To import your Farmlands statement, you'll need to sign up for the free service.
Your statement is then automatically fed into your Actuals - Needs Action screen, under the Invoices heading, by the 10th of each month.
How to code your Farmlands statement
Before the statement can be moved to the Completed section, each invoice line needs to be given a category and extended code.
Open the statement sitting in the Invoice area of your Actuals - Needs action screen.
Enter a code for each line.
When you have finished coding, click Save at the bottom of your invoice.
TIPS:
Set up Invoice coding rules to reduce the amount of time spent coding
Use Bulk code and merge features to simplify your invoice coding
Match your Farmlands statement to the bank transaction
When the bank transaction that relates to the Farmlands statement arrives in Farm Focus, match the transaction to the pre-coded Farmlands statement. Click here to find out more about matching.
Troubleshooting and FAQ’s
Watch this video to learn how to manage your Farmland feed if the invoice amount from your connector does not match the payment deducted from your bank account.
Here are some tips to help you on your way.
Is the total amount correct?
The Invoice amount should match the payment that was deducted from your bank account.
Click the amount at the top of your Farmlands invoice to edit the invoice's total
Do you have lines for items paid in-store?
Items that were purchased and paid for in-store will appear on your statement and add up to the total amount. You can:
Delete these lines if they are not needed, or
Add a new line to show that personal funds were introduced to pay for the item.
TIP: Don’t forget to adjust your total amount when adding or removing lines.
Missing information?
Occasionally a Farmlands invoice will arrive in Focus missing a charge that shows on your statement.
Click + Add new line to manually enter the missing information.
What Farmlands card was used?
You can tell who purchased what as the last 3 digits of your Farmlands card number are included in the description field or notes section.
Deferred items?
Deferred payment arrangements are between you and your supplier.
Because deferred expenses aren't necessarily classed as loans, you should check with your accountant whether you should claim GST based on the purchase date or payment date and ask how they would prefer you to record these items in Focus. For more information Click here.
Returned items?
If you have purchased an item and returned it to the store for a refund, you may notice that it doesn't appear correctly within your statement and may have reduced the amount deducted from your bank. Please contact Farmlands for clarity about the charges and refunds against your account.
Farmlands Finance
The approach to the management of a farmland finance contract depends on the specific terms and conditions. We strongly advise you to talk with your accountant about the best practices for managing the contract. This is generic information.
Drawdown of loan
If you are using a Farm Flexi loan:
Code the Farmlands invoice as per normal (claiming GST as appropriate). As they are loans you can immediately claim GST for goods paid for with these loans.
Change the header invoice amount to the amount you want to pay.
Create a new line on your invoice to record the amount Finance Now will contribute. This amount is the balance of the full amount of the invoice minus the amount you will pay. You can create a new code under Other > Loan Repayments > Finance Now Loan.
Go to your Matching page and match your Farmlands Invoice with your Farmlands Bank Transaction.
Repayment of loan
Refer to your Farm Flexi loan statement for the amount you need to repay on any given month.
Code the loan repayment to the same code used when you drew down the loan. Code under Other > Loan Repayments > Finance Now Loan.
TIP: If creating a new code refer to Add a new farm code.
Restore a deleted Farmlands feed:
If you have deleted a Farmlands feed by mistake and want to restore it to your Needs Action screen:
Go to the Connectors tab in your Settings
Click into your Farmlands connector and click to Disconnect Feed
Go back to your Connectors screen and you will see that Farmlands is no longer active.
Reactivate your Farmlands connection by entering your details again, but this time ensure that the Farmlands Feed start date is BEFORE the feed you accidentally deleted. It will take approximately 24 hours to reactivate your feeds, and the feeds will reappear in your Needs Action screen.
