When you’ve purchased a consumable, normally you’d keep it in the shed before you’re ready to use it. You’ll do the same thing with Figured, but instead of the shed on Figured, it goes into the product tracker!
By recording your purchase through the product tracker, you only have to enter it once and then we’ll post it through to Xero for you too.
Your product tracker is available under Operations > Trackers.
Your product tracker can be used to buy and use products - read below to learn about buying products, otherwise check out this article on how to use your products.
Buying products in your product tracker
Once you're inside your product tracker, click Add transaction > Add purchase.
When adding a purchase transaction, you'll need to enter the following information, split into two sections.
- Type (actual / forecast)
The ability to add it as an actual or forecast depends on your global date settings in the centre of your screen.
In the above screenshot, I can raise an actual purchase between June 2019 - January 2020, or a forecast from February 2020 onwards.
NOTE: Actual purchases will always be posted to Xero.
- Purchase and payment date
These are your standard accrual / profit and cash dates which'll dictate how the purchase information displays in your financial reports.
- Contact (from Xero)
This is a required field if you're raising an actual, otherwise it's optional. This is a pre-filled list of contacts as per your Xero account. If you'd like to use a new contact, you'll need to add it in Xero first and run a sync in Figured.
This is an optional field, if you add it in it'll be added to your Xero invoice.
This can be any additional notes you want to record against a purchase.
Along with the invoice information, you'll need to provide information for any products that you're purchasing.
- The item you're purchasing
This is a pre-defined list of products which includes things like herbicide or LPG, along with any other crops / products too like Hay or Linseed.
If you'd like to purchase something not on this list, head to your Product tracker and add a new Product. Then you'll be able to add a purchase of this new product.
- The account for purchase
This is the Xero account which should be associated with the product purchase.
- Tax rate
Depending on the account you select, we'll pre-populate the tax rate for you. Otherwise you can adjust the tax rate to whichever other tax settings are available for your country.
The activity is where you define what this purchase is for in relation to your crop season.
An activity can be: preparation, seeding, growing, harvesting, or sales and storage.
- Quantity and price
The quantity of product that you're purchasing, this will be in units e.g. kg. Along with that, you'll enter a price which is $ / unit e.g. $ / kg. Filling in the quantity and price will auto-populate the total amount for you.
- Field distribution (optional)
When a purchase is made directly within a product tracker, you can choose to distribute some of it to fields / crop seasons immediately if you'd like to. If you'd just like the product to be bought and go directly into the product tracker - don't fill in the distribution.
Field distribution is how you nominate the fields which are associated with your product purchase.
For example if you are planning to grow Corn across two fields, North & South, and you wish to attribute your newly purchased herbicide to North Field, your field distribution would be 100% North Field.
NOTE: If you wish, your field distribution can be set to Product tracker so the sale is not attributed to a crop season or type.