End of year financials – let Cash Manager Focus handle the hard bits for you!
Time spent in the office getting end of year farm accounts organised is not something most look forward to, but Cash Manager can help do the fiddly bits for you.
To get you off to a good start (if you haven’t done so already) we recommend giving your accountant access to your online data base. This will give him/her an opportunity to review your accounts and identify any items that require attention and will save time!
There are some basic things you need to check for to prepare for end of year accounts:
- Are your actuals up to date?
Ensure all transactions have been entered and coded up to the last day of your financial year.
- Is your bank account balanced?
Your transactions should all be coded and balanced to match your true closing bank balances.
- Have you entered all accounts payable and receivable
These are items with an invoice dated in the prior financial year and bank transaction dated in the current financial year.
- Check the consistency of coding
Make sure all items make sense for the code they are allocated to.
- Is your Livestock Year-End Tally correct?
Livestock tallies are important so ensure stock transactions (sales and purchases) have been coded correctly and tallies recorded.
If you would like to grant access for your Accountant or Banker:
For more information about getting ready for year end: