Accurate sales reporting for the right coverage

Accurately reporting livestock sales ensures producers get, and pay for, only the coverage they need. For example, if their insured production is higher than their actual sales, producers may pay too much premium and will have to wait until the end of the year for a premium adjustment. Or, if producers do not report all their?? eligible sales or the information they provide is incorrect, they may not receive all the payments they are eligible for.

Accurate reporting also reduces the time spent on follow-ups, financial adjustments and/or payment delays.

10 tips to help make accurate reporting easier

• Verify receipt information. For easier reporting later, producers should confirm that all sales receipts include the following information:

1. Number of head sold
2. Weight
3. Sales date
4. Point of sale (name of auction, private sale or broker)

• Be ready to provide sales/slaughter receipts for brokerage deals. Animals sold to or through brokers are eligible if they meet the ownership requirements. Producers making these sales must be able to obtain slaughter/sales receipts if Agricorp requests them.
• Do not convert weights. Producers should report all sale weights exactly as shown on the sales receipts. Agricorp applies all standard conversions as needed.
• Compare insured production. Producers' premiums are based on their insured production for the program year. Producers who expect their annual sales to change by more than 25 per cent should call Agricorp by the applicable reporting deadline.
• Be sure the form is complete. All the details Agricorp asks for on the form are necessary to determine payments. Producers who complete paper copies of the form should make sure to complete each section fully and check to make sure nothing was missed.
• Report online at agricorp.com. Built-in prompts make it easier to accurately report information, reducing time spent on follow-up.
• Get email reminders. Producers can sign up to receive Agricorp's email notifications, which let them know when it's time to report.
• Consult the livestock handbook. Agricorp sends a ??? program ?handbook to all participants. When reporting, producers should refer to the following handbook categories to avoid common mistakes:

1. Eligible animals
2. Weight categories
3. Ownership requirements

• Email "zero sales" reports. Even if there are no sales within the reporting period, producers must provide that information to Agricorp. One quick option is to send an email? to contact@agricorp.com. Producers who use this option need to be sure to also provide their Agricorp ID.
• Take a picture with your smartphone. For producers who prefer electronic record keeping, this method can quickly convert paper receipts to electronic versions.

Source: AgriCrop