Managing meat invoices can be complex and time-consuming, especially for farmers who have to keep track of multiple transactions and livestock numbers. However, with Figured's killsheet integration, farmers and accountants can now easily extra data on their invoices from the meat processing companies to the Figured platform, making the process more efficient and accurate.
What are killsheet invoices
Killsheet invoices are detailed records generated by meat processors when livestock is sent for processing (e.g., slaughtering). These invoices outline the key information about the animals that have been processed, such as:
Animal type: The species (sheep, cattle, etc.) that was processed.
Weight: The carcass weight of the animal, which determines a significant portion of the payment.
Grade and Quality: An assessment of the quality of the meat, which can influence pricing.
Price per Unit: The price farmers will receive based on the carcass weight and quality grade.
Levies and Deductions: Various industry or government levies (e.g., for biosecurity or regulatory purposes) that are deducted from the total payment to the farmer.
Once the processor completes the butchering process, the killsheet invoice serves as a formal document that specifies the amount the farmer will be paid, minus any deductions.
How to enable Killsheets
Figured now allows automatic import and linking of killsheet invoice data to a farm's livestock and financial records. Here's how to enable this feature:
Figured’s killsheet feature incorporates artificial intelligence (AI) to read and interpret killsheet documents. By analysing the data on these invoices, AI helps identify key details such as animal grades, weights, and applicable levies. This ensures that the correct data flows seamlessly into Figured’s livestock trackers, and when permitting into Xero for financial reconciliation.
Killsheet Authorisation
The process begins when a farmer authorises Figured to access killsheets from their chosen processor (so far you have a choice of AFFCO or Silver Fern farms). This is done by completing a simple form within the platform, after which meat processers will send the killsheets invoices which then appear in trackers to reconcile.
A list of current authorisations will be displayed. If this is your first time, then click on “New Authorisation”.
Download the form by clicking on Download Template
Complete the template, sign and save. Going back to the Authorisation page, click on “Select File” and import your saved, signed and completed form.
Select your meat processing supplier from the choices in the drop down under “Supplier” and provide your supply number. This is crucial to ensure the data flows into the right Production Tracker on Figured.
Once the form has been submitted, Figured will be in contact with the Supplier to authorise the connection using your details and the supply number provided. If this all matches, the Supplier will cc Figured on your next invoice email to enable us to process your invoices automatically. You will continue to receive your invoices as per normal but Figured will now to be included on the email.
2. Review invoices
Once approved you should start to see your invoices come through to your Tracker, this will be displayed on the right side column in your tracker screen showing the invoices pending a review and those that have been approved.
Click on any of the invoices and you will be able to then review by clicking on the “Review” button.
Once you are in a killsheet Transaction screen you should see the PDF of the actual invoice that has come through from your meat processor on the left hand side of the screen, and the Figured corresponding transaction with pre-populated data on the right hand side.
3. Categorise your data
You will need to manually map the “Stock Class” in the Sales Transactions and "Account Name" under Levies & Deductions.
4. Review and Approve
After reviewing and categorising data, ensure that the data is correct and take note of the total to match what is showing on the corresponding Killsheet invoice.
Final step before hitting “Approve All” is to tick “Post to Xero” and this will generate a matching invoice in Xero . Once approved the system automatically creates a stock movement record in the livestock tracker.
Congrats, now you're ready to setup Killsheet invoice automation!