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    How to balance your livestock rec. for end of financial year

    In your accountant's end of year questionnaire, you will need to provide closing livestock tallies for the financial year.

    If you are correctly recording livestock sale & purchase transactions and births, deaths & missing throughout the year, then most of the work has already been done.

    To check if your year end stock numbers are correct:

    1. Open the Livestock window.

    2. Choose Transactions (Actual Cashflow) for the financial year you are balancing.

    3. Change the view to Annual Views.

    If the year end stock numbers are correct, then congratulations! Your livestock reconciliation is complete.

    If they're not, use the checklist below to guide you through balancing your stock rec.

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    1. Opening tallies

    Update opening numbers:

    • Move from Annual Views to Monthly Views

    • If you have more than one stock class i.e. sheep & beef, select the one that needs to be corrected

    • Click on the Opening No. button at the top of the screen 0_1500504293752_b9d350c7-2973-4ec3-8a55-e824c604f4fc-image.png

    • Enter the correct opening tally for each stock code. Click OK

    • Repeat for other stock classes if necessary

    • Move back to Annual View

    Are year end tallies correct? If not, continue on to step 2.

    2. Births

    Update births:

    • Move from Annual Views to Monthly Views

    • Select the stock code that you need to record the birth event against i.e. Heifer Calves

    • Enter the born numbers into the applicable month. The date for the event defaults to the end of the month or,

    • Create a worksheet by right clicking your mouse on the month and selecting New Born.
      A worksheet allows you to add details like notes to the event.

    • Repeat for other stock codes i.e. bobby calves, lambs etc.

    0_1500506568496_5ab6862a-708d-4c1d-b444-d07b9961ed35-image.png

    • Move back to Annual View

    Are year end tallies correct? If not, continue on to step 3.

    3. Deaths & missing

    Update deaths & missing:

    • Move from Annual Views to Monthly Views

    • Select the stock code that you need to record the event against i.e. MA Ewes

    • Enter the number of deaths/missing into the applicable month. The event date defaults to the end of the month or,

    • If you want to add more information to the event like an explainer, create a worksheet by right clicking your mouse on the month and selecting New Deaths and Missing

    • Repeat for other stock codes i.e. bobby calves, lambs etc.

    • Move back to Annual View

    Are year end tallies correct? If not, continue on to step 4.

    4. Sales & Purchases

    For transactions, you need to check that:

    1. The quantity has been recorded against each sale/purchase, with the exception of bonus payments.

    2. The sale/purchase date is correct, especially if you're buying/selling stock around the end of the financial year.

    3. The correct stock code has been allocated to the transaction. For example, should the transaction be allocated to a sale lamb or hogget?

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    • Move into the Transaction screen

    • Use the Filter button to filter for transactions relating to the stock class i.e. Sheep

    • Transactions can be edited so that corrections can be made for stock code allocation, quantity and sale/purchase date

    • Repeat for other stock classes i.e. dairy or beef

    • Move back to Annual View

    Are year end tallies correct? If not, it might be time to have a chat with one of the team on our Helpdesk.

    Want to know more?

    How do I create a new financial year?
    How do I close a financial year?
    How to balance your livestock rec.
    How to record end of year transactions


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