.  For example, a common way to calculate the cost of operating a tractor is:
 

(Total cost of tractor ÷ by projected life span) + (average annual repairs and fuel expenses) ÷ by the average number of hours used per year = cost per hour


A similar equation would be used for a tractor implement, however it would exclude the fuel cost.

If you track a machine or supply's cost differently than the default setting, you can always change the cost measurement for that resource:

 



Staff members’ labor can ONLY be tracked by Time ($/hour or $/minute).
 



Units of Measurement when tracking by Unit

When adding a unit cost to a resource, keep in mind that once you add a unit of measurement you will be limited to that unit when tracking activity costs for that resource in the Activity Completion form.  For example, if you are tracking your granular kelp fertilizer by the ounce, then you will only be able track activity costs in weight measurements like kg, ounces, lbs or bushels.  

 


Above: the Cost per Unit section of the Add/Edit Resource form



Above: Adding resource costs to the More Activity Completion form

 

The unit of measurement types in AgSquared are:

Weight which includes - Bushel, Gram, Kilogram, Ounce and Pound

Volume which includes - Milliliter, Liter, Pint, Fluid Ounce and Gallon

Length which includes - Centimeter, Meter, Yard, Inch and Foot

Unit - Using a generic measurement of “units” offers flexibility because you can define a unit as a quantity that is most meaningful to you.  



Crop and Planting Cost Tracking

Once you assign a cost to a resource, you can then track how much in dollars and in quantity of each resource you’ve spent on each of your crops and plantings.  This is done by assigning resources to activities that are linked with plantings, marking these activities as complete, and then reviewing in the cost tab.  To learn more, see this article on cost accounting.

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