Your first farm cashflow
Build a simple July to June farm cashflow, put sales and GST in the right months, and find the month your overdraft is at its lowest.
Who it's for: Pig, cattle and sheep farmers building their first monthly cashflow, or fixing one that never quite matches the bank account.
Lessons
By the end you'll be able to
- Explain why a profitable farm can still run short of cash
- Set up a 12-month cashflow from July to June
- Put sales, costs, GST and loan repayments in the month the money moves
- Find your lowest month and keep the forecast up to date
Each lesson has a short read, a worked example on an invented farm and three quick questions. Finish them all for an optional certificate of completion. Free, no sign-up, not nationally accredited.
Want this done on your own figures?
The course explains how it works. If you'd rather have it done on your farm's real numbers, that's what our Bank Review Pack is for.
Sources
- Australian Taxation Office, How GST works
- Australian Taxation Office, When and how to report and pay GST
- Australian Taxation Office, Due dates for lodging and paying your BAS
- Australian Taxation Office, Business activity statements (BAS)
- Study Australia (Australian Government), Tax and superannuation: the financial year runs from 1 July to 30 June
- Agriculture Victoria, Rural Financial Counselling Service
Talk to Nick about your next bank review
We work with farm businesses Australia-wide by phone and video, with regular farm visits on the east coast. Get in touch for a no-obligation chat about what you need and what it would cost.