Want to learn more about how your Performance Beef feedlot invoice reports are calculated? Use the information below to have a clear understanding of each invoice report you run.
Note: Follow along with an invoice of your own to reference specific terms and values by following the steps in the Running Feedlot Invoice Reports to run an invoice prior to reading this article.
|Total Head Days vs. Days on Feed|
Total Head Days
→ This term refers to the number of days a group is on the yard, per head. Performance Beef uses the “hooves-on-the-lot at the end of the day” policy.
Example: A group of 5 head were received into your lot on January 1st. Another 20 head were added later on March 1st. When you sell all 25 head out of the group to close it on March 30th, there are 945 total number of head days.
→Cattle SOLD out of a group within the platform are not contributed towards the head days for the group on the day they are sold, because the animals are sold out before midnight.
Days on Feed
→ Strictly refers to the number of days the group has been on feed at your yard.
|Example: If the same group from above were sold out on March 30th, they would have a total of 119 days on feed.|
Note: Yardage, management fee, average head days, average days on feed, average feed intake/head/day and average daily gain can be affected by Total Head Days.
Average Days On Feed
|Avg days on feed = Total head days ÷ number of head|
|Example: 945 days ÷ 25 head = 37.8 days per head|
|Ingredient Cost Per Ton||The ingredient cost per ton is taken directly from the Inventory tab for each ingredient.|
Note: If you see an incorrect Ingredient Cost Per Ton value, there may be a price change during the selected invoice period. When a price change occurs within an invoice period, the platform will take the weighted average of the prices to ensure the accuracy of financial reports.
Shipped and Received Head: Invoice Period vs. Invoice Total
|Invoice Period||The term Current Invoice Period refers to the value or cost accrued for just the time period chosen at the top of the Reports, Invoice page.|
|Invoice Total||The term Invoice Total refers to the value or cost accrued from the time a group of cattle were entered into the platform through the invoice end date.|
Note: You may see this as a Head Shipped Total, Death Loss Total, Received Total, etc.
|Summary of All Feeding Expenses: Current Invoice Period vs. Total Through|
|Current Invoice Period||The term Current Invoice Period refers to the value or cost accrued for just the time period chosen at the top of the Reports, Invoice page.|
|Total Through||The term Total Through refers to the value or cost accrued from the time a group of cattle were entered into the platform through the invoice end date.|
Note: The Total Through columns on any invoice will display the current date for reference.
Note: All Invoice values are Deads-In calculations. Deads-In calculations do not pull out the costs associated with a group’s death loss. Please see the Reports Calculation Breakdown sheet if you need more information about each value on your feedlot invoice reports.
Performance Beef feedlot reports are available to you 24/7 to save you time and frustration, especially during billing cycles. Whether you are a custom feeder, or own your own cattle, understanding the terms and values used in these reports is important. Feedlot Invoices give you a range of values from the chosen invoice period to the entire time a group has been on your feedlot. Guesswork is eliminated and you can once again be confident you are billing your customers or yourself accurately.
Our Customer Success team is here to help. If you have questions, contact us by calling 515-337-2187 or email us at email@example.com. Be sure to take advantage of our complete resource library and how-to videos created to help you succeed.
Running Feedlot Invoice Reports - Whether you are a custom feeder or manage your own cattle, read this article to learn how to run a feedlot invoice report.
Running Custom Feedlot Invoice Reports - Read this article to dive deeper into your invoices by customizing each report to display the data that is most useful to your feedlot.
Updating Feed Ingredient Information - Adjust feed ingredient prices, dry matter percentages, NEg values, and NEm values for past dates.