TRADE process features
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General Activities
General activities are not contract specific. Upon entry into TRADE these options are available before a contract is selected.
Next Numbers
This feature will show which TRADE references are to be used e.g. Tolling, Mixing, Purchase, sale references.
Short Trade Entry
This allows for the quick entry of the essential TRADE information (useful for busy traders)
Contract Closure
This allows for mass marking of TRADE records with the status of closed
Archiving Status
This produces an audit report of the status of all TRADE contracts that have at least 1 sub-record marked as closed. This is used by the TRADE administrator to ensure efficient housekeeping.
Manufacture
This feature is enabled by the S01 entry of the Cost accrual account (ctrl30_costaccrueacc) and is a specialist process for administrating stock production.
There can be multiple out-turn weights/pack units and the in-turn list of contracts can be any number of unallocated purchases. A complete audit is maintained to allow for manual ‘reversal’ of a process (recall Out turn TRADE /right click./View Manufacture)
TRADE records can be setup as SPOT inventory, available to secure out turn tonnage (provides weighted average Price).
The manufactured tonnage is added to the .000, with a full record of all intakes to be viewed from the TRADE/add-tonnage feature.
Alternatively new out-turn records can be created by no entry in the contract reference field.
The stock transfer value (including any costs entered during the process) is added to the target TRADE (with weighted average price).
The Invoice marking only reports the total of all transfers with the latest document reference.
The Invoice marking only reports the total of all transfers with the latest document reference.
The process cost can be in any currency.
The in-turn TRADE cost details will be updated with the process cost code ‘PRC’ and the ‘not to be actualised’ flag will be ticked; this is because the process cost will be posted directly to the Accrual account.
If the process cost is in a different currency to the out-turn TRADE value, the cost accrual will be translated through the nominated FX P&L account at spot exchange rates.
There is a complementary TRADE/Spot Purchase feature for transferring any remaining tonnage to another TRADE. This enables the tidy-up/closure of the origin SPOT TRADE. The tonnage, packs and value will be tolled-out to the selected new TRADE, with it’s transfer value accounting document.
The out-turn production can be ‘un-done’ by recall of out-turn TRADE, right-click ‘View Manufacture’ and click ‘Reverse Process’. This will reverse the accounting entries, clear the out-turn record by corresponding tonnage/value and remove marking from in-turn records(s) including any Costs that were added by the Manufacture process. Checking on the Reverse request will block if trade is allocated or there is insufficent tonnage remaining on the .000 record.
There is a complimentary S01 feature (ctrl30_manureceive) that will initiate the creation of a specific Cost (PHYSCODES/Cost type/nominate -
ctrl07_manureceive) on the in-turn record(s). The cost will be a Receivable amount corresponding to the transferred amount in target currency units.
TRADE has a trace feature (right click) to trail back to in-turn details.
Move Residual Tonnage
This function enables the transfer of the remaining tonnage from an open status, Spot classified Purchase to another Purchase similarly setup. The purpose is to enable subsequent closure of the old TRADE for tidy housekeeping. Any Invoice value is also transferred using IT accounting documents. This functionality assists the tidy operation of the manufacture process where tonnage is tolled onto a Spot classified Purchase (stock pile) trade record.
UnderFills
There are procedures that can be applied to administrate a fully hedged TRADE that has been Under Filled i.e. delivered less tonnage than administrated to calcuate the TRADE price. An underfill can be handled by different TRADE processes; the most simplistic is to unmark the TRADE (Fixing header) as Fully Fixed, apply the buy back TERM with a spread P/D (if relevant) whereby the weighted average price is recalculated when the revised Full Fixing Lots has been re-established.
Other more visible processes are to apply the S01 configuration (ctrl30_pfixpd) that will enable Premium/Discount to be entered per fixation. This is useful where a fixing has been executed on a market/prompt month but a spread needs to be applied to those lots. The p/d is entered signed accordingly. The impact on the price is computed and secured on the Priced tab as the P/D with a message to the user. There are 2 styles that can be S01 configured
‘Disc/Prem’ Style
The TRADE F&O Premium/Discount will be recalculated and updated accordingly.
E.g.
P00001.A00, 900Mt priced in USD / PMT
Sell 12jul14 20 lots AA @ 501.00 , P/D = 0
BuyBack 20jul14 2 lots @ 505.00, P/D = +19.5
The calculation is
2 x 19.5 = 39.0 $
Weighted P/D = 39.00 / 18 = 2.166667 i.e. rounded automatically to 6 decimal places
‘Ave Price’ Style
The entered P/D will be included in the Average price formula.
E.g. P00103 is for 210 lots, the 210 lots are priced at 400 pmt.
