Baker Tilly Staples Rodway accountant Bevan Condin rates Farm Focus
Often the financial side of farm succession is the last piece of information handed to young farmers taking over the family farm. And yet this is the piece that can be the most daunting.
Farm Focus has been a fantastic tool for Lucy and Tim Mouat because the software helped them manage the financial side of their farm with relative ease right from day one. They were able to prepare a budgeted cashflow because Farm Focus helped them understand the financial impacts of their decision making by providing clarity around expected farms profits, estimated tax payments. They were also able to closely monitor their bank balance to ensure they remained on track.
Current information is also key for us as advisers, and this is where Farm Focus delivers for us too. The application’s Livestock Monitoring Report provides records of stock tallies, and the Invoice Scanner saves invoices and helps clients match these up with bank payments so there’s no down time for either party over missing invoices or receipts.
As advisers it is much easier and convenient for us when our farming clients are using products such as Farm Focus. We have access to their real-time financial information that helps with decision making and the data we need is stored in the system, which helps with our report preparations. With Farm Focus we don’t have to bother our farmers with ‘our accountant questions’ because the information is there where we can retrieve it.
The benefits of having a financial plan and real-time information are invaluable when it comes to making decisions. Farm Focus has given Lucy and Tim control over on-farm decisions and helped them identify financial goals they could target.
It has been great to have supported them in the preparation of their Farm Plan and now on their Farm Focus journey.