The stock balancer tool automatically populates itself with any unreconciled balances between Figured and Xero, displaying these unreconciled balances on an annual basis.
You are able to easily reconcile the differences between Figured and Xero, as well as enter in any other livestock or wool movements in order to easily complete your stock reconciliation and generate end of year trading statements.
You can also enter all of your forecast movements on the same screen so you can complete your plan for the year.
Accessing the stock balancer
To access the stock balancer, just click on the tracker from the Operations tab.
Alternatively, click on Stock balancer in the top right hand corner.
The stock balancer is able to be viewed annually, monthly or in detailed mode, and you are able to switch between stock balancers for your various trackers.
Using the stock balancer - auto-aging, target closing, and variation
You are able to auto-age your stock within the Stock Balancer, simply select Auto-Age Opening Stock and Figured will automatically age out your opening stock into the appropriate mature stock class. This will only auto-age your stock to the recognised predecessor stock class e.g. R1 Heifers will auto-age to R2 Heifers.
Your opening stock numbers in each class will move across to their aging out column, and the numbers will then move up into the aged stock classes aging in column.
Figured's recommended best practice would be to auto-age your stock first.
Once the aging movements have been done by Figured, it then gives you a clear idea of how much stock you have available in each stock class. You can then move onto reconciliation and making other stock movements.
Target Closing and Variation
Your Target Closing and Variation columns are used as a way to easily see what you're aiming to have on your farm at the end of the financial year, and what the differences are (if any).
Simply click on the 0 in each target closing cell, enter a number, and your variation cells will update.
As you make more changes in your stock balancer, the variation cell will continue to update.
Using the stock balancer - reconciling
If your tracker has been configured to use Single Account Mapping, the total unreconciled (variance) balance from Xero will show a warning against the entire sale or purchase column.
If your tracker has been configured to use Individual Account Mapping, the stock balancer will show a warning only to the stock classes that are unreconciled.
When working on the annual setting clicking on the stock class quantity will bring up the box below, the total amount is automatically populated from Xero and all you need to do is add in the quantity to create the transaction in Figured.
When working on a monthly basis clicking on the cell will bring up the table below, here you are able to split the transactions out on a line by line basis per month instead of total for the year.
In detailed view clicking on the cell will bring up a blank table, which will allow you to create as many transactions as you want, instead of one line per month or for the year.
You can also enter the weight kg/head (live or carcass) for production reporting if you wish to add this level of detail.
Once you are happy click on the green tick to save.
A message will pop up to confirm that the transaction was saved and the balance reconciled.