Accounting for agriculture within the cloud

Agriculture is an ever-changing business. Calls for on Canadian farmers to feed a rising world inhabitants proceed to rise and the complexity of recent farming means farmers must be consultants in a broad vary of areas – each on the farm and within the workplace. That’s why Xero and Figured have come collectively to kind a whole farm administration resolution for advisors and their farming shoppers to run a extra knowledgeable and environment friendly enterprise. 

As a part of Xero Training Month, be part of us on November 23, 2021 at 1:30 pm EDT for a deep dive into the Xero + Figured workflow to rework the best way you’re employed along with your agriculture shoppers. Register right here.

At this time’s agriculture sector

The agriculture sector is a crucial business to the expansion of the Canadian financial system. Based on Statistics Canada, realized internet farm earnings rose 84.2% in 2020 and farm money receipts, which embrace crop and livestock revenues, elevated 8.3% to $72.2 billion in 2020 – the most important acquire since 2012 (+8.7%).

From altering insurance policies to unpredictable environmental impacts, farmers proceed to face many challenges and now greater than ever there’s a larger want for farm enterprise advisors. The most recent {Dollars} and Sense research replace from Farm Administration Canada, revealed that the flexibility to learn and use Monetary Statements and having a proper danger administration plan has considerably declined over the previous 5 years.

Harvesting worth on your apply and shoppers

With Xero and Figured, you possibly can assist your shoppers higher perceive and implement finest practices to handle their farm. By fixing regulatory monetary compliance, individuals compliance, and budgeting and forecasting wants, shoppers may have an up-to-date view of their complete enterprise and a transparent technique for the longer term. 

Utilizing Xero and Figured collectively, you possibly can:

• Scale advisory and plan conversations with ease
• Use information to drive proactive conversations with shoppers
• Finances and forecast effectively
• Standardize reporting to cut back handbook information entry and drive inside efficiencies 
• Collaborate with the entire farming staff

Empower your shoppers to make data-driven choices to be in the absolute best place to entry financial institution capital with the boldness to behave shortly.

Be taught extra about Figured right here. 

For a dwell demo and entry to extra assets , join for our ‘Accounting for agriculture within the cloud ’ session as a part of Xero Training Month 2021. You can too be part of one of many different 50+ webinars. With specifically curated content material for each small companies, accountants and bookkeepers, there’s one thing for everyone. Be taught extra right here. 

Statistics Canada. Desk 32-10-0052-01  Web farm earnings (x 1,000)
Statistics Canada. Desk 32-10-0045-01  Farm money receipts, annual (x 1,000)
Farm Administration Canada, {Dollars} and Sense 2020 report replace