Teagasc Profit Monitor (€PM)
Helping you understand your farm business finances
The 2022 version of the Teagasc Profit Monitor has improved features and reports. It offers a more detailed analysis on the asset and liability aspects of your farm using an enhanced balance sheet analysis. Discussion groups can pool their figures together to benchmark and compare financial and technical performance between the farms.
Use the Teagasc Profit Monitor to:
- Establish the physical and financial performance of your business
- Benchmark your performance against other farms
- Monitor progress on your farm over time
- Set realistic targets to improve profitability from your enterprises
- Forms the basis from which you can complete your Cash Flow Plan
- Take control of your business to return more profit!
Want to complete a Profit Monitor?
Full Access to the Teagasc Profit Monitor System is available only to Teagasc Clients.
- Teagasc clients contact your advisor to register and get access to the Profit Monitor or click on the 'callback' link above.
- To enquire about becoming a client, please contact your local Teagasc office or click on the 'callback' link above
Use this login link if you have already signed up and registered for access to the Teagasc Profit Monitor. Profit Monitor login:
Click on the link below to access video support on:
- Resetting password
- Entering data
- Getting and printing reports
The Teagasc Profit Monitor is an online financial analysis tool available to all Teagasc clients.
Information on farm sales and farm expenses and costs can be entered and reports viewed online, by either the farmer or his/her adviser using their own computers. Farmers and their advisers can work together to enter the information as accurately as possible and therefore ensure that the programme can produce an accurate report on the farms financial year.
To gain access to €PM to enter information and view reports you should contact your Teagasc adviser and ask to be registered for the Teagasc Profit Monitor.
How can I use it?
Use the Profit monitor to get a detailed financial breakdown on your business.
- Look at each enterprise e.g. dairy, cattle, sheep, tillage and analyse each enterprise by its principle unit of production - litre of milk, kg of beef, tonne of grain.
- Compare your farm figures with Teagasc target figures for your farming system
- Identify areas of weakness and strength. Areas of weakness can be tackled and targets set for ongoing monitoring throughout the year using the Teagasc Cost Control Planner.
- analyse your farm on a whole farm basis and/or on an individual enterprise basis.
- If you are a member of a discussion group your group co-ordinator can pool your farm data with data from the other farms in the group to produce group analysis reports. These can be useful for discussion purposes and can also be used to benchmark your own farm business performance.
At all times the identity of individual farms can remain confidential on these group reports.
A Profit Monitor analysis carried out on your farm on a yearly basis will keep you in tune with how your farm business is performing. Comparing the latest yearly analysis with previous years will allow you to monitor your progress in achieving your yearly targets. It will keep you informed if changes made in the way you operate your farming system, are having a positive effect on farm profitability.
What information is required?
Typical information required for an eProfit Monitor analysis will include some of the following:
- Details of the product sold off the farm- both amounts sold (litres, kgs of liveweight, tonnes of crop sold) and the total value (€) of all sales
- Details of all farm expenses/production expenses and overheads that were incurred in the operation of the farm business during the year
- The latest set of farm accounts- Balance sheet, Profit and Loss, Capital Account
All of this information is available to you in the paper records- herd register, chequebooks, factory sheets, invoices etc. that you have accumulated during the year.
Better still if you have been involved in keeping Teagasc Cost Control Planner records you will have almost 90% of the required information for a Profit Monitor analysis already easily accessible.
Profit comparison graph
Top 5 fixed and variable costs
Multiple years stocking rate