Adding a new milk tracker
You can have as many milk trackers as you wish, provided you have either a unique set of sales / purchase accounts setup or multi-farm enabled.
In your main Production tab, hit Add new tracker and on the following page select Milk from the list provided.
To create a new milk tracker, you'll need to enter a name and the milk company that you provide milk to.
Configuring your milk tracker
On creating you'll be taken to the milk tracker settings page, you can get back to this page at any time by going to Production > Milk tracker > Tracker settings.
Here you can update the operation type, Xero account mapping, levies, farm manager settings, loan account, supply number (Fonterra NZ farmers only), and how you record your milk income in Xero.
NOTE: Only New Zealand milk trackers will have an option to add a deferred milk income account, and map levies & loan accounts.
Configuring your milk tracker - Operation type
The operation type defaults to farm owner but this can be changed this to share milker or contract milker depending on your farming operation.
- Share Milker – If you chose share milker, you’ll see an extra field to enter the percentage of milk income you receive
- Contract Milker – If you chose contract milker, you’ll see an extra field to enter the $ per kgMS of milk income you receive
Selecting farm owner gives you the option to add add either a share or contract milker via the Farm Manger settings.
Configuring your milk tracker - Xero account mapping
In Figured you will need only two main milk income accounts (or one if you are an Australian farmer). These accounts are this season income and deferred season income.
Configuring your milk tracker - Levies
If you're a New Zealand farmer you can select to automatically calculated the Dairy NZ levies based on your budgeted milk production each month. If you select yes, you'll need to map a levies account.
Configuring your milk tracker - Supply number
If you're a New Zealand Fonterra supplier, you can select to setup live Fonterra feeds which will bring in your kgMS produced each month. Check out how to do that here.
Configuring your milk tracker - Farm manager settings
If you're a farm owner you can select to add a share or contract milker, check out how to do that here.
Configuring your milk tracker - Recording milk income in Xero
To make sure actual payments are shown in the tracker correctly, you need to select the cash / accrual mode in your milk tracker.
If you cash code payments in Xero select No, but if you record them as sales invoices then select Yes.
Configuring your milk tracker - Fonterra loan account
If you're a New Zealand Fonterra supplier, you can select to map your Fonterra loan account so that'll automatically associated with your milk tracker.
Once you're happy with your setup, you can hit save changes at the bottom of the milk tracker.