To match stock movements on the farm with the corresponding movements in the bank accounts, each mapped production (tracker) account needs to have the same financial values in both Figured and your accounting software.There are three ways to have your trackers accounts reconciling, and we'll step you through all of them.
Create a transaction in your accounting software, and then reconcile in Figured, you can use the one click reconciling function to achieve this
Post directly from Figured to your accounting software, and reconcile against the actual transaction in your accounting software
Create an individual transaction in your accounting software and a create a matching transaction in Figured
Create a transaction in your accounting software and import to Figured using one-click reconciling
This method has you first working in your accounting software, and then coming back into Figured to reconcile your transactions. Using this method would utilise one click reconciling from your accounting software into Figured
Note: the below images are related to a Figured Farm linked to Xero. The process is identical based on your preferred accounting software.
Enter your stock sales and purchases into your accounting software as normal, and then head over to this help article to get you sorted on reconciling your imported transactions from your accounting software.
Create a transaction in Figured and post to your accounting software
This method is our recommended best practice, as it means your production trackers are always up to date and reconciled! Plus, there's no double handling involved.
First, head into your tracker and add an actual purchase or sale.
Enter your details as you would any other, ensuring you select Post to **** (key part!), and select save transaction when you're done.
That's it! Your one-step reconciliation is complete. The invoice for that purchase or sale has now been posted to your accounting software, and is awaiting payment.
NOTE: Figured accounts will be marked as "unreconciled" until a payment has been applied to the invoice in your accounting software.
Create a transaction in your accounting software and create a transaction in Figured
This process see’s you creating a transaction in both your accounting software and Figured. In your accounting software you would add in a sale or purchase transaction using the invoice or bills tool. Once you’ve created the same transaction in Figured it will recognise and match transactions with the same details when your file has been synced with your accounting software.
To find out more about creating an individual sale transaction in Figured head to this help article. If you are wanting to create a purchase transactions in your livestock trackers, head to this help article.