Recording a Canadian Canola Growers Association advance

Canadian Canola Growers Association (CCGA) advances are available to producers in Alberta, British Columbia, Manitoba and Saskatchewan who grow eligible crops. The maximum allowable advance is $400,000.

You’ll need to enter a deposit in AgExpert Accounting when you receive a CCGA advance by selecting Deposit from the Quick Action Menu.

You will need to enter the Customer, Bank account, Date and Reference (optional).

In the Details portion of the page, you will enter a line to increase the loan amount ($100,000) and a line to show the admin fee that was withheld.  The Total will show the amount ($99,842.50) to be deposited to your account.

CCGA payments are typically deducted from your sales tickets. To make sure the balance of your CCGA advance remains up-to-date, you need to record the payments as they’re made.

If you cut a cheque to assist paying some of the advance back, treat the cheque as if it’s a regular loan payment.

Last updated on December 6, 2019 by FCC AgExpert