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Livestock

Farmer_FrankFarmer_Frank Member Posts: 13

What is the best way to track my livestock? I can track the purchase costs for them when I buy them and the sale price when I sell them but what about the ones that are born? How do I indicate that the number of head have grown? Also, how would I categorize one that died?

edited March 30, 2021 in Accounting Technical Support

Comments

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @Farmer_Frank , sorry to hear that you've had a tough time with one of your cattle! To be fully transparent with you, there are a lot of variable involved here. It truly depends on what you use your livestock for, as you have different options on how to record them i.e inventory or assets. AT the moment, we don't support inventory in Wave, although if you're looking to track capital assets in Wave and [depreciate these assets article](for more information on how to depreciate your assets), check out the two Help Center articles linked above as an intro to these methods.

    Either way though, I'd highly recommend that you reach out to an accountant on this one. They'd be able to offer some additional insight as well as personalize the feedback based on your situation.

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