Title Transfer Date
Title Transfer Date (TTD) is used as an alternative to the ITAS standard for recognition of Released P&L i.e. Sales Invoice Date. This is the S01 configuration (ctrl02_xferofrisk = T)
TTD is used for Purchase Trades to determine Inventory status, with the qualification of not being delivered to the buyer
(phys01_deliverydate=0) further classifying the tonnage as Inventory-in-Transit.
TTD completed on a Sale Trade indicates Realised P&L. Sales TTD can only be updated when the trade is allocated.
TTD can be maintained automatically by S01 configuration (ctrl02_titletransfer=''), whereby Invoicing will update TTD with respective Invoice dates.
If TTD are to be updated automatically applying TRADE Contract terms as the control data (ctrl02_titletransfer=’C’), the system is reliant on good Logistics maintenance e.g. BL date, delivery date, warehouse dates. The PHYSCODES/Contract Terms must be maintained with the correct control dates to auto populate the TTD. There is a TRAFREP report style (27) that will identify differences between standard terms and their TTD.
A sample list of how the Contract Terms can be setup:
| | | | | |
| | Contract Terms | Description | TT Rule | TT Rule |
| | Code | | Purchase | Sale |
| | | | | (Allocated) |
| | CFR | C. & F. | B/L Date | B/L Date |
| | CIF | Cost Insurance Freight | B/L Date | B/L Date |
| | DAFRT | DAF | Arrival Date | Arrival Date |
| | DAP | Delivered at Place | Arrival Date | Arrival Date |
| | DDP | Delivered Duty Paid | Arrival Date | Arrival Date |
| | DDU | Delivered Duty Unpaid | Arrival Date | Arrival Date |
| | EXW | Ex-Warehouse | Date W'housed | Release Date |
| | FCA | Free Carrier | Date W'housed | Release Date |
| | FOB | FOB | B/L Date | B/L Date |
| | | | | |
| | INS | In Store | Date W'housed | Release Date |
| | | | | |
| | | | | |
| | | | | |
The following ITAS procedures apply TTD:
- PINVGL/SINVL, block Goods Invoicing if no TTD
- GPLREP, Position and P&L reporting
- EOMPO, month-end accrual reporting and accounting entries
- PROMAN, Specialist Inventory management
- FREEZE will secure P&L values for application in GPLREP on FREEZE tables. Various logistics dates are rolled-back(removed) if their date is inconsistent with Freeze date e.g. Jan15 freeze and delivery date = 2feb15 whereby delivery date is reset = blank/null.
It is expected that there would be no need for manual amendment of the TTD, except maybe during Month End procedures when the CMP /Privilege ‘TRADE/TITLEDATE’ would be assigned to the relevant Financial personnel. The TTD manual maintenance is executed in TRADE/Status page.