Equity in the agriculture industry or in a cooperative refers to the value of the assets owned by the organization or its members after all the liabilities or debts are subtracted. Patronage refers to the practice of returning profits or benefits to the members of a cooperative or mutual organization, such as a farmers’ cooperative, in proportion to their use of the organization’s services or products.
News & Notes
Levridge Lingo #1 – What is a Co-op?
A cooperative, or “co-op,” is a type of organization that is owned and controlled by its members, who are typically farmers, ranchers, or other agricultural producers. In the agriculture industry, co-ops are often formed to provide collective marketing, purchasing, or other services to their members.
How to Troubleshoot If Your Outbound Ticket Is Not Displayed in the Levridge Outbound Ticket Application
If you cannot find your outbound ticket in the outbound ticket application in Levridge (Navigation: Commodity accounting > Outbound > Delivery > Outbound ticket application), here are the steps you should follow to troubleshoot.
How to Resolve Error Message “Grower xxx is Currently Being Settled by User yyy” When Creating a Settlement Request in Levridge
When creating a settlement request in Levridge, if you receive the error message “Grower xxx is currently being settled by user yyy”, and that user is not currently creating a settlement for that grower, you will have to go into the settlement wizard and cancel it out so it will clear the record lock. You’ll be unable to create a settlement for that grower until this error message is resolved, but luckily this is simple to fix by following the steps below.
The Difference Between “Grain Shipped Not Invoiced” and “Shipped Not Invoiced Bulk” in Levridge
Grain shipped not invoiced is used when a company gets an invoice and settlement sheet from the buyer of the grain. The company is trying to match the customer invoice/settlement sheet to the company’s scale tickets. Shipped not invoiced bulk is used when the selling company is originating the invoice/settlement sheet and the customer has to match them.
Commodity Long and Short Position: Delivery vs Hedge
Levridge has designed and developed two versions of the Commodity Long and Short report. A Delivery position where the position month is based on the delivery period that is on the contract line.
Managing Commodity Sales Contracts in Levridge
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.
Managing Grower Offers and Inbound Commodities with Levridge
Managing your grower offers within Levridge is a simple task that gives you insights into each offer, provides pricing updates, and allows you to easily complete payments to growers.