We’ve been hard at work building new tools to help farms create, manage, and analyze their Balance Sheets. Now available in the Ambrook app!
Automatic, Interactive Balance Sheet
You’ll see a new Balances section in your Ambrook Dashboard. Check how much current capital is available for an upcoming purchase, or speed up producing form for financiers. Whatever you need from your Balance Sheet, we want you to help you handle it here!
Some accounts are managed in Ambrook, like A/R and AP, Ambrook Wallet and Cards, Cash On Hand, Outstanding Checks, and more. These automatically sync and never get out-of-date in your reports.
Current & Long-Term Capital
Ambrook calculates the sum of your current assets and liabilities into Current Capital, which many of our customers use to ensure cashflow for purchasing and investing decisions.
Long-Term Capital is the sum of long-term assets, liabilities, and equities, which is a helpful reference for extended projects and any business transitions.
Custom Accounts
You’ve been able to sync bank accounts and credit cards into Ambrook, and import fixed assets and liabilities from QuickBooks. Going forward, you’ll be able to manage these in an ongoing fashion, updating balances and adding accounts as the operation changes.
Here is a list of the custom account types available:
Current Assets: Banks, Inventory, Accrued Assets, Cryptocurrency
Long-Term Assets: Land, Structures, Vehicles, Equipment, Investments
Current Liabilities: Credit Cards, Lines of Credit, Accrued Liabilities
Long-Term Liabilities: Loans, Mortgages
Equity
And for anything that doesn’t quite fit, there’s always Other.
Over time, these account will store important information tailored to each asset, liability, and equity in your business. For now, all you need to get started is the current balance!
Balance Adjustments
Custom accounts can be updated to display the current balance at any time, accounting for inventory changes, market values, depreciation or appreciation, and more. Whenever you change the balance, Ambrook records an Adjustment Entry in your Ledger to keep bookkeeping in sync.
Your new interactive Balance Sheets are packed with more benefits that make balancing accounts simple for farmers and accountants alike.
Ambrook calculates your Remaining Balance in the Equity section, so that
Equity = Assets - Liabilities. Reference this amount to catch any missing or out-of-date balances before sharing financials externally.Point Of Sale accounts—like Square—can be synced into Balances, displaying live farmers market revenue or online sales all in one place, even before you cash out to the bank.
Your Ledger now has unique graphics that make each account’s transactions quick to find at a glance.
The organization’s Balances section will no longer show in sub-dashboards for Entities or Enterprises, so account ownership won’t be misread.
Our Support team can help you move any existing accounts in your Ambrook account to this new, interactive system. Contact us for help getting started!
We have more ideas in the works to make balancing your books and producing financial documents both easy and powerful. Let us know how this is working for you, and what you’d like to see next to improve your experience!
