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Flagship Technologies, Inc. -- Dec. 20, 1996 -- For immediate release.

ManagePLUS™, new farm accounting add-on for QuickBooks and Quicken is released...

New ManagePLUS™ software adds quantity
handling & management reports to QuickBooks
and Quicken accounting programs.

MADISON, MO -- Flagship Technologies, Inc. releases ManagePLUS™, a Microsoft Windows™-compatible computer program that adds new accounting features to the popular QuickBooks and Quicken programs.

Most important among the added features are enhanced handling of physical quantities, and reports showing per-unit income and cost for any account or enterprise class. These features let users gather income and cost information (including physical quantities) on a per-management-unit basis. For instance, a farmer can get reports showing average yield per acre for each farm, field, or acre of soybeans; pounds of a particular corn herbicide used per acre; total herbicide costs per acre for any crop; pounds of mineral supplement fed per beef cow; tractor repair costs per acre or per hour; and so on.

ManagePLUS works by adding new menu selections to the QuickBooks or Quicken menus, so it operates seamlessly within the QuickBooks or Quicken program environment. Users invoke ManagePLUS's added features just like any other part of their accounting program--and without leaving the accounting program or manually switching to another program.

ManangePLUS accomplishes this without altering any part of the host program or its files in any way.

But QuickBooks Already Handles Quantities, Doesn't It?

According to Mark Wilsdorf, president of Flagship Technologies, QuickBooks does an adequate job of handling quantities for expense transactions, but not for income: "QuickBooks won't let users enter quantity information in the Deposit window. And though quantities can be recorded by writing an Invoice for every income transaction, the Invoice window doesn't permit associating income with a particular 'class' [QuickBooks enterprise account]. Using QuickBooks' classes is an absolute must for tracking enterprise costs and incomes in a set of accounting records."

ManagePLUS circumvents QuickBooks' shortcomings by letting users enter quantities in either QuickBooks Quantity fields or in the Memo field of any transaction. "Now users can record quantity information wherever they want, even in the Deposits window.", said Wilsdorf.

Another QuickBooks limitation that its Inventory reports cannot be made to provide much management information. According to Mark Wilsdorf, "ManagePLUS overcomes this problem too, with reports that give users per-management-unit information. In other words, we don't just print out the quantity information users have entered; we show how quantities and dollar relate to management units--to an acre of crop, a head or hundredweight of livestock production, and so on."

Management Accounting a` la ManagePLUS

Management accounting (sometimes called cost or enterprise accounting) means keeping records which help to identify incomes and/or costs within specific parts of a business. These parts of the business are often referred to as enterprises or profit centers--activities intended to generate a profit--and cost centers--activities which mostly service the needs of profit centers; such as a combine which mostly exists to provide harvesting services to crop enterprises.

ManagePLUS's quantity-tracking capabilities can be used to keep as much or as little information as desired--all the way from tracking income and costs for a single enterprise or machine, to management accounting for all of the business's profit centers and cost centers.

For instance, a farmer who only wants information on the per-acre costs of operating his combine can choose to just enter quantity information for transactions related to the combine. ManagePLUS will then provide reports showing per-acre quantities (i.e., gallons of fuel) and costs for each category in the chart of accounts (fuel, repairs, insurance, etc.).

Here's an example of the information ManagePLUS can provide. The report fragment below shows the Income section of ManagePLUS' Profit & Loss Statement--an enhanced version of the QuickBooks Profit & Loss, providing detailed information about various enterprises. (In this example Corn, Soybeans, Alfalfa Hay, Grass Hay, and Combine are all QuickBooks "classes" or enterprises.)

Note: most of the information in this report was gleaned directly from transaction entries. No additional entries outside of QuickBooks were required except for the crop acreages and hours of Combine operation, which were entered into ManagePLUS.

