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Using a wool tracker

How to use your wool tracker on a day-to-day basis

Alexandra Henley avatar
Written by Alexandra Henley
Updated over a week ago

The main concept across Figured is that you build a budget, create your forecasts, and then enter actual information and re-forecast day-to-day.

Build your wool tracker forecast

If wool on hand existed before the Figured farm creation, you will want to enter the opening quantity numbers, which you can do by going to the tracker settings page. Once your opening balances have been set for each stock class, you can move on to entering the forecasted wool movements.

To build your wool tracker forecast, you first want to ensure your global date settings are correct. You'll want to ensure you've selected the current year you're working in. As per the example below, 2021 (A) > "Actuals + Forecast" (B) > "Actuals to none" (C). You'll know it's correct when you see the orange heading "Full Year Forecast".

As the year progresses and circumstances change, you will want to come into your wool tracker forecasts and re-forecast, edit or delete existing transactions, add new ones, and get an immediate view of your forecasted wool stock rec and how it'll affect your cash flow.

Using and updating your wool tracker day-to-day with actual information

After the initial forecast creation, your wool tracker is ready to use as often (or as little) as you need to keep up with your stock reconciliation.

Post your actual sales and purchase information to your preferred accounting software as they happen on the farm, or come back later and reconcile any movements that may have been captured on your accounting software but missed on Figured.

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