Commodity meter tickets are documents that record the quantity and quality of a commodity that is transferred from one party to another. They are commonly used in the oil and gas industry, where they serve as evidence of ownership and delivery of crude oil, natural gas, or refined products.
The warning message “Illegal specification of retail channel relation. Specify a valid retail channel relation, and try again.” may appear when setting up automatic hedge charges in Microsoft Dynamics 365 Finance and Operations with Levridge. This is caused by having advanced charge retail features enabled in D365 that you are likely not using.
Microsoft Dynamics 365 for Finance and Operations uses dimensions to track financials to sites/branches. When posting ledger journal entries like those generated by trade gains or losses, there needs to be a site selected so the financial dimension can be set.
The Delivered not settled form in Levridge lists inbound tickets applied to contracts that are not part of a confirmed settlement as of certain dates. There are 3 dates on the Delivered not settled form in Commodity accounting under Inquiries and reports > Inbound > Delivered not settled. Understanding what those dates are used for will help when using this form.
Here’s how the “fill at market” process works for sales and purchase contracts in different scenarios: If the net price is more than the sales contract, it will result in a purchase order. If the net price is more than the purchase contract, it will result in a sales order using the fill item on the released item. If the net price is more than the purchase contract, it will result in a sales order using the fill item on the released item.
When setting up Levridge Commodity Accounting, one requirement is to set the General Ledger number sequences for Trace numbers and Transaction reversal to Continuous = Yes
To get the full functionality of this date effectivity, each user should have the time zone set properly so the data is reflected according to their time zone.
There are several posting accounts needed for commodity accounting when processing inbound and outbound tickets and settlements. This blog outlines each place posting accounts are needed and when they will be used.
Business Events are a way Dynamics 365 Finance and Operations (D365) can communicate with external systems. Levridge created our own business events in D365 to create XML files following the AgXML framework.
Purchase advances can be created in Levridge using the following steps. Under the Commodity accounting module create a purchase contract and apply scale tickets to the contract.