                                                           % of              Quantity          $ per          No. of
                       QUANTITY      $/UNIT      TOTAL $  Account         per Production     Production     Production
                                                          $ Total              Unit             Unit           Units
 Ordinary Income
         Corn            40,000 bu.   $3.00   $120,000.00   48% of Grain     130.00 bu./acre = $389.61/acre on 308 acres
         Soybeans        20,000 bu.   $5.95   $119,000.00   48% of Grain      44.00 bu./acre = $262.11/acre on 454 acres
           TOTAL Grains  70,000               $239,000.00   96% of Grain
         UNASSIGNED       7,500                 11,375.00    5% of Grain
       Total Grain       77,500               $250,375.00   84% of Sales

       Hay & Pasture
         Alfalfa Hay        310 ton $106.00    $32,860.00   67% of Hay         3.10 ton/acre = $328.60/acre on 100 acres
         Grass Hay          234 ton  $68.00    $15,912.00   33% of Hay         2.60 ton/acre = $176.80/acre on  90 acres
           TOTAL Hay        544                $48,772.00
       Total Hay & Pasture  544                $48,772.00   15% of Sales

       Custom Work Income
         Combine            200 acre $25.00     $5,000.00  100% of Combine     0.33 acre/hour =  $8.33/hour on 600 hours
       Total Custom Work    200                 $5,000.00    2% of Sales

       Corn              40,000 bu.   $3.00   $120,000.00   40% of Sales
       Soybeans          20,000 bu.   $5.95   $119,000.00   39% of Sales
         TOTAL Grains    70,000               $239,000.00   79% of Sales

       Alfalfa              310 ton $106.00    $32,860.00   11% of Sales
       Grass & Mixed        234 ton  $68.00    $15,912.00    5% of Sales
         TOTAL Hay          544                $48,772.00   15% of Sales
           TOTAL Crops   70,544               $287,772.00   95% of Sales

       Combine              200 acre $25.00     $5,000.00    1% of Sales

       UNASSIGNED         7,500                 11,375.00    4% of Sales
     Total Sales         78,244               $304,147.00   98% of Income


And here is a fragment from the Expense section of the ManagePLUS Profit & Loss Statement.

                                                           % of              Quantity          $ per          No. of
                       QUANTITY      $/UNIT      TOTAL $  Account         per Production     Production     Production
                                                          $ Total              Unit             Unit           Units
         Corn               740 lbs   $3.10     $2,294.00  100% of Atrazine    2.40 lbs/acre =   $7.45/acre on 308 acres
           TOTAL Grains     740                 $2,294.00  100% of Atrazine
       Total Atrazine90     740                 $2,294.00   18% of Chemicals

       Dual II
         Corn                71 gal  $58.24     $4,135.04   39% of Dual II     0.23 gal/acre =  $13.43/acre on 308 acres
         Soybeans           109 gal  $59.03     $6,434.27   61% of Dual II     0.24 gal/acre =  $14.17/acre on 454 acres
           TOTAL Grains     180                $10,569.31  100% of Dual II
       Total Dual II        180                $12,863.31   82% of Chemicals


Click here for a graphical view of part of our ManagePLUS brochure, which illustrates report features added by ManagePLUS.

Who Will Use ManagePLUS?

Farming operations, orchards, nurseries, contractors, and other businesses will use ManagePLUS...any business where per-management-unit information is useful in management decisions and planning.

Availability and Pricing

ManagePLUS for QuickBooks is shipping now. The Quicken version will be available by the end of 1997. For current product prices and ordering information see Flagship's online order form.

For more information about ManagePLUS, visit the ManagePLUS Product Information page or contact Flagship Technologies by any of the means listed at the end of this article.

About Flagship Technologies

Flagship Technologies, Inc., is located at Madison, Missouri. The company's primary focus is on developing and marketing agricultural software products, including the ManagePLUS for QuickBooks™ and ManagePLUS for Quicken™ farm accounting add-ons for QuickBooks and Quicken, as well as other software products and training materials. The company can be contacted by these means:

Postal address: Flagship Technologies, Inc.
14976 Monroe Rd. 1039
Madison, MO 65263
World Wide Web: http://www.goflagship.com
Email: sales@goflagship.com (sales information)
(other information)
(technical support)
Telephone: 660-291-3000 (sales and order questions only)

Prices and specifications are subject to change without notice. ManagePLUS is a trademark of Flagship Technologies, Inc. QuickBooks and Quicken are registered trademarks of Intuit.

Links to related topics...
  ManagePLUS for Quicken news release.
  Quicken and QuickBooks farm accounting articles
  ManagePLUS Profit & Loss report (36K image) -- shows report features added by ManagePLUS.
  ManagePLUS isn't just for farm accounting! -- describes how ManagePLUS is being used in non-farm businesses.

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