While the Xero API update has been our key focus this month, we’ve also been working on further UI and functionality updates, including:
User Interface updates: we’re continuing to work through incremental UI improvements to the application to ensure more consistency in layouts.
Consolidated transactions in budget schedules: this update removes the noise when switching from summary to detailed views on budget schedules.
Stock unit reporting: updated reports to include reporting on a stock unit basis, as well as live stock quantities. This also included specific localisation of the stock unit capability for Australia and the United States.
Report Packs: grouped saved reports, giving users the ability to build lightweight report packs.
Report formatting: you’re now able to choose between landscape or portrait orientation on report exporting.
Cropping updates and fixes (beta)
If you have any questions regarding any of these changes, get in touch with us via the chat bubble at the bottom of your screen.
Xero API update + multi-farm changes
We’ve updated our sync and reporting code to use the new payments journal endpoint on the Xero API. This has enabled a significantly improved speed of syncing between Xero and Figured.
With the new API and the updates that have been made to the reporting code, the previous soft limit of 8 farms in a multi-farm has been removed and Figured can now support unlimited sizes of multi-farm, as well as the accounting features required for cropping P&Ls.
Order your reports alphabetically
Figured has been ordering your reports by the chart codes in Xero, and by Figured’s default report headings.
Now you have another option to order both your accounts and report categories alphabetically instead, which can make it easier when trying to compare reports and farms.
You can change these settings under: Settings > Chart of Accounts > Report Account Ordering.
Notes & notifications feature for reports
Work better with your farming team with our new notes and notification feature when sharing reports.
When you share your financial reports, you can now add notes to any value on the screen.
Share this with other users on your farming team and they’ll see an alert on the top right hand corner of their screen then they next log in. They’ll also get a notification email.
When you download your PDF or print it off, your reports that have notes on them will have reference numbers for all the comments.
It will list all the comments at the bottom of the report for users to read.
Do you want to show financial reports up to the Farm Surplus line?
To show a financial report up to the farm surplus line, simply tick the Farm surplus only option under Additional options.
Stock Balancer access
If you are in your tracker, we’ve made it easy for you to access your ‘Stock Balancer’ without back tracking to your Trackers home page. It is now available under the ‘Tools’ dropdown menu inside your trackers.
If you cash code production in Xero and love using our stock balancer to update your recs in Figured, then you’ll probably like this change!
Renamed Budgets Tab
Where has the Budgets tab gone?
The ‘Budgets’ tab has now been renamed ‘Planning’. This is so users know that they can access and work on their forecast here, as well as their budget.
This change is also in preparation for the new multi-year scenario tool which will be another area where users can quickly create budgets.
Updates to the new cropping tracker (currently in beta)
Our new cropping tracker is still in beta (see update below for more information about getting started), however if you’re using it, we’ve made a few updates since initial release:
– Flexible quantity units, configurable by user
– Addition of production breakeven to season detail page
– Entry of production transactions on a per area unit basis
Advanced Cropping Functionality In Initial Release
We’re currently doing a staged release of the first iteration of the new cropping functionality to selected partners. This will allow practices to get started entering data and getting familiar with how the new functionality works, while providing us some valuable feedback. This iteration includes a full suite of tracking & data recording tools for cropping operations, and introduces the concept of crop margins into budgeting & forecasting.
Feedback we’ve received so far, along with Xero API changes due early Feb will allow us to build on our first iteration to produce a better cropping tracker than was originally being developed. We will have increased access to transactional data in Xero, allowing easier data entry in Figured, and more detailed reports. While the delays aren’t ideal, the prospect of a better product that is easier to use, we believe is worth the wait.
We would like to extend a sincere thank you to our partners for their feedback and ideas so far during the development of this tool.
If you’d like more information about getting started with the cropping tool, please contact us via the green chat bubble in the corner of your screen and we’ll put you in touch with your local account manager.
Aging in Stock Balancer
The Stock Balancer tool allows you to use the ‘aging’ functionality, so you can now do all your actual stock reconciliation movements from this screen.
