Farm Accounting Record (Cash Basis)

Size: px

Start display at page:

Download "Farm Accounting Record (Cash Basis)"

Jason Jefferson
5 years ago
Views:

1 Farm Accounting Record (Cash Basis) For the Year Dalmeny Accounting Services Ltd. Box rd Street Dalmeny, Sask. S0K 1E0 Phone (306) Fax (306) Web Site marc@dalmenyaccounting.ca

2 Goods & Services Tax Summary 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter GST Paid on Expenses Expenses (1) Total on Expenses GST on Personal Portion Power House Fuel House Repairs Telephone Vehicle Meals & Entertainment Other (2) Total Personal Portion (3) GST Recoverable (1)-(2) GST on Capital Assets Less: Personal Portion (4) GST Recoverable on Capital Assets GST Deemed Collected on Income that was subject to GST GST Collected on Asset Sales (5) Total GST Deemed Collected GST Recoverable (3) + (4) (5) GST Recovered On Expenses (3) above Report as Income - received On Capital Assets (4) above This was not included in Cost therefore do not include in income

3 Date Description Wheat

4 Date Description Oats

5 Date Description Barley

6 Date Description Rye

7 Date Description Flax

8 Date Description Canola

9 Date Description Cattle & Calves

10 Date Description Hogs

11 Date Description Poultry

12 Date Description Other Livestock

13 Date Description Dairy Products

14 Date Description Dairy Products

15 Date Description Mustard Date Description Hay Date Description Straw

16 Date Description Wheat Board Payments Date Description Patronage Dividends Date Description Western Grain Stabilization

17 Date Description Rebates Date Description Subsidies Date Description Insurance Proceeds

18 Date Description Other

19 Date Description Other

20 Date Description Other

21 Income Subject to GST Income Exclude GST Note: Show full amount of GST, whether or not you received all the amount due you

22 Income Subject to GST Income Exclude GST Note: Show full amount of GST, whether or not you received all the amount due you

23 Expenses- Dairy & Livestock Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

24 Expenses- Dairy & Livestock Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

25 Expenses- Machinery Repairs & Hardware Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

26 Expenses- Farm Fuel & Oil Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

27 Expenses- Car Gas & Oil Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

28 Expenses- Car Repair Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

29 Expenses- Truck Repairs Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

30 Expenses- Truck Gas & Oil Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

31 Expenses- Building & Fence Repairs Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

32 Expenses- Feed Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

33 Expenses- Other Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

34 Expenses- Vet Fees & Medicine Expenses- Postage & Office Supplies Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

35 Expenses- Fertilizer & Sprays Expenses- Seed & Cleaning Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

36 Expenses- Small Tools Expenses- Custom Work Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

37 Expenses- House Fuel Expenses- Power Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

38 Expenses- Phone Expenses- House Repairs & Insurance Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

39 Expenses- Other Expenses- Other Note: Show full amount of GST, whether or not the expense is not paid or fully paid.

40 Expenses- No GST- Other Expenses- No GST- Other Note: Show full amount of GST, whether or not the expense is not paid or not fully paid.

41 Bank Deposit Record Date Deposited From Amount Date Deposited From Total Forwarded Amount Total Total

42 Purchases of Business Property Date Description of Property GST Amount (no tax) Disposition of Business Property Date Description of Property GST Amount (no tax)

43 Inventory (Year End) Description Grade or Type No. Bushels or stock Average price per unit Total Value Totals Deferred Grain Tickets Grain Company Due Date Number of Bushels Type of Grain Amount Totals Basic Herd Inventory Cattle Swine Sheep Other (Dollar Value)

44 Loan Payment Record Payment Record Date Description Interest Grain Advances Principal ONLY on Land Building Operating House Other Loans Totals

45 Wages Paid Deductions Pay Period Name S.I.N. Cash Wages Board & Room Total Wages Income Tax Canada Pension U.I.C. Total Deduction Net Wages Total

Statement of Farming Activities

Statement of Farming Activities Use this form to calculate your self-employment farming income. For each farming business, fill in a separate Form T0. Fill in this form and send it with your income tax