Managing Commodity Sales Contracts in Levridge

by | Updated August 1, 2020 | Agriculture

Each commodity sales contract is comprised of varying levels of information related to the contract type, customer account, commodity type and more. Frequently, ag retailers are relying on large spreadsheets to track and manage this information and struggle to quickly access complete customer information and generate invoices. Using Levridge, built on top of Dynamics 365, ag retailers can easily track all important data in one system, and generate sales contracts more efficiently than ever before.

Creating Commodity Sales Contracts

When setting up sales contracts, you can define where the items will ship from, the contract type, customer account information, commodity type, units, contract quantity, load base options, number of loads, delivery period, ticker information, board price, basis, and net price.

create sales contract

Once a contract is set up, the information attaches to the customer account so any user within your system has access to all sales contracts for each specific customer.

Trader and Broker Details

Additional information can also be added once the contract is set up, including the quality grade of the commodity and trader and broker details. Custom broker information, including specific commission rates are attached per contract and overall payouts are automatically calculated within the system for any combination of sales contracts tied to each broker.

Managing commodity sales contracts in levridge

Discounts and Fees

Many users of the system find the most beneficial part of managing sales contracts within Levridge is the ability to automatically calculate any discounts or fees for each contract based on each account’s negotiated rates, special delivery terms, or other factors.

This information can automatically populate on each sales contract based on negotiated terms stored within the account’s record, or can be customized based on a specific contract.

Freight Adjustments

Freight adjustments can be included in the pricing calculation. For example, if you have a contract you want to bring to market at a central location, you could put in a freight adjustment from the location the contract was issued from back to that central location. This setting allows you to automatically adjust the final contract for all commodities under that account without any manual calculation on your part.

You can also track the freight included in the basis, which allows you to track your full freight cost per sales contract. That information can automatically be coded to a separate account so you have a clear view of your complete freight cost information.

freight adjustments

Hedge Commodity

The item numbers, names, hedge factor, and units can be tracked in the sales contract for a more accurate long and short positioning report if your commodity isn’t board traded but still needs to be hedged.

hedge commodity

Delivery Periods

Multiple delivery periods can be set for each contract. When contract quantities are specified for each delivery period, the system automatically calculates the quantity remaining to apply to subsequent deliveries.

delivery periods

Levridge is a complete solution for agriculture businesses who want to gain better visibility into their business, make better decisions, and ditch spreadsheets and manual processes for good. To learn more, reach out to the Levridge team today.

 

Related Posts

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Upcoming Events

september

01sep10:00 am10:30 amEnsuring Quality and Compliance for Batch Manufacturers in Life Sciences

01sep12:00 pm12:30 pmIs it Worth It to Move to the Cloud? A Look at Considerations for Current Agribusinesses Using Dynamics GP

01sep2:00 pm2:45 pmWhat’s New in Dynamics 365 Finance and Supply Chain

09sep11:00 am12:00 pmConfab Live with Stoneridge – Data Strategy and Reporting – Mining Decision Making Insights

15sep10:00 am11:00 amSolving the Biggest Challenges in Agribusiness Through Innovation and Technology

22sep12:00 am12:30 pmSimplifying Payroll and HR Management with ADP Workforce Now

22sep10:00 am10:30 amStreamlining Batch Manufacturing with Technology

22sep2:00 pm2:30 pmProcess Automation for Microsoft Dynamics D365 for Business Central, Finance and Operations and GP

23sep11:00 am12:00 pmConfab LIVE with Stoneridge - Riding the Wave 2 Release – Key Features Coming to Dynamics 365 this October

27sep(sep 27)9:00 am15oct(oct 15)11:00 amDynamics 365 Finance & Supply Chain Development Training - Online Workshop

29sep10:00 am11:00 amTop Five Reasons Why NOW is the Right Time to Move from Salesforce to Dynamics 365 Customer Engagement

29sep12:00 pm12:45 pmUnderstanding Job Costing and Tax Management in Business Central

29sep2:00 pm3:00 pmDigitalizing Horticulture & Agriculture - How to Sell Plants Online and Simplify Business Management

30sep12:00 pm4:00 pmSecurity and Permissions Training for D365 Business Central or Dynamics NAV

october

27sep(sep 27)9:00 am15oct(oct 15)11:00 amDynamics 365 Finance & Supply Chain Development Training - Online Workshop

06oct10:00 am10:30 amPreview of D365 Business Central Fall Release Features and Functionality

06oct12:00 pm12:30 pmInsider's Guide to New Features Available in the Fall Release of D365 Finance and Supply Chain

07oct11:00 am12:00 pmConfab LIVE with Stoneridge - Dataverse and Dynamics in Review – Let’s Get Technical

21oct11:00 am12:00 pmConfab LIVE with Stoneridge - Dataverse and Dynamics in Review – Let’s Get Functional

26oct(oct 26)9:00 am28(oct 28)5:00 pmStoneridge Connect Leadership and Community Conference

About Stoneridge
Stoneridge Software is a unique Microsoft Gold Partner, with emphasis on partner. With specialties in Microsoft Dynamics 365, Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP and Microsoft Dynamics CRM, we focus on attracting the most knowledgeable experts in the field to our team, and prioritize delivering stellar solutions with maximum impact for your business. At Stoneridge, we are deeply committed to your results. Each engagement is met with a dedicated team, ready to provide thorough, tailored, and expert service. Based in Minnesota, we intentionally “step into your shoes,” wherever you are. We focus on what you care about, and develop trusting, long-term relationships with our clients.

Subscribe To Our Blog

Sign up to get periodic updates on the latest posts.

Thank you for subscribing!

X