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Overview
Commodity Tickets are used to record the purchasing of commodity items from farmers. This transaction does not use inventory items or integrate with NorthScope’s Inventory module.
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Changes can be made to a transaction until it is finalized. To finalize a transaction, the user will need to change the status to “Ready to Post”. In some companies, posting is a two-step process where the transaction(s) are approved by one person, and posted by another.
Approving the transaction
This step is optional and is used for companies that require a two-step process where the person who approves the transaction cannot be the same person that posts the transaction.
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Once the status has been successfully updated to “Approved”, all editable fields, with the exception of Status, will be disabled.
Finalizing the transaction
When the transaction is ready to be finalized, open it and change the status to “Ready to Post” and save the transaction. Setting the transaction to “Ready to Post” does the following:
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Commodity Ticket Items Distributions
Positive Items
| Debit | Purchase Account Assigned to the Commodity Ticket's Crop |
|---|---|
| Credit | Vendor's Accounts Payable Account |
Negative Items
| Debit | Vendor's Accounts Payable Account |
|---|---|
| Credit | Purchase Account Assigned to the Commodity Ticket's Crop |
Commodity Ticket Charges Distributions
Positive Charges
| Debit | Vendor's Accounts Payable Account |
|---|---|
| Credit | Credit Account Assigned to the Charge |
Negative Charges
| Debit | Credit Account Assigned to the Charge |
|---|---|
| Credit | Vendor's Accounts Payable Account |
Commodity Ticket Accruals Distributions
Positive Accruals
| Debit | Expense Account Assigned to the Accrual |
|---|---|
| Credit | Accrual Account Assigned to the Accrual |
Negative Accruals
| Debit | Accrual Account Assigned to the Accrual |
|---|---|
| Credit | Expense Account Assigned to the Accrual |
Once the user is satisfied that all distributions are correct, the user can post the batch(es) in the host system.
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