Dairy prices tumbled in the overnight Global Dairy Trade (GDT) auction, but analysts aren’t surprised.
According to Figured’s marketing manager Monica Shepherd, nearly 40% of farmers surveyed at the New Zealand National Fieldays, said they wanted more advice from their accountants on how to achieve just that.
In response, Dairy Women’s Network is running a free dairy module called ‘Farming in the Cloud’ with its partners Figured, Xero, ASB Bank and Crowe Horwath.
‘Cloud accounting’ as it’s now dubbed, describes accounting systems that are hosted on the internet, or ‘The Cloud’.
“The beauty of a cloud-based accounting system for farmers is that they and anyone from their farming team can access financial information in real-time, giving users accurate and up-to-date information whenever they want it,” said Shepherd.
Cloud accounting tools Figured and Xero offer farmers much faster access to information, saves them time, gives them more visibility of their finances, and allows them to better plan for their futures as they’re able to create financial forecasts.
“Members who attend these modules will learn practical tips and tricks for using Figured and Xero, which connect with banks and farm suppliers, meaning they can manage their suppliers, resources and partners from one system.”
The module is an opportunity for farmers to speak directly with product specialists, get insight from rural accounting experts and gain confidence in managing farm finances online. Attendees will also have the option to talk to ASB about taking up a free Figured subscription for a year, said DWN chief executive Zelda de Villiers.
“Our partners Figured, Xero, Crowe Horwath and ASB are all committed to lifting the financial performance of farming businesses in New Zealand and through their relationship with us they want to offer a module that will help as many farmers as possible to better understand their finances and take a proactive approach.”
For more information or to register for an event near you, visit www.dwn.co.nz