A Settlement is used to settle the receipt of one or multiple commodities. On Settlements you'll assess splits, premium discounts, storage charges and any other deductions to determine the final price.
Settlements do not affect Inventory Position (the inventory movement was recorded on the Receipt).
Receipts against condo storage cannot be settled.
Grain Settlements can be in home or foreign currency, depending on the Grain Payables account of the Producer.
If linked to a Purchase Contract, grain settlements are valued using the contract's exchange rate/hedge rate.
Foreign settlements, if not linked to a purchase contract, or the linked purchase contract has no exchange rate, use the spot rate (based on settlement date).
Foreign settlements are limited to ONE exchange rate. If receipts need to be settled at different Fx rates, they need to be on separate settlements.
I want to read the white paper (with lots of screenshots) on Multicurrency.
Tips
You can use the Unsettled Grain Receipts report to identify grain receipts that have not yet been settled.
Click the Documents button to attach a file.
What you'll find:
Settlements can be added only for customers with a Grain [GL] Account saved on their customer account.
Each settlement detail Line Total must be greater than zero.
To add a settlement
* indicates a required field
Navigate to Grain > Settlements.
The Settlements home form window opens and all settlements created today are listed by default.
Click Add.
The Add Settlement window opens.
Each settlement requires a unique Settlement No* for future tracking.
If the Generate Settlement Number Automatically check box is selected, agrē assigns the next sequential grain settlement reference number to this settlement.
To enter a specific reference number, clear the Generate Settlement No Automatically check box and type a number in the Settlement No box.
In the Customer* box, enter the producer’s name.
Only producers with a Grain [GL] Account on their customer account can be selected.
Once a grain receipt has been imported, the producer cannot be changed.
In the Date * box, optionally change the effective date of the settlement.
Today’s date is selected by default. You can change this date to a past date, but future dates are not permitted.
(Config U) In the Location* box, enter the location that owns the purchase contract (this can also be set as a default).
Created By defaults to the logged-in user, but can be changed.
The Settlement Total will be updated automatically as receipts are linked.
Customer tab
Check the producer's Billing Address and Phone Number for accuracy.
Click Manage Customer to update any information.
Add any Comments pertaining to this settlement.
Optionally check Include this comment on the Settlement Report.
Receipts tab
Select Import Receipts.
The Import Grain Receipts window opens.
Tips
Use the Grain Receipts Filter fields to narrow down the list of grain receipts shown.
Check Include Receipts from Customer's Group(s) to include receipts from all members of the customer groups to which this grain producer belongs.
Click Refresh List (or press F5) to update the results.
(config C) Receipts linked to unpriced contracts can be imported.
If you want to change "Default Quantity: Outstanding Quantity" to Percentage do so before selecting a receipt row or Select All.
Check the Import box next to the receipts you want to import.
A receipt can be imported only once per settlement (even if only partially settled).
Optionally reduce the Import Qty to partially settle a receipt.
(the rest can be imported to a new settlement at a later time)
Click Use Selected Rows.
The Import Grain Receipts window closes and the selected receipts and quantities are copied to the Receipts tab.
Select a Receipt row and click Edit Row to update Open Storage details, Discount Schedule, and Levies (these edits will not affect any portion of the same receipt that has already been settled).
The Edit Settlement Detail window opens.
Add Notes as required (max of 400 characters).
Open Storage
Enter Futures Month/Year and/or Price and Basis.
Click Modify Prices to 'mass update' pricing for multiple rows (one commodity at a time).
The Modify Settlement Prices window opens.
Use the filters for Commodity* and Grade.
(config C) Check Include Unpriced Contracts to retrieve also receipts linked to unpriced contracts.
Click Retrieve to return applicable receipt rows.
Add any Notes about the pricing change.
Check Include? next to each receipt row that needs to be updated (you can use the Select All/Deselect All shortcuts).
Enter the Futures Month/Year, Futures, and Basis to price all selected rows.
Click Apply.
The Apply Prices Update confirmation window opens.
Click Yes to apply the new pricing to each of the included rows.
The Apply Prices Update confirmation window closes and the rows are updated with the new rate.
Click Update to save the new pricing.
The Modify Settlement Prices window closes.
Discounts
Adjustments are imported from the Receipt and can also be added manually.
Percentage and Per Bushel Grading Factor Discounts are imported from the Receipt and cannot be added manually, but the Rate can be changed.
Grade-type grading factor discounts can be added and the Rate can be changed.
Click Modify Discounts to update the discount rate for multiple rows.
The Modify Settlement Discounts window opens.
Use the filters for Commodity*, Discount*, and Grade, then click Retrieve to return applicable receipt rows.
Check Include? next to each receipt row that needs to be updated (you can use the Select All/Deselect All shortcuts).