Simply click on your ‘Trackers’ tab and select the ‘Stock Balancer’ button, then:
Select the aging field for the class you want to age from.
Scroll down to the movement section to select the class that you want to age in to.
Enter the amount of stock that you are wanting to age and click on the green tick.
Due to the number of stock classes now available within the trackers, we’ve released the ability to manage/restrict these classes, so you’ll only see and use those relevant to your farming operation.
To manage your accessible stock classes, head to a tracker and click ‘Tracker Settings’. From here select ‘Manage enabled stock classes’ and simply untick those classes you wish to make hidden/inaccessible.
Certified Advisers now visible in app
Certified Figured Advisers are now identified when searching in the app, meaning that users can see who in an accounting practice is certified in using Figured.
For users, it means they can be certain they are working with an advisor who has a sound understanding of how to get the best out of the product, and for advisers, it means their expertise is further promoted within the app and will encourage users to choose to work with those advisers who are certified.
If you want to get Figured Certified just drop us a line in the little green bubble or email email@example.com and we will point you in the right direction.
Our latest (and so far, largest) release included several key updates:
Performance improvements These changes which are mostly under the hood have made Figured faster, particularly when it comes to reporting. If you’re a multi farm client you should notice the difference! It has also placed us in a position to deliver a host of new enhancements to make managing your farm easier, so watch this space.
Organisation weights Advisers can now build out default livestock weights, dress out ratios and stock units which users can apply in their farms. If you are an adviser, click here to find out how. This makes it easy for you to have weights that you can use to override Figured’s default weights or a farm’s custom weights.
Custom weights Each farm has the ability for users to customise their live weights, dress out ratios and stock units for each tracker type under “Tracker Settings”. Click here to see how this works.
Figured bank account Reducing a category of errors where farms don’t have a bank account in Xero – we now create a dummy Figured bank account, which will be used for budgeting & forecasts where the organisation doesn’t have a default bank configured.
New farm creation process Collection of metadata during farm creation.
UI updates, bug fixes
Improvements to production related reports We’ve made livestock weights customisable at both the organisation and farm level – the end result is that you can tune your weight settings and more accurately measure overall production on your farm(s).
If you have any questions regarding any of these changes, get in touch with us via the green bubble at the bottom of your screen.
The Stock Balancer
We’ve just released our new Stock Balancer tool for our End of Year Reporter product.
The Stock Balancer gives you the ability to quickly build out your stock reconciliation in the Livestock Tracker. By automatically populating the total amount straight from Xero, you’ll be able to add in the stock quantities to match and complete your stock reconciliation in record time.
This tool is a stepping stone into expanding this functionality into our other products in the near future.
Custom Groups Tool for NSC Valuations
We’ve released our Custom Groups tool for NSC valuations. You can now customise how your stock classes are grouped together to create your own groups for NSC valuations.
You can find a Help Centre guide here, which will give you information on how to use the new functionality.
Revamped Signup Process
Farmers and Accountants can now immediately connect with one another when bringing a farm onto Figured, meaning farm setup is quicker and more accurate. It’s all about putting your best foot forward. But what if you’re a farmer and your accountant isn’t on Figured yet? No problem – we’ll contact them on your behalf.
Valuations Tool – stage 1
We’ve released phase one of our valuations revamp, which makes it easier and more intuitive to complete End of Year valuations. You can view this update by clicking Advisor > Valuations.
We’re working on getting the next component of this tool out to you soon, which will provide management valuations for tracking stock value throughout the year on actuals / actuals + forecast / budget basis.
We’ve recently introduced a new widget to your dashboard. The waterfall chart essentially gives you your variance report in a graph form. It shows you the variation between the year’s budget against the actuals + forecast values for all your key categories.
A green bar indicates where your actuals and forecast are performing better than what was originally budgeted, whereas the yellow bars indicate where the actuals + forecast have overtaken what was initially budgeted.
The updated reforecaster tool allows you to quickly enter budgeted stock movements by tracker across a whole year (for Financial Farmer users only).