Levridge 2024 Release 3.0 Now Available!
| Updated: Jan 7, 2025 | Accounting , Ag sales , Agronomy , Grain , News , Product Updates , Release Notes | read
readFinishing the year strong! Our latest release includes features and enhancements to further streamline processes, deepen integrations, improve contracts, provide advanced settlement features, enhance reporting, and make improvements in commodity trading.
Release 3.0: December 2024
| Commodity Accounting | Feature | Release Notes |
|---|---|---|
| Add Purchase Contract to the Generate Settlement Request and Settlement Wizard Functionality | On the Generate settlement request periodic task (Commodity accounting > Periodic task > Generate settlement requests) an option to filter by purchase contract has been added. The purchase contract filter has also been added to the Settlement request wizard on the scale ticket selection page. This will filter the scale tickets displayed to only those applied to the selected contract. Blog: https://www.levridge.com/add-purchase-contract-to-the-generate-settlement-request-and-settlement-wizard-functionality/ YouTube: https://youtu.be/xMaZo8aFEL8 | |
| Bushel Integration – Purchase Contracts, Settlements, and Commodity Balances | Purchase contracts, Settlements, and customer Commodity balances are available to be sent to Bushel from Commodity accounting. Purchase contracts will sync the contracts and any updates to the contracts and delivery periods. Settlements will sync the settlement and update the status as it is confirmed and paid. The Commodity balances will summarize the growers tickets based on contract application such as On-hold (if not applied to a contract), Priced, Basis, Futures, and Deferred (if on a deferred settlement). | |
| Commodity Load Orders | Opening the commodity load orders, which work for outbound processing today, to work for inbound, transfers, and back-to-back deliveries. | |
| Commodity Options Trading Enhancements | Enhancements to the trade entry for options for the posting, expiration, reverse and voiding. | |
| Contract Wash | As normal practice in cross-country trading or back-to-back business, traders will buy a commodity from a customer, and later, sell that same commodity to the same customer. In cases where the trader has a buy and a sell position with the same customer, instead of shipping against those contracts, they agree to “Wash” the buy and the sell contracts. In other words, they cancel their buy contract and cancel the sell contract. Often, however, the contract price on those 2 contracts is different, there might be money owed to the customer or vice versa. Blog: https://www.levridge.com/contract-wash-in-levridge-commodity-accounting/ YouTube: https://youtu.be/isDx2mXAW_U | |
| Intercompany/Intracompany Contracting | Enabling creation of sales and purchase contracts within the same company (intracompany) or across companies (intercompany). If a customer account now has the option to enable for commodity intracompany or intercompany. If intracompany is enabled on a customer account and a user creates a sales contract (or purchase contract) for this customer, they will have the option to select the intracompany customer to create the corresponding contract (sales or purchase). If intracompany is enabled on the customer account and the user creates a sales or purchase contract, they will have the option to select the intercompany customer that the corresponding contract will be created for another legal entity. There are options available in Commodity parameters (Commodity accounting > Setup > Commodity accounting parameters > Commodities > Contracts): Auto create contracts for intercompany and/or intracompany. If this is enabled when the contract is saved the corresponding contract will be created through a business event. The other set of options if to synchronize attachments for intercompany and/or intracompany. If this is enabled, when you attach documents, files, etc to a contract, the same attachments will be available on the corresponding contract. Blog: https://www.levridge.com/streamlining-intercompany-and-intracompany-contracting-with-levridge/ YouTube: https://youtu.be/p5zyJwlDCKM | |
| Mark to Market Adjustments | Added 10 user-defined adjustment fields that clients can enter in what they want to call the adjustments in Commodity parameters. Once a label has been defined in parameters, the adjustment will display on the sales and purchase contracts. During mark to market calculation, any adjustments entered on the contract will be subtracted from the basis to calculate the basis gain/loss. This is following the same pattern as the two existing mark to market fields on contracts ‘Mark to market adjustment’ and ‘Freight included in basis’. Blog: https://www.levridge.com/enhancing-sales-and-purchase-commodity-contracts-with-mark-to-market-adjustments/ YouTube: https://youtu.be/X-VRpEkpRyo | |
| Reporting Group for DPR and Long/Short | New option to create a reporting group to use on long/short position reports and DPR which allows you to setup various groups of branches, so you do not need to select the branches each time you print the report. You can have many reporting groups (Commodity accounting > Setup > Risk management > Reporting group) and select one or more branches to be included in that group. Branches can be applied to many or none, depending on your needs. When you print the reports and select a report group, the branches selected for that reporting group will be included to print on the report. Blog: https://www.levridge.com/reporting-groups-for-dpr-and-long-short/ YouTube: https://youtu.be/CxFj8EywbF8 | |
| Spot Tickets – Immediate Pricing | The spot price for spot immediate can be imported in and out through AgXML. | |
| Transfer Ticket – Discount Schedule to Post Shrink | Providing the ability to define default discount schedules specifically for transfer tickets. Then default and/or select a discount schedule on a transfer origin/destination ticket that will be used to calculate shrink and post to inventory. | |
| Update Settlement Amount when Adjustments are made on the Settlement | On the settlement payment form (Commodity accounting > Inbound > Settlement > Settlement payment), if you adjust the discounts and fees for the selected tickets, the payment amount to the primary customer will be updated automatically. It will not adjust for any split payments defined on the form. Blog: https://www.levridge.com/update-settlement-amount-when-adjustments-are-made-on-the-settlement/ YouTube: https://youtu.be/xNnDV2cEwD8 | |
| Ag Sales | Feature | Release Notes |
| Agronomy/AgWorks Integration – Credit Notes and Returns | Second phase of the Levridge integration to AgWorks. Focusing on credit notes and returns. | |
| Multiple Sales Agreements on One Sales Order | In FinOps a sales order can be linked to only one sales agreement for the entire order. If a customer had multiple sales agreements the user would need to create multiple sales orders to link to each sales agreement. Levridge has enhanced the sales order to allow each line to be linked to different sales agreements. If there is a split on the order line, each split customer can have a default sales agreement that will be used, and then when the order is post packed or invoiced (whichever is done first), on the Split order dialog they will be able to select and adjust each order line per customer and assign different sales agreements if needed. There are also options in Ag sales parameters to automatically assign the sales agreement, prompt if the system finds a sales agreement, or not auto assign. Another option to prompt the user to split the order line if the sales agreement selected does not have enough quantity available to cover the ordered quantity. |
For a PDF view of the full release notes and bug fixes, click here.