The final delivery is an underfill whereby the trade is only 200 lots. The 10 lots are bought back at 370 Pmt with a P/d of 35 Pmt and the total no. of lots updated to 200.
Average price is therefore ((400 X 210)) + (-10 X (370+35)/200
= (84,000 – 4,050)/200
=399.75
Processing/Mixing
This feature handles the administration of processing ingredients/tonnages and their packing and ancillary costs to create a new contract/product. The out-turn product code must have a B.O.M setup in the PHYSCODES/Commodity record, this B.O.M. is used as a guide/warning to the user. The out-turn weight and number of units are entered and the in-turn list of contracts can be any number of unallocated purchases. A complete audit is maintained to allow for ‘deletion’ of a Process/Mix contract and to view and trace the origin of the contract. When utilising stocks of packing, pallets etc the relevant controls are applied with regard to availability of units. There is no weight consideration for pack/storage/milling units. A milling/processing contractual commitment (Purchase contract) e.g. 100 Mt @ USD 100 per ton with ancillary costs etc can be maintained by TRADE for inclusion in the Mix/Processing. The commodity needs to be setup with the special type code Milling in PHYSCODES. When using TRADE/Mix to create manufactured goods, include the Milling contract and it’s usage in the in-turn grid. The milling price will be included in the out-turn value and the Milling contract extra costs will also be transferred (pro-rata) to the out-turn contract.
Process & Mixing Reports
The report can be requested for any range of dates, the content is the audit of what Process and Mixing tasks have been completed in the selected period. There are summary totals for each Process Type e.g. REPACK, BLENDING. Hivedome can setup the overnight processes to produce a weekly OPRINT automatically.
Expedite
Expediting will be used in merchanting operations. It is the process of creating call-offs (fixings) to satisfy deliveries to an end user. Call-offs may also be created on purchase contracts to record intakes at the weighbridge. Contracts and part contracts are available if they are unallocated and not marked as existing call-offs. Existing call-offs will have the status of 'C' for called-off or 'D' for delivered. Once the call-off is created it can be amended and is available for delivery and invoicing. The open quantity on the contract is reduced by the amount of the call-off. The call-off will show a product, quantity, date, receiver or delivery client, transport information (e.g. haulage rate, vehicle registration) and a unique system generated reference number.
To create a call-off the 'Expedite' option should be selected from the buttons or by clicking the mouse. A standard general selection screen is presented and all open, unallocated contracts yet to be called off and that match the selections will be retrieved from the database. From the summary screen the contract from which the call -off is to be taken can be selected by highlighting the appropriate contract and entering OK or by double clicking the required contract. Having chosen a single contract the quantity, product and transport details should be entered for the new call-off. Once created the call-off can be amended by accessing it from the TRADE contract prompt.
Toll
The tolling process is designed to handle any number of purchase tonnages being consolidated into a single purchase TRADE (marked as warehoused). A use of this procedure is where many small purchases have been collected and for the purpose of shipment etc they are required to be handled as a single purchase. The out-turn warehoused contract replaces the in-turn contracts as regards Position Keeping i.e. the original purchase is allocated to the new tolled purchase. Subsequently processing, sales etc will refer to the new out-turn contract. The TRADE/trace feature will show all the assigned purchases to the out-turn.
To create an out-turn contract the 'Toll' option should be selected from the buttons or by mouse right-click choice. A generalised selection screen is presented and all open, unallocated, uninvoiced purchases that match the selections will be retrieved from the database. When the out-turn details have been entered it is possible to select all or part of the displayed in-turn contracts to satisfy the out-turn quantity. The out-turn seller, warehouse, price code, currency and commodity are also entered. The price of the out-turn contract is determined by the prices of the in-turn contracts so no loss in value occurs. The in-turn contracts are split to accommodate the tolling and the quantity that is used becomes allocated to the out-turn purchase hence it is removed from the position. An automatic system generated number is assigned to the out-turn purchase, see DOCENT/Next references to be used. The out-turn number can either be setup by Hivedome/SSU as being in a special number range or can be the next standard purchase number. The details of the toll procedure may be printed.
Group Traffic
Traffic details relate to shipping, warehousing and other logistics data. A single contract or contract split can be updated independently through the life of the contract as the goods are moved. To enable a mass update of like contracts the Group Traffic option is provided. This may be required where several contracts are on a single vessel which has docked so landing details need to be amended for ALLl the selected contracts AND any allocated nTRADE records.
To update Group Traffic the 'Group Traffic' option should be selected from the task bar or by mouse right-click selction. Standard filtering is applied and all open contracts that match the selections will be retrieved from the database and displayed on a grid. Any number of contracts may be chosen from the grid for amendment. The Traffic screen will enabe shipping, warehousing and call-off details to be amended.
