Here at UHY Haines Norton we use a variety of software packages for different clients and industries that allow better understanding, control and management of their finances. The farming industry has its own unique set of financial challenges and complexities. And because farmers are so busy running their farms each and every day, it can be hard to prioritise managing the accounts.
In saying this, there is one software system in particular that we use for (and recommend to) our Farm Accounting clients especially when it comes to reconciling stock numbers.
Figured
FiguredFigured is farm financial management software that was founded by two farmers who were also accountants. Its user-friendly software provides livestock and production tracking, cash flow forecasting, budgeting and planning in real-time.
Users report that they spend less time managing their farm accounts and yet have better, more meaningful information for making decisions with. And as your accountant we have access to the same information so it’s easy for us to work on your accounts and help with your accounting and tax requirements.
Figured is particularly useful when applying for bank loans and forecasting the financial impact of purchasing new farms or undertaking particular projects such as cropping those extra paddocks or buying in additional feed.
All of our farming clients are on the lite subscription as we need the livestock information in order to produce the livestock trading account. But the system is capable of so much more, including forecasting your cashflow position during the season. As a farmer I find it extremely useful for this reason.
We can help you to get set up and start using it. It is integrated with Xero accounting software which makes the software ideal for our farming clients.
If you would like to get started on Figured farm accounting software or discuss any aspect of Farm Accounting, please contact UHY Haines Norton Director Mark Foster at markf@uhyhn.co.nz or phone (09) 420-7957.