Updating a milksolids revenue forecast has been significantly simplified, thanks to the release of a new Dairy Forecaster module for Cashmanager RURAL.
The new Dairy Forecaster helps farmers estimate how much revenue they can expect to receive in the coming season. CRS Software managing director Brian Eccles says farmers using the cloud based online service also get automatic price updates. At the click of a button, the latest advance and top-up payments applied to estimate the new cashflow.
“This is not just a simple forecast. It combines year to date production with the forecast remaining to calculate revenue for the whole season,” he says. “This information drives the overall cashflow forecast and, when combined with a spending plan, is able to assist the farmer to confidently estimate the year end position. This knowledge further informs good decision making.”
Lawrence Field, of Masterton-based accounting firm RURAL CA, says the forecaster makes it easier for accountants and bank managers to keep right up to date with the latest picture. “Everything is on one page which makes it easy to follow and all you need to do is input your production estimates and the change in payout automatically feeds through.”
Field says if there was ever a time farmers needed to update their forecasts it is in the current environment. “We have really volatile payouts and a lot of farmers impacted by drought. It’s a double whammy and we have to know what currently cashflow is looking like because otherwise we are in the dark and heading for tough times.”
Eccles says that the initial release is set up with configuration options for three of the largest dairy companies – with more to follow.
The Forecaster also caters for sharemilkers and contract milkers.