Plans start at $40 + GST per month which includes:
Figured does require a Xero GST Cashbook or higher subscription.
How Xero and Figured work together
Purchases, sales, updates or stock quantities are entered into Figured, this generates an invoice which is sent to Xero and automatically matches the payment when it appears in your bank account.
Advantages of using Xero & Figured accounting software for your Farm:
Xero is a full accounting system. It can connect with most bank accounts so you can have bank transactions feeding into Xero automatically on a daily basis.
The standard Xero package can manage your debtors and creditors. You can easily keep track of who owes you money and when that money is expected in as well as knowing who you owe money to and when that money needs to be paid. The creditors function has the ability to export payments directly to your internet baking which is a massive time saving.
Invoices can be scanned or emailed and saved into Xero and be attached to a transaction. This significantly decreases the amount of paper you need to keep. Wherever you are you will have access to these invoices.
Xero is a complete ledger. Working with Figured means your accountant can prepare the annual financial statements without the need to export into their own ledger system. This saves time and money. It also has the advantage that both you and your accountant are working with the same information and any changes can be updated in your system so there are never any discrepancies.
Figured is a farm budgeting tool that communicates fully with Xero. Once budgets are prepared in Figured and production movements are entered many reports can be generated straight out of Figured. It can show you the profit and loss for your livestock and production accounts as well as reporting on budget compared with actual figures. The monitoring of your business is both timely and relevant in order for you to make sound business decisions and focus your efforts. Historically the farmer wouldn’t find out about these issues until it was too late.
Figured can easily keep track of your livestock numbers and can produce valuations of stock on hand that can be transferred across to Xero.
Figured has the ability to manage multiple farms which saves you time. Have multiple farms managed in once place makes it easy to see how each farm is tracking and also compare production and profit at each farm.
The scenario planning tool in Figured has recently been released. This has the ability to plan and analyse different outcomes for your farm. For example, if you wanted to see the overall business effect of purchasing a new high-value asset the costs and potential increased revenue can be entered into the tool so the whole farming team can make an informed decision.
GEEK TIP: Using Xero and Figured relies on having a good broadband internet connection. If your internet suffers from interruptions or you have issues with speed a different farming package would be recommended. The recommendation would be to download the free 30-day trial to test your internet speed before committing to the full setup.
Production trackers available:
If you want to know more, would like a FREE demo or have any further questions….
Please contact our in-house guru, Kate
06 873 8037