# 188 - Knowing Your Numbers How to Build A Stronger Farm Financial System with Jayne Walsh, Tim Fowler, Renee Nicholls, and Bec Balfour

This week, Sam Johnsson hijacks the podcast while I’m off on a skiing holiday in Austria and he takes on a topic that might not sound flashy, but can quietly change everything in a farm business: building a strong financial system.

Because for a lot of farm owners, the numbers are still something that sit in the background until they become a problem.

And that’s a hard way to lead.

When the books are behind, the reporting is patchy, or the numbers only come out at tax time, it leaves people making big decisions without a clear view of where the business is actually at. That creates stress, second-guessing, and a constant sense of being on the back foot.

In this conversation, Sam is joined by Jayne Walsh, Tim Fowler, Renee Nicholls, and Bec Balfour to unpack what good financial management actually looks like in a real farm business.

Between them, they bring lived experience from multi-generational farming operations, succession, enterprise management, and bookkeeping support for rural businesses. And what comes through clearly is this: strong financial systems are not just about compliance. They are about clarity, confidence, and better decisions.

We explore the gap between “doing the books” and actually using your numbers to lead the business well. From clean data and simple chart-of-accounts structures, through to forecasting, enterprise analysis, cashflow visibility, and stronger conversations with banks, this is a practical discussion about getting out of reactive mode and into a much more proactive way of operating.

Here’s what we uncover:

• Why weekly reconciliations and end-of-month processes create confidence in the numbers

• How forecasting helps you adjust as the season changes instead of reacting too late

• The value of enterprise-level reporting to understand what is and is not making money

• Why banks and lenders respond better when your numbers are current, clear, and well presented

• Practical first steps for farm businesses wanting to improve their financial systems this year

If you’ve ever felt like the financial side of the business is heavier than it should be, this episode is a good reminder that you’re not bad at business, you just might not have the right system yet.

Because the goal here is not to become an accountant.

It’s to build enough visibility and rhythm around the numbers that you can lead with more confidence, make better decisions earlier, and stop carrying that constant uncertainty in your head.

Bec Balfour from Rembiz Bookkeeping and Renee Nicholls from RN Business Consulting both work with rural businesses to bring more clarity, structure, and confidence to the numbers. You can reach Bec at rembiz.com.au or rebecca@rembiz.com.au, and Renee at rnbusinessconsulting.com.au or renee@rnbusinessconsulting.com.au.

Sam, Jayne, Tim, Renee, and Bec - thank you for a conversation that gets to the heart of what strong farm finance looks like. There’s real value in this one for any farm owner who wants to feel more in control of the business, rather than be overwhelmed by it.

Keep winning, Jeremy Hutchings & the Farm Owners Academy Team