Inconsistency in invoice & payment dates causes issues with Dairy Forecaster
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Carol Bovey
Hi, when a client changes how they date their milk income during the year eg. putting an invoice date the same as receipt date one month then next month putting 31st of prior month as invoice date, it stuffs up the Dairy Forecaster which shows error that there is no data (when there is). If they are on payments-basis GST the invoice date can be changed to fix this but if they are on invoice basis GST we can't change the invoice date. Could you consider rewriting how the Forecaster picks up the milk dates? The payment date month is always correct in our experience as that comes from the bank data. The invoice date however can be random. Carol
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Jane McLennan
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Hi, Farm Focus has made some changes to the dairy forecaster. In Farm Focus your production data will align with your working plan when using Dairy Forecaster. It is standard accounting practice for the invoice date to reflect when the work/milk supply occurred. IRD has granted Fonterra an exemption and Fonterra invoice date (Issue date) is for the month of payment and not supply. When coding Fonterra invoices, use invoice date and Farm Focus will automatically align date of supply in the Dairy Forecaster (For example if Issue date is 7th Sept and payment date 15th Sept, Farm Focus will infer August supply in the Dairy Forecaster).
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Abi Farm Focus
Thank you for your feedback - Best practice for dealing with Milk Income is to create an invoice for both the Milk produced and the Levies etc (we aim to have a Connector with Fonterra for this information in the near future) - by doing this you are able to select the appropriate invoice date - this is then matched to the bank transaction but the invoice date is retained and used in the dairy forecaster . This method of creating an invoice ensures the consistency of the information.
Unfortunately we are unable to determine the invoice on their behalf as different dairy companies have differing invoice dates. If you need further clarification please do not hesitate to contact our support team
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Rachael Zino
Thanks for the post frustratingly we have the same issue