Farmers Online will compare with budget, on a monthly basis , your actual financial income and expenses and profit . This will help you to see on a regular basis if your farm needs to generate more profit, increase income or reduce expenses, in order to achieve certain goals.
The goals your farm needs to achieve can be determined by Medium to Long Term Planning for your farm. These plans can be for a period of 1-3 or more years and are very useful in establishing a Strategic Farm Plan; Farm Succession Plan; Planning for certain Reserves; Farm Debt Repayment Plan; FutureRetirement or any other goal you wish to achieve.
There are many unforeseencircumstances that can influence the operating results of your farm, which can make your medium to long goals out of date. It is therefore important that these goals be kept in tune with the actual performance of your farm. This can be done with Short TermForecasting.
Your farm Management budgeting System allows for regular updating of your medium to long term goals as soon as these unforeseen circumstances occur.. Your ultimate goals will therefore always be up todate.
Farmers Online will advise, assist and support you throughout the entire Farm Management process. This service could be provided online as soon as needed and through farm visits . As the entire system operates online, this service could be provided on an economical and timely basis.
Farmers Online will continuously watch the performance of your farm and bring to your notice any material and important trends or significant variations from budget.
PRODUCTS AND SERVICES DETAILED ( page 2)
An important part of successful farm management is to spend more time looking forward. You, together with Farmers Online, can spend time planning and looking forward rather than just on compliance or taxation records.
Farmers Online will start your new budget by using last yea'rs actuals as the basis for the new year and then discuss with you how last year's figures are likely to change for the new yeaa on a month by month basis.. mActual monthly results as shown in Xero, will flow into the Figured system and can then be compared with budget figures. If required budget figures takencan be changed into a "forecast" at any time when needed.
By using this very important management tool, timely corrective action can be taken thereby making informed decision making possible.
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ONLINE FARM ACCOUNTING AND ADMINISTRATION
FARM PRODUCTION REPORTING,
This will provide you with a clear and up to date picture. of cropping, live stock , milk production, income and expenses and profit for each group.
You will have production reportingat a glance such as:
Dollars per hectare, per kg of milk solids, per carcass weight. This and more has all been built into the Figured system and is available at a "click"
An important. part of successful farm management is to spend more time looking forward. You, together withFarmers Online can spend time planning an looking forward rather than doing only compliance or tax accounting.
Farmers Online will be using last year's actual figures as the basis for the new year and then discuss with you how last year's figures are likely to change for the new year. Your actual monthly results will flow into your Figured Farm Budget system from Xero and these can than be compared with budget. If required the budget figures can then be replaced with new forecast figures.
By using this very important management tool, timely and informed corrective action can be taken in managing your farm.
CASH FLOW MANAGEMENT .
Equally as important as Performance Budgets for your farm, is your Cash Flow Management system. It is essential for the efficient management of your farm to have at all times available to you a clear picture of your actual cash flowcompared with budget and subsequent forecasts.. This will immediately tell you how much cash you will have available enabling informed decision making based on the actual situation of your farm.
The cash flow report shows all money coming in and going out of your farm in real time. It monitors your position daily and demonstrates your farm's liquidity. Keeping a close eye on your cash flow position will help you to keep ontop of what you owe and what is owing to you. Looking closely at your cash flow report and comparing it to your budget will give you an insight into your financial position.