As March nears, the end of the tax year prompts a rise in activity on farms, as farmers and accountants work together to tie up loose ends and ensure documentation is accurate and compliant with regulatory requirements.
In light of this upcoming milestone, agri-finance firm Farmplan has summarised some common pain points farmers encounter during this period, and how their solutions can help alleviate them.
During this time of year, farmers need to balance their day-to-day operations with increased communication with their accountants.
Whilst it can feel like a crunch point where these competing priorities are most felt, the pressures of this workload are often experienced in the weeks and months prior.
Throughout the year, farmers must carefully monitor and record their earnings and spending to ensure the April tax year end can be managed efficiently.
However, with many still resorting to manual record-keeping systems or outdated software to do this, it can cause even more issues when it comes to auditing and having everything they need in one place.
Recognising these issues, it is clear that farmers need support with this, giving them time back to focus on what matters most – their farms.
Transitioning to a new platform for accounting can feel daunting, but at Farmplan, we are dedicated to making the process smooth and manageable for farmers.
Our cloud-based platform, Farmplan Business Cloud, already stands out in the industry as the benchmark for high-quality, hands-on customer support, ensuring that no farmers are left stranded and unsupported at any point of the year.
With a team of agriculture experts, we have designed this software to only use relevant terminology and cater for agricultural activities.
From an efficiency perspective, Farmplan Business Cloud removes the need for farmers to manually enter their bank transactions and make time-consuming trips to the accounting office.
The platform can receive information and transactions directly from the farm business bank (if granted) and enables accountants to seamlessly access all records from one centralised location.
Moreover, the platform can be accessed anywhere and at any time by farmers, reducing the need to spend long hours in the farm office managing paperwork.
These efficiencies ultimately streamline the crucial work that is needed between farmers and their accountants, improving, and speeding up collaboration across the board.
By leveraging Farmplan Business Cloud, farmers can benefit from a solution that enables them to manage their operations more efficiently and effectively, allowing them to streamline their processes, track their resources and make informed decisions.
We understand the challenges confronting farmers at this time of year and we are confident that we have the tools and support to help solve them, and our customers think so too.
Andrew Dobin, owner of JA Dobin and Son, was initially hesitant to switch over to Farmplan Business Cloud, but after implementing the software he found his processes transformed.
He said: "If you’re hesitating about switching, I’d say trust the Farmplan experts and give it a go. For me, it’s definitely been worth the move.”
By investing in Farmplan Business Cloud, farmers can embark on a journey towards less stress and more success in the next tax year and beyond.
For more information on Farmplan, and to learn about how we can best support you, please visit us on our website.
