If you're pretty savvy and you're wanting a quick guide on how to get a Financial Manager setup - you've come to the right place.
If you're looking for something a bit more in depth, check out our how to on setting up a Financial Manager farm.
You'll need the below before we get started:
Xero account for the farm already set up, check out the Xero help centre on getting that ready
Figured account created
In 6 steps you'll have your Financial Manager farm setup and ready to use -
Step 1: Create the Financial Manager farm
Create the farm directly from your dashboard using the green button on the right hand side.
Step 2: Setup your bank feeds
Your default bank account will be used for your budgeting & what will make up your bank account balance in all your reports.
REMEMBER: Current liabilities (like a Farmlands or PGG card) must be set as such in Figured.
Step 3: Setup your planning tab
Configure your accounts' payment periods and categorise them as you need for your planning and reporting. This page can be accessed in the planning grid Tools > Configure Accounts or the Accounting menu > Chart of Accounts > Account Configuration.
It's good to set payment periods now before you start taking snapshots and running reports. A snapshot is uneditable so will contain whatever account categorisation you have at the time of the snapshot.
Step 4: Enter your forecasts and approve your Annual Plan
Still working in your planning tab, you'll want to fill out your forecasts. You can do this directly in the planning tab, or you can export a planning tab template and fill in the budget using Excel. Click approve Annual Plan or set a snapshot as your new Annual Plan in the top right of the planning grid once you're done.
REMEMBER: You can forecast on a cash or accrual basis, these are linked to one another as per the payment periods.
Step 5: Invite the rest of the team
Under Settings > People you'll want to invite any individual members to your farm, there's a range of access levels so you can have everyone on board. Under Settings > Organisation you'll want to invite any accountants or advisors that work on the farm, too.
Congratulations, you're ready to go!
You can dive in and generate some reports, or re-forecast for the weather - if you need a hand, drop the team a message via the green bubble anytime.