Regular use, along with time-saving tools, monitoring and revision mean you’ll get maximum benefit from your Cashmanager RURAL software.
Users who get the most out the program have a few things in common and here we share our seven top tips, to help you get the most out of your Cashmanager RURAL.
Using automated bank feeds to regularly import your bank transactions allows you to quickly and easily keep your cashflow up-to-date and to guesstimate your GST requirements.
Frequency of data input
Entering data more often won’t necessarily make you a top user of Cashmanager RURAL, it’s what you do with the data once it’s entered that really matters.
For example, you can set up automatic bank feeds and have your transactions arrive daily. Top users will then take those transactions, compare them to budget and actively make decisions according to the information they have.
Direct credit export
Many successful users anticipate the effect of cashflow by using the Direct Credit export facility in Cashmanager RURAL. This involves entering transactions into the program before payment is made.
The reason for this is to give an early view of cashflow, which enables the use of the Cashflow Report to see if there are sufficient funds for payment. This aids decision making in terms of what can be paid and when.
Payments are then exported out of Cashmanager RURAL and imported into your bank, saving double handling transactions.
Next to land, livestock is your biggest asset and our top users understand that knowing their stock numbers is critical to effective decision making. They ensure their Livestock reconciliation has correct opening numbers and any events i.e. sales & purchases, deaths & missing or natural increase as the year progresses, are accurately recorded.
Anyone can create a budget, it’s what you do with that budget that counts. Clever users will constantly monitor and revise their budget throughout the year. Read our guide on when to revise here.
Top users will create and analyse ‘what if’ budget scenarios to see what impact a decision could have on the business. They use these scenarios to drive decision making in their business, deciding whether to implement or discard an idea
Comparing your budget to actuals for the same period, using the Line One and Line Two feature, is a good way to see what has actually happened as opposed to what was budgeted.
Clever users take this one step further by using the revision feature that combines actual and budget together to see how actual information impacts the budget for the remainder of the year.
Effective users will take advantage of the revision tool to help them make informed decisions. It provides a high level of visibility for what is yet to happen, minimising the likelihood of any nasty surprises.
Cashmanager RURAL has many reports that help you examine your business, whether it’s measuring performance or profitability or as simple as monitoring your bank balance.
Once our top users complete each of the steps above they utilise the following reports to analyse how their business is tracking throughout the year.
- Profit & Loss Are they making money?
- Cashflow Do they have sufficient funds?
- Variance and YTD Comparison Are they on budget?
- Stock Trading What is the physical performance?
- Performance Summary (EFS) How is the business performing?