ALL the selected contracts will be updated with the details that are viewed on the screens i.e. all the reords will have the SAME logistics data after the SAVE in this process. If contracts, that are allocated, are amended the allocation partner may be amended with the same data; there are some exceptions e.g. Sale TRADE Destination
Group Traffic Weights
To update the weights of a group of contracts use the 'Group Weights' option from the task bar or by mouse right-click.
Apply selection filters and all open contracts that match the selections will be retrieved from the database and displayed on a grid. Any number of contracts may be chosen from the grid for amendment, if they are all either Purchases or Sales.
The contracts are then shown in a grid where the user applies the weight adjustment in total and proceeds to OK for the revised weights to be shown in the grid, ready for further amendment. There are several controls applied to ensure that tonnages already Sales Invoiced are kept consistent with the TRADE/Traffic/weights criteria for amending allocated weights. The options for adjusting the contracts and their allocations are also consistent with TRADe/Trafic/weights criteria i.e. weight-loss, write-offs etc
Group Vessel Insurance Declarations
This feature complements the standard TRADE single contract Ins Declaration process. Standard filtering will produce a grid of available contracts from which the user selects those to be used by the forms (DOCDES) creation and subsequently their database records will be marked with the applicable date and accounting records are created. The processing for Group Declarations is the same as for the individual tonnages. Vessel Insurance Declarations are usually actioned once, but the individual mode would allow a reissue (with a warning).
Group Warehouse Insurance Declarations
This feature complements the standard TRADE single contract Ins Declaration process. Filtering will produce a grid of available contracts from which the user selects those to be used by the forms (DOCDES) creation and the production of the relevant accounting records. The processing for Group Declarations is the same as for the individual tonnages.
Group Offers/Contract Advices
This feature complements the standard TRADE single contract create Contract Advice process. Standard filtering will produce a grid of available contracts (.000 and Open status only) from which the user selects those to be used by the forms creation process (DOCDES). There is a selection to either produce individual notes or to consolidate all the selected items onto 1 advice whereby the template used must be designed correctly i.e. they will need the repeat commands <RPTphys01>, <ENDRPTphys01>.
Group Forms
This feature complements the standard TRADE single contract create Forms process. Standard filtering will produce a grid of available contracts (non-zero tonnage and Open status only) from which the user selects those to be used by the forms creation process (DOCDES). There is a selection to either produce individual forms or to consolidate all the selected items onto 1 note whereby the template used must be designed correctly i.e. they will need the repeat commands <RPTphys01>, <ENDRPTphys01>.
Group Allocation/De-allocation
The allocate process will allow the selection of many sales tonnages and 1 purchase OR many purchases and 1 . Other processes such update of traffic details and the assignment of a common Group number are handled.
The de-allocate process allows selection of several allocations to be broken.
Process Audit Report
The report can be requested for any range of dates, the content is the audit of what PROCESS tasks have been completed in the selected period. This report style is different to the Mix/Process Report and is more oriented to the Production performance.
Group Contract
When the relevant S01 setting has been activated, the process to allow grid update of selected data fields is enabled. The user applies standard filtering to select which TRADE records are to be updated and then picks which fields from TRADE (fixed list) are to be shown on the grid. See local help? on update grid for explanation of specific edit features.
Group Pre-allocate
When the relevant SSU setting has been activated, the process to allow mass TRADE pre-allocation is enabled.
Trade Individual processes:
Process
This feature is designed to administrate unallocated purchase tonnage being factory processed (roasted, washed, rebagged etc) whereby weight loss/gain is recorded, process costs can be added and the out-turn can be any number of different products. The TRADE tonnage is recalled and right-click mouse (or short-cut Ctrl R) will allow selection of this feature. Use the field ? help . Weight loss and gain are handled, with weight loss recording in detail. This results in the origin purchase contract being split. The new sub-records will/can be coded/priced differently. The out-turn records are marked to indicate that they are the product of Processing. Processing handles process-to-order (i.e. out-turn is the same purchase contract) or process-to-stock, where the out-turn is added to an existing Spot Purchase contract. There are several Hivedome activated (SSU) features that allow for weight-loss value to be handled through accounting.
Refine
This feature is designed to link the Raw tonnage to the factory results of a refine/process. The results from the factory are entered as a new purchase TRADE (i.e. the refined product) and this feature is activated to operate in reverse by attaching the origin goods to this result. Any number of RAW contracts are assigned and eventually allocated to the new contract. Yield and other questions are provided to get a necessary links and thereby correction to Open position reports.
Analysis
This feature complements the LABIN/REDBOOK subsystem whereby Q.A. results can be entered for any tonnage and the record will remain in perpetuity for further enquiry/reporting.