Checklist for making your End Of Financial Year easy

Checklist for making your End Of Financial Year easy

30 July 2019 by Gretchen King

The financial year has ended.  We thought we’d help out and send a checklist of things to think about because the sooner you tidy everything up while it’s still fresh, the better and the easier in the long run (and hey, we all like easy!)

Office Admin

  1. Ensure your financial software (Cash Manager, figured, xero, MYOB) is up to date and reconciled, inclusive of payroll, transactions & stock tallies.  
  2. Ask your accountant for a checklist for the reconciliations needed for the end of Financial Year – they may also want to know Wool On Hand, up to date tallies, shares/dividend statements etc.
  3. Review the year that's been and adjust the plans for the coming year.
  4. Review your budget vs actual - how did the year go: did we perform better or worse than expected? As part of this, review your farm KPI's (budget vs actual) e.g. scanning %, lambing %, docking %, weaning %, deaths . You can also use this information for benchmarking purposes when your region’s data has been released.
  5. Set next year’s budget - store your KPI goals in Cloud Farmer so others can see them and you all feel the responsibility of achieving them. 
  6. Export and archive any Cloud Farmer information from last year that you may want to.  This may include exporting your Stock Reconciliations to excel and creating a clean slate for this financial year.  Contact us if you need some help on 06 261 3185 (and press 2 for support) or message Louise via the instant messenger button on the the Cloud Farmer desktop version. 

Time for a catch up with the team

  1. How about putting your KPI results up on Cloud Farmer so your team can see how the farm has performed?  Seeing the tangible results of our hard work can be really motivating and allows us to understand the “Why” better.  For example “Why were all the results worse than expected?  Because the ewes weren’t in top condition going to the ram, which is why we have to be really vigilant with our feed covers and shifts and not leave them in the same paddock for an extra day or 2!”
  2. Review the users on your system (go to My Account / Admin / Manage Users).  Are all the people listed as users of your Cloud Farmer system correct? 
  3. Now is a great time for a team meeting to discuss your goals and have a general planning session for spring and the busy season, as well as the year ahead.  Document your meeting and save it onto Cloud Farmer, because if it isn’t written down, it didn’t happen! 
  4. It’s also a really good time to do staff performance reviews.  One suggestion is that instead of making this a big stressful thing that happens once a year, do 4 smaller ‘seasonal’ reviews.  That way things don’t get bottled up waiting for the annual review, and it makes the focus more seasonal than personal.  Eg “how did winter go – what worked well, what could we do better next year, what do we need to discuss in preparation for spring etc etc”
  5. Got a set stocking, rotation, animal health or docking plan?  Put it on Cloud Farmer for all to see and to help start the new season on the front foot!

* Nb, your ‘team’ may be you and your spouse, or you and your parents.  Or maybe just you!  However no matter the size of your team, it’s still good to review, reflect, and goal set.


If you’ve got any other hot tips for starting the new financial year on the front foot, let us know, as we’d love to share them.  Also if you don’t already, follow us on facebook as we often post great tips and tricks on there too. https://www.facebook.com/agrecordnz/

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