Daily Procedures – Commodity Accounting

CHECK THESE AT THE BEGINNING OF EACH DAY:
Are you in the CORRECT DATASET?
Are you in the CORRECT LOCATION?
Are you on the CORRECT DATE?
Changes to these fields are made under AGRIS > File menu.

AGRIS>GRN

Enter All Outstanding Scale Tickets -

Shipments >Ticket entry

INBOUND:

Date for prior days scale tickets is entered on the shipment date, to calculate storage and other charges properly.

Apply tickets to:

Open contract – a purchase contract previously entered, to fill

Spot contract – a ticket priced at the scale

Open storage – if there is no averaging of grades/discounts

Delayed price – no price, will be priced later. Company retains ownership.

Grain bank – grain to be used in feed mixes

Place on hold – allows averaging of groups of tickets for discounts, such
as moisture, test weight, drying. Also placed on hold,
when you are unsure of the actual application.
Note*Inbound transfer ticket will automatically be applied where needed.

OUTBOUND:

Date for prior days scale tickets is entered on the shipment date.

Apply tickets to:

Open contract – a sales contract previously entered, to be filled

Spot contract – a priced sale, with no previous contract entered

Place on hold – client load-outs (may have storage or grain bank applied later)

Place on hold – tickets to be applied to an unknown contract

Place on hold – tickets to average or adjust weight and/or grades
Note *Out-bound tickets placed on hold, will show on your position as out-transit until
applied from hold.
Note *Out-bound transfer tickets will automatically be applied where needed

Enter Sales And Purchase Contracts Daily - AS MADE.

Contracts> Contract maintenance

Add new or view/edit, if changing an existing contract.

Note * If pricing or changing the price of an existing contract(s), that already
has tickets applied against them use: Contracts, Price contract option
Contracts effect your hedge position, if you do not keep them entered, your
hedge position will not be current.

Apply Tickets from Hold

You do not have to apply all tickets from hold, every day. Apply groups of tickets or a ticket, as needed.
Shipments>Apply from hold> Group all tickets or select a ticket
If averaging, you can average one or more discount factors. You can also select each ticket you want to average or group together.

Produce a Delivery Sheet –

Delivery sheets must be produced, before you can make a settlement, a client load-out, or grain bank ticket.
Settlements> Produce a delivery sheet
Final stage: update files and print delivery sheet
You do not have to produce a delivery sheet of every load. Groups of tickets can be on one delivery sheet. You can select the ticket(s) you want on a delivery sheet.
Note * To reprint a delivery sheet, go to settlements and produce a delivery sheet
(enter the necessary information and the delivery sheet number you wish to
reprint), then print delivery sheet

Apply From Storage

Apply to Client Load-outs or Grain Bank Outbounds

Settlements> Apply from storage
Either: Open storage, or grain bank
Select the bushels and apply to option: Client load out
You will be able to see the outbound ticket number that will be applied to.
The delivery sheet was done previously. You are ready to produce a settlement.

Apply from Open Storage, Grain to Be Priced for Settlement

Settlements> Apply from storage.

Tickets must be on a delivery sheet.

Apply from: Open storage -Apply to Spot Contract (Enter the Price)

When the screen comes back to – apply from. (escape)

You are ready to produce a settlement.

Apply from Open Storage to an Existing Contract:

Settlements> Apply from storage
Apply from: Open storage (select bushels to settle)
Option: Apply to an existing contract
You can, but do not have to make the final settlement, at this time.

Settlements:

Settlements for both purchases and sales will be made throughout
the day. Before a settlement can be final and a check written:
(a) Have the necessary tickets been applied from hold?
(b) Has a delivery sheet been produced?
(c) Are the tickets actual weights/grades, no estimates?

1. Has a price been applied?

PRODUCE A SETTLEMENT –

Go to settlements> produce a settlement
Settlement type: final settlement
Select the line or lines to settle
View/edit the deductions, if necessary
Update/print settlement sheet
Create A/R invoices (yes or no)
Enter the check number or receipt number
Continue entering to print settlement sheets and checks.

Balance your Daily Grain Reports, Each Day.

Set a cut off time, to begin balancing your reports. Allow ample time, to get through. Any tickets not entered can be entered the following day. Exception being the end of the month and you will want all work complete.

SUGGESTED REPORTS TO RUN FOR BALANCING

These reports and others can be set into a report stream or run individually.
(a) Ticket reports – by commodity, in/out, location, transportation mode.
Totals on tickets entered should balance to your ticket report.
(b). Settlement report – by commodity, purchase/sale, location.
Totals of checks written should balance to report.
(c). Inventory position report – report tracks the movement of all grains.
(d). Hedge position report – Shows changes on contracts and hedgable grain.

1. Customer status reports – Good to use as a reference, should the computer be busy or down.

After you have run your reports, you can make necessary changes and correction, if needed. Reports can be re-run.

Begin a New Day!!

Begin a new position day for every day, including Saturday and Sunday, even if there is no activity. For audit purposes this will show you did not skip a date.

~ Document Written by: Arlena Bannon & Pam Dahlke