Business HealthCheck

A strategic annual review over a six-year period identifies key business health issues & performance trends.
It helps provide the right context when planning for the future so that you are aware of where needs to change in order to achieve future goals.
Everyone can be on the same page regarding understanding how the business is really performing. This can significantly assist in management outcomes, such as transition & succession planning.

Flexible Data Levels

Clients can choose the data level which best suits them – with the principle being that more data results in more analysis outputs.
So clients can start at a ‘Lite’ level which requires minimal effort and then over time become capable of providing data for the next levels.

Performance Scorecards

The Business Health Scorecard provides a quick visual summary of how key business performance indicators compare against industry guidelines.
The Business Trend Scorecard provides a quick visual summary of how the current year performance compares with the last two years and the 4-year average.

Key Questions

The HealthCheck report includes a series of strategic key questions for particular indicators. These key questions are good conversation starters and are good things to think about when reviewing business performance.

Management Accounting

Internal tax planning & family drawings are accounted for so that analysis is this management report can be provided in addition to the standard accounting reporting. Also the report format makes it easy to understand what is driving business profitability, asset efficiency and debt serviceability.

Farm-Specific Analysis

The farm-specific Business HealthCheck drills deeper into how the farm business is performing. In addition to the standard business analysis, the farm-specific anlysis analyses extra items such as crop production yields, farm inventory balances, cost & income $/Ha, land use & rainfall variables.
Farm enterprise analysis includes managing leased & sharefarmed land, winter & summer crops and livestock classes.

Report Formats

The Business HealthCheck is available both on the web application and via PDF report – which is also provided as a printed & bound hardcopy report.
The hardcopy reports are good for use in meetings and the web application allows the user to drill into the data at their convenience.
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Budget & Actuals Monitoring

It is important for businesses to plan and manage cashflow well and Ag Profit provides a feature-rich budget application which is complemented with an efficient budget to actuals monitoring service.

What-if Scenario Forecasting

A Master budget is managed throughout the budget period and trial budgets allow for efficient what-if scenario forecasting.

Easy Budget Setup

Budgets can be quickly setup using data from the previous twelve months to pre-populate typically cost accounts.

Farm-Specific Budget

The farm-specific budget helps farmers budget and plan in line with how the farm operates. Income can be built up from either the paddock or livestock mob level. Paddock crop yields can be varied as the season progresses, opening balances of stock, grain hay, etc. are recorded and allocations for grain used for seed and grain & hay used for fodder help the farmer to always know what quantities, in tonnes, bales or number of head, are available for sale.

Farm Specific Budget Formats

A choice of farm budget formats provides flexibility – from using just the cashbook chart of account structure through to using a defined Ag Profit budget structure.

Farm-Specific Cost Templates

Cost templates for crop & livestock mob planning make for efficient budget planning for input costs. Recommendations are established for crop & livestock types which are then allocated at a paddock, livestock mob or enterprise level which then link directly to the budget input costs.

Efficient Budget to Actuals Analysis & Reporting

Detailed monthly or quarterly budget actuals analysis & reports can be efficiently generated and emailed to clients.

Easy Budget Reset

The budget can be easily reset at any point in time so it is adjusted to match the cashbook actuals.
 

Farm Comparison (Benchmark) Analysis

In addition to the HealthCheck report, Ag Profit can provide a separate farm comparison or benchmark report, which details how an individual farm business compares with the average and top 20% profit group of similar farms within the region. This comparison report is structured similar to the Business HealthCheck report so that the comparison report readily identifies the key trends of the comparison group.

Every farm business is different - with different skills, farm scale, debt levels & productive capacity. Hence farm business comparison should always be viewed in the context of there may be a totally valid reason as to why one particular farm is performing significantly different to the other farms in the region. However the benefits of this comparison is making sure the farmer is aware of the performance differences – as there may be issues identified which need addressing.

It is worth noting that Ag Profit focuses the comparative analysis mostly on indicators where the influences of both farm scale and debt level are removed.
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Farm Inventory Calculator

For accountants who have farming clients using online accounting programs such as Xero, QuickBooks online, etc. - the farm inventory calculator enables efficient management, for accounting reporting purposes, of farm inventory items such as livestock trading schedules and grain & hay on the balance sheet. This includes worksheet calculations, automatically posting of journals, including next day reversals and providing the comparative tables for reporting purposes.

Differing valuation methods are available (ATO, actual cost & market value) and quantities from the cashbook program are recorded but which can be modified to suit tax planning requirements.

Journals can be done on both an interim (during the year) and final (end of financial year) status and can be voided if required.

Reports can either be inserted into the online accounting program or provided as a PDF report which can be inserted into standard financial reporting.
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Farm Data Services

The Farm Data Services module makes key data available to help interpret how the farm business is performing. The capacity of the farm to generate income can be reviewed in light of the seasonal context for market prices and rainfall (typically critical for farm production).

Rainfall Maps

National rainfall maps in both mm and deciles include:
  • Calendar year
  • Winter growing season (April – October)
  • Summer growing season (October – March)

Market Prices

Commodity prices for the last 10 – 15 years are available for:
Crops:
  • Grain & hay crops (cereal, legume, oilseed)
  • Cotton
  • Sugar
Livestock:
  • Sheep
  • Cattle
  • Wool
Inputs:
  • Diesel
  • Fertilizer (DAP, Urea)
Currency
  • A$/US$ Exchange Rate

Farm Business Management Document Library

Ag Profit provides access to a document library where a large range of farm business management articles can be downloaded.
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Business Policy Manager

Key actions, issues & milestones are managed to facilitate key business management plans & processes, such as succession and transition planning, estate & asset replacement plans, goals, and any issues arising from managing OH&S and staff labour.

Coming Soon
 

Farm Operations

Farmers, agronomists and livestock consultants can assess, plan and manage recommended action plans for all cropping and livestock enterprises, including detailed gross margin analysis. A unique feature here is that key input costs can be directly linked to a full business cashflow budget. All operating activity actions are managed in a farm diary and farm mapping allows for a spatial display view of paddock performance.

Coming Soon