As the year end approaches, Anne Cianchi, Product Manager at Farmplan, the UK’s leading agricultural software specialists, shares some timely advice on how farmers can manage their money in uncertain times.
Harness the right accounting software to get ahead
The year-end process can be a daunting and time-consuming one, but Anne assures farmers that having the right tools and support can help. “With Farmplan Business Cloud there is no complicated year end process to be run. Furthermore, financial advisors can be given access to run their own reports and make the required year-end adjustments directly in the software, leaving you free to get on with running your business.”
“But it’s not just about the simplicity of the year end process,” Anne continues, “Farmplan Business Cloud also allows you to take stock of all the information available to you. From analysing price trends to comparing enterprise performance, there is a wealth of information easily available to help each farm make well informed decisions going forward”.
Make everyday business tasks easier with Business Cloud
Forget the clunky spreadsheets and paper records, Business Cloud is a complete accounting solution designed specifically for farmers. Here are just some of the benefits.
- Time saving
Time consuming and complicated data entry tasks become effortless, so farmers have more time to do what they do best. Whether on the farm or in the office, they can access and share their data from any device, anywhere, and automate those time-stealing tasks.
- Seamless collaboration
Business Cloud allows farmers to stay in control of their data and choose who can access what, from family members to trusted advisors. Keeping data safe and secure ensures they’ll always be compliant with current regulations.
- Make informed decisions
Where is a farm performing well? What needs to happen so the business can grow? Business Cloud allows farmers to analyse their business in as much detail as they need, so they can answer these questions and more.
Not only that, but the software is capable of handling data for all types of enterprise, from traditional farm enterprises to farm diversification projects, helping farm businesses grow with ease. With the added function of being able to automatically bring transactions in from the bank and post them direct to the ledgers, managing money in one place has never been easier.
Stress-free digital financial management
As of April 2022, all VAT-registered businesses were required to adhere to HMRC’s Making Tax Digital (MTD) regulations.
These regulations mean businesses need to keep digital records of all transactions that make up the figures they report in their VAT return.
For farm businesses who are in their first year of using software to manage their finances, Farmplan provides reassurance that it’s not as stressful or complicated as it may seem.
“ For some farms, the MTD requirement might have felt like a big leap,” says Anne. “However by making use of the resources and the support available from Farmplan the transition to MTD software will not only ensure compliance with the new rules but will also bring so many other benefits at every level of your business.”
“We have lots of experience in the farming sector and our systems are tailored to the needs of farming businesses,” Anne continues, “ We are always on hand to talk to farmers, through our on-line and telephone support network”
Farmplan is an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Reference Number: 804718). Plaid provides you with regulated account information services through Farmplan as its agent.