Contracts & Settlement
A Settlement in Conservis is how you double check your Delivery Receipts against your contracts. The Settlement Process can be highly useful in ensuring that the elevator paid you for all that was owed. Many customers pay for their Conservis subscription (and then some) simply by finding lost loads through this process.
Creating a Contract
Select HARVEST > CONTRACTS & SETTLEMENT > Contracts.
Click New Contract.
Fill out the Customer (who’s paying for the grain) and Commodity.
Under Delivery Location, click the blue Add Delivery Location to add.
Tip: Add all delivery locations that you might deliver grain to for this contract, not just the main locations. You won’t be able to settle a load against this contract unless the Delivery Location on the load matches this list.
For Ownership Entity, choose whose grain is being contracted.
Fill out the Contract #. (If you leave this field blank, Conservis will auto-generate a contract number).
Fill in the total number of bushels (or pounds/bales, if applicable) under Total Amount.
You must fill out at least one of the money fields, either Premium, Cash Price, Futures Price, or Basis. These can be edited later.
Tip: Entering the Basis and Futures Prices will automatically calculate a suggested Cash Price.
Fill in Date and Crop Year
Click + Add Delivery Month and select an estimated month for delivery, the amount of grain expected to be delivered that month. The default setting is to have the payment month be the same as the delivery month, but you can uncheck this setting and enter a different payment month.
Continue adding delivery months until the whole contract has estimated delivery and payment months.
You have the ability to add a scan or screenshot of the contract under Attachments. Contract Attachments can be in the following file formats: Excel files, pdf, csv, jpeg, and png files.
Click Create.
Adding Delivery Receipts
When you have delivered on your contract, add that delivery receipt into Conservis by going to HARVEST > CONTRACTS & SETTLEMENT > Delivery Receipts
Select New Delivery Receipt
Crop Year, Ticket number, date, and time will auto populate unless you choose to manually change them.
Select the transport equipment, the delivery location, the customer receiving the delivery, and the commodity they received.
Add weight - you can enter weight one of two ways. Enter the gross weight and Tare weight or enter a Net Weight. Do not enter all three fields.
Search existing tickets to link your activity ticket to this delivery.
Optional: Attach a copy of the printed delivery receipt to this record.
Click Create.
Create a Settlement: (Harvest > Grain Settlement > Settlement)
After you’ve entered your Contract and Delivery Receipts, and you’ve received the check from the elevator with their settlement sheet, you can fill out a settlement in Conservis:
Hit HARