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Hannes

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My first year with hives on the accounts. What do your accounts value a hive at. What do you book as assets and what is consumables? 

Thanks 

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Find an accountant that has other beekeepers on the books is my advice, otherwise it’s a pain in the butt.

I just look on trademe for hive value

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16 hours ago, Hannes said:

My first year with hives on the accounts. What do your accounts value a hive at. What do you book as assets and what is consumables? 

Thanks 

Break down a hive into each component, you will know what each item is worth. Times that by how ever many you have , plus supers etc. add value of bees to that. 

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Would you add the value of the bees to your stock?  The likes of cattle and sheep have a set value from the IRD. It is way under what market value is for them but that is the set value. If you are a retailer you show stock on hand at cost. Should we show a hive at cost? When you through out that old frame, is it stock or consumables? 

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Like @daley said, find an accountant who knows about beekeeping and they’ll have all the answers. There’s one that advertises in the beekeeper mag. 

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My accountant keeps income and expenditure from beehives seperate from other income (beef).

Tricky question, if I bought a beehive it would be stock, but hiveware is consumable.

its always been stock on hand as at 31 march every year.

 

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Doesn't sound like a hobby operation to me !

  • Agree 1

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It starts as hobby, then it becomes an addiction.

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Just now, Bee Good said:

It starts as hobby, then it becomes an addiction.

I've managed to keep mine under control since 1981. My population builds up a bit at swarm time but always recedes again. 

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I don’t have to tell my accountant anything, he knows what he’s doing, which is good because otherwise I could guarantee I would tell him wrong.

 

I give him bank statements, invoices and receipts.

He does magic to them, and says pay IRD this much, and pay me this much.

All I did at the start was tell him how many hives I had and come up with a figure of what they are worth, he does quite a few beekeepers so he knows where to put everything and he used to be an auditor for IRD so I know there’s not going to be any ugly come backs.

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