NEW IOWA INDEMNITY FUND TAKING EFFECT 9

NEW IOWA INDEMNITY FUND TAKING EFFECT 9/1/23

This new fund should be handled like Grain Assessment, make it a Discount Taken at Settlement Time. It can be added to the Default Discount Tables, by Contract Application Types of Priced & Spot, etc. It is to be charged to Producers only, like Grain Tax, so the Name Address flag on the Default Table will apply to determine who is charged, which will be the same customers that get charged Grain Assessment.

Steps needed:

1. Create new Discount Code (if one doesn't already exist.)

2. Build the Discount Table – Remember to build a No Table also, that does not deduct the fund, for those customers that you will not collect the fund from (Grain Dealers, Elevators, etc)

3. Update Default Discount Tables for the appropriate Application Types of Priced, Spot, etc.

4. Map a new Ledger Account Code, as a Balance Sheet Liability Account.

5. Map SJI in Commodity System Accounts for the Discount Code to the Ledger Code.

Reviewed by Arlena Bannon 7/24/23