Add any Notes about the rate change.
Type the new Rate and click Apply.
The Apply Discount Update confirmation window opens.
Click Yes to apply the new Rate to each Included row.
The Apply Discount Update confirmation window closes and the rows are updated with the new rate.
Click Update to save the new rate.
The Modify Settlement Discounts window closes.
Levies are calculated at the time of settlement and deducted from the amount owed to the producer.
Click Update to save your changes.
Check Automatically Apply Unapplied Credits if this will be settled with credits instead of a payment.
Unapplied Credits can be generated by manually unapplying payment credits, or by transferring chargeable AR Balance.
Check Immediate Payment (and fill in the payment details) to automatically generate a payment and link it to this settlement in a single transaction.
Optional: click Split to split the settlement between this producer and other producer(s) in their Customer Group.
The Settlement can be split 100% - just don't save the Settlement for the original producer as the quantity will be 0.
Click Save to save the settlement.
(Config C, U) If you have requested to be prompted to print on save, you'll be prompted.
Splitting a Settlement allows the producer with the Purchase Contract and/or Receipt to distribute a portion of their Settlement total to other producers (like their landlord).
Settlements can be split only with producers who are in the same Customer Group and also have a Grain [GL] Account saved on their customer account.
(it's not enough just to be in the same customer group, they need have the Grain GL too)
A Settlement can be split 100% (fully transferred) to another producer.
Splits can be based on Percentage, Net Quantity, Gross Quantity, or Total $ (entire settlement split only).
As the Splitting Settlements window works very similar to the Splitting Invoices window, you may find it helpful to read the Splitting Invoices section of the AR Split Billing white paper.
Business Rules For Split Settlements:
only unpaid Settlements with a positive Total $ amount can be split
producer(s) to split with must be in the same customer group and they must also have a Grain [GL] Account saved on their customer account
split Settlements are not saved automatically
Reference Numbers may be automatically generated on Save using the next available number
To split a settlement
* indicates a required field
Navigate to Grain > Settlements.
The Settlements home form window opens and all settlements created today are listed by default.
Add or Edit a Settlement for a grain producer as you normally would.
Tip
Save the original Settlement before you split it (unless you know you’re going to split off 100%). If you make a mistake, you can exit all the split settlements (without saving) and start over with no changes to the original.
Click the Split toolbar button.
The Settlement Split window opens.
If you change your mind and no longer want to split the settlement at all, click Exit on the Settlement Split window.
While you're splitting, you can click Remove Split at any time to remove a row.
From here you can choose to split the entire settlement or split individual receipt rows.
to split the entire settlement
Split Entire Settlement is the default split method - no need to select it.
Check Force Equal Splits if the settlement is being split equally between all selected group members.
This allows agrē to recalculate the percentages for you as you add more grain producers.
The name of the grain producer on the settlement is automatically added to the Customer list (and cannot be removed) and initially gets 100% of the load.
Click the down-arrow next to the empty Customer row to select who to split the settlement with (you can also type the name if you know it).
Note
The split percentage can be 100%- just don't save the Settlement for the original producer as the quantity will be 0.
If Force Equal Splits is not checked, indicate the percentage, net or gross quantity, or dollar value each customer is getting (agrē will calculate the other values when you press TAB).
The percentages must total 100%.
to split settlement lines
Click Split Settlement Lines.
Select the receipt row you want to split and click Split Line (or double-click it).
The Split Settlement Line window opens.
Check Force Equal Splits if the line is being split equally between all selected group members.
This allows agrē to recalculate the percentages/quantities for you as you add more grain producers.
The name of the customer on the settlement is automatically added to the Customer list (and cannot be removed) and initially gets 100% of the line.
Click the down-arrow next to the empty Customer row to select who to split the line with (you can also type the name if you know it).
If Force Equal Splits is not checked, indicate the percentage or the quantity (agrē will calculate the other values when you press TAB) each grain producer is getting.
The percentages must total 100%.
Click Update to split the line.
Repeat until all lines required are split.
Click Split to the Settlement.
The split-off Settlement(s) are created but not saved automatically.
This gives you a chance to check Discounts, Levies, Pricing, etc. before you save each one.
Tip
If you saved the original settlement before you split (and we recommend it), save that one first.
Save each settlement.
The reference number of split settlements will display an "S" to identity them.
(Config C, U) If you have requested to be prompted to print, you'll be prompted for each settlement as it is saved.
Settlements can be edited if:
Settlement is in an open accounting period
Settlement has no credits applied (i.e. Payments)
A reason must be entered when a Settlement is deleted.
A Settlement can be deleted if:
Settlement has not been paid already
Settlement is in an open accounting period
Tip
The delete details are available from the Deleted Settlements data export.