Advance Settlement

Advance Settlement – Open Contract

Go to Grn>Settlement>Produce a Settlement

Select 2) Advance Settlement

Enter current cash price and select advance option

*If the contract is unpriced enter the current cash price (Futures plus or minus the basis makes up the cash price).

*If the contract is priced Current cash price can be left blank.

Enter the contract number in the Beginning and Ending Field

*Contract date, percent, type and location are optional fields

Select the contract

Enter Bushel Price (or leave the default)

Enter Advance Percent or leave blank if entering a predetermined figure

Enter the BU Quantity to advance on

80% Advance Percent auto fills the Advance Amount

This example displays zero Advance percent and leave the Advance amount field open.

Click on Continue

Click on Ok

Select to Update/Print Settlement

Send the Check to A/P Voucher or Create a Check