All livestock are assumed to age up at the end of the financial year and this happens automatically in Farm Focus, unless the setting is changed or the ssetting needs updated. Ageing up at the end of the financial year is an industry-wide concept, used for simplicity and consistency. All classes of stock age up before midnight on the last day of the financial year, so closing numbers are 'aged-up', and equal next years opening numbers.
Managing stock numbers accuratley is vital for performance reporting and to accuratley calculate your tax position. While Farm Focus doesn’t calculate tax for your business, your accountant will refer to the closing livestock numbers when they’re preparing your end-of-year accounts.
Auto aging Livestock in Farm Focus
Go to Settings > Codes > Farm Codes > Select Livestock class of interest.
Scroll down to the "Age To" section and choose the stock class that the animal will age up to.
Tips:
Coding- The rule of thumb is to use when coding sales and purchases, or entering non-financial events (like births and deaths), code to what the animal started the financial year as. As an example, lambs sold in July will be coded as hoggets if the end of financial year is 30 June as they have aged up on 30 June, even though you would still consider them as lambs in the paddock.
Keep it simple – Keep your code list of stock classes as simple as possible. Do you need to have multiple codes for different lambs, or is it simpler to have Replacement Lambs and Prime Lambs, for example.
Non-financial events - Don't forget to record your non-financial events like births and deaths. These must be entered manually as their is no transaction to code.
Stock born on farm –No lambs or calves should be recorded in the opening number of your stock reconciliation. Lambs or calves are born within a financial year, and age up to the next stock class at the end of the year, so always open aged up.
Autumn-born progeny - Lambs or calves born in Autumn that will age to Hoggets or 1-Year-olds at approximately 3 months of age.
Examples of Stock Reconciliation: Source Rural Field Consultants Ltd
