What is good communication? Improving communication with your bank can be as simple as providing Cashmanager RURAL reports regularly as the year progresses. Clients that take a proactive approach and keep the bank informed throughout the year comment that their financier is far more supportive.
EFS Report – The Economic Farm Surplus (EFS) report includes key performance indicators (KPI’s). To be really useful it requires a balanced stock reconciliation but if this is done and the change in livestock value is calculated the EFS report provides your financier with a good indication of profit.
Stock Reconciliation Report – On any livestock farm presenting this to your financier is very important as it shows whether you are increasing or decreasing capital livestock. Any change will have a big impact on cashflow and profit – this is something they must know!
Worksheet Reports – Worksheets let you record detail behind your budget and make it easier for you and your financier to understand how the numbers are prepared. It’s a good idea to supply worksheets for the biggest value codes.
Cashflow Report – A single page month by month summary of your plan, showing the expected peak working capital requirement after interest and after GST.
Variance Report – Comparing the forecast with last year.