How to use the Milk Trading Statement

The Milk Trading Statement is available to accountants through their professional Workspace. You can use it to view and summarise milk production and payments for a farm when preparing end-of-year financial statements.

Why use the Milk Trading Statement?

The report provides an annual summary of:

• Monthly milk production in kgMS.
• Milk payments for the season.
• Deferred payments from the previous season.
• Plus or less adjustments.
• Advanced and gross milk prices per kgMS.
• Net proceeds from the sale of milk.
• Comparative results from the previous financial year.

Accessing the Milk Trading Statement

To access the report:

• You must belong to a professional Workspace.
• The farm must be part of the Workspace.

To open the report:

1. From your Workspace, go to Farms on the left and click on the farm business name.
2. Once in the farm business, select Farm Reports on the left.
3. Select Milk Trading Statement.
4. Select the Financial Year you want to view.
5. Complete the Deferred payments (last season) section (see more information below).
6. Complete the Plus/Less section (see more information below).
7. Click Apply.

Deferred payments from the previous season

The Deferred Payments (Last Season) section allows you to manually enter deferred milk payments.

You can enter values for:

• June.
• July.
• August.
• September.

You can enter deferred payments for both the current and previous financial years.

If you leave all fields empty, the section remains empty in the report.

Plus / Less adjustments

Use the Plus / Less Adjustments section to manually add adjustments that affect the net proceeds from milk.

For each adjustment, you can enter:

• A description.
• A dollar value for the current financial year.
• A dollar value for the previous financial year.

Three adjustment rows are available by default. You can add or remove rows as required.

If the section is unchecked, all Plus / Less adjustment rows are hidden, even if values have previously been entered.

NOTE: Net Proceeds from Sale of Milk continues to display when the Plus / Less section is hidden.

What the report displays

Monthly Production (This Season)

This section shows the monthly milk solids (kgMS) and corresponding payment (GST-exclusive) for each month, along with the annual total and comparative data from the previous financial year.

The report is based on the full financial year. The production month is always the month before the date the payment is received.

Deferred Payments (Last Season)

This section shows the deferred payment (GST-exclusive) received for each month of the last season and the annual total, based on the data entered when creating the report.

The section includes totals for the selected financial year and the previous financial year for comparison.

To edit these values, click the Settings cog in the top-right corner of the report.

The total kgMS from the previous season is included in June of the current year's kgMS column.

Gross Proceeds from Sale of Milk

This section shows the total gross amount received from the sale of milk for the selected financial year and the previous financial year.

The gross proceeds total this season's payments plus last season's deferred payments.

Net Proceeds from Sale of Milk

This section shows the gross proceeds less the value of the Plus / Less adjustments entered when creating the report.

Advanced Price (per kgMS)

This section divides the This Season total payment ($) by the This Season total production (kgMS) to give the price paid per kgMS for the current year.

Deferred Price (per kgMS)

This section divides the Deferred total payment ($) received in the current year by the previous year's total production (kgMS) to give the deferred price paid per kgMS for last season's production.

Current Year Gross Price per kgMS – This Season's Production

This section divides the Gross Proceeds from Sale of Milk by This Season total production (kgMS) to show the total dollars paid per kgMS for the current season's production.

Displayed values

Values are displayed as follows:

• kgMS and dollar values are rounded to the nearest whole number.
• Advanced Price is displayed to two decimal places.
• Where no value exists, the report displays zero.
• If multiple transactions are coded to MP in the same month, they are combined into one monthly total.

Printing and exporting the report

Use the Print icon in the top-right corner of the report to:

• Print/save the report as a PDF.
• Export the data to CSV.
• Copy the report to your clipboard.

The Copy to clipboard option allows you to paste the report into another document while retaining a clean, professionally formatted layout for reporting.

Unpaid milk invoices

If unpaid milk invoices are included in the selected financial year, an alert is displayed in the report.

Review these invoices to make sure the information is correct before using the report for end-of-year financial reporting.

Your report settings are saved

Farm Focus saves your Milk Trading Statement inputs and settings for each farm, including:

• Deferred payment values.
• Plus / Less adjustment values.
• Visibility settings.
• Report configuration.

Your manually entered information is available the next time you open the report for that farm.