Spot Contracts: Enter additional information when applying to a Spot Contract (AGS-11551)

Table of Contents:

A. Benefits:

• Reduce time and effort by eliminating the need to edit the Spot Contract after the loads have been applied.
• Maximize reporting capabilities for Spot Contracts.

B. Details:

• Apply to a Spot Contract: You can now enter Freight Rate, Brokerage, Other Price, Shipper Name ID, Agent/Broker ID, Other Name ID. Misc. Name ID, Salesperson, Territory, Market Region, Origin location, Destination Location, as well as the Price, Basis, and 12 Miscellaneous Price Fields.

C. Setup: Available Fields for Spot Contracts 

Navigation: GRN > Setup Information > Contract Types > Spot Contracts > Available Fields (Purchase an Sales)

The above configuration allows you to specify the fields that you want available when editing a spot contract.  Some of the fields are also available when applying tickets to a spot contract.  Prior to this enhancement, the green outlined fields were available when applying to a spot contract.

All the red outlined fields are now also be available when applying to a spot contract (0=Not Available, 1=Optional, 2=Required), which include:

D. Apply Tickets To A Spot Contract 

Navigation: GRN > Ticket Entry/Apply From Hold, Apply To Spot Contract

Prior to this enhancement:

• The screen shot below shows the available fields when applying to a spot contract. 
• The Price, Basis, and the 12 misc. price fields are available. The futures price is also calculated and stored, as well as the default board and near-by board month for that commodity.
• Notice that an additional window pops up to enter the misc. price fields. The window is strategically placed so the user can still see the Price and Basis that was entered behind the pop-up window (outlined in red).

With this enhancement:

• The screen example below shows all the possible fields available when applying to a spot contract. 
• The Price, Basis, and the 12 misc. price fields are still available.
• Twelve additional fields are now available (Freight, Brokerage, Other, the 5 user-define-able transaction code fields, and the 4 Name IDs shown below).
• The pop-up window is still strategically placed so the user can see the Price and Basis behind the pop-up window.

• All the price fields on this screen will default to zero.
• The 5 transaction codes will default from the ones in Name/Address for this customer. All Name ID fields will default to blank. If the fields are setup to be required, the screen above will force the user to enter them at this time. 
• All the Transaction Codes and Name ID fields will allow the user to pick the appropriate choice from the search icons. The Codes and Descriptions will be displayed when selecting these values.

E. Apply From Storage To A Spot Contract 

Navigation: GRN > Settlements > Apply From Storage > Apply To Spot Contract

This screen example (with this enhancement) shows the new fields will also be available when applying from storage to a spot contract. This particular example shows just a few of the fields setup to be available. The “Commission Rate” and “Logistics Charge” fields show how you can rename the Misc. Price fields to be used for your own business purposes. These can be renamed under Setup Information, Contract Information.

The new fields will be available when applying to a spot contract within all of these menu options:

1. Ticket Entry
2. Cross-Country Ticket Entry
3. Apply From Hold One Ticket At A Time
4. Group Apply Tickets From Hold
5. Apply From Storage

Other Note: The Freight Rate is now available to be entered. When it is entered here, it will be updated on the spot contract. It will not be used from this screen, to pass back that charge to the customer or to create a freight expense payable.  The freight discounts and freight expenses will still be entered in the usual way, on each commodity ticket.

Related Content: