How to align your Practice chart of accounts in Farm Focus
Learn how to map your Practice chart of accounts to your client's Farm Focus farm business.
Learn how to map your Practice chart of accounts to your client's Farm Focus farm business.
Some livestock events are financial events (sales, purchases) and the event has an impact on both the livestock reconciliation and the cashflow. There are also non-financial livestock events (generally births, deaths and transfers) that only impact the livestock reconciliation and have no impact on the cashflow. Non-financial events (both...
You can add an invoice date to your completed transactions to ensure they are allocated to the correct financial year.
Learn how to build your farm code list by adding new Section, Category, or Extended codes to suit your farming business in Farm Focus.
Learn how to add additional farm code templates to your existing code list in Farm Focus.
On your Dashboard, you will see your break-even milk price. This indicates how much income you need to generate from your milk production to cover the costs associated with your business and ensure there is enough cash at the bank.
Locking financial dates helps maintain the accuracy of your financial records by preventing unauthorised changes once your data is finalised.
The Working Plan displays the daily bank balance in the current month, helping manage cash flow and overdrafts. It alerts if the predicted balances breaches the overdraft limit. If there are multiple bank accounts these can be filtered for to allow account-specific views.
A baseline plan is a read-only copy of your working plan that you can refer back to as the financial year progresses.
Managing your actuals is an essential part of ensuring your records are accurate and up-to-date. Properly recording your actuals will help you when filing your GST returns and ensure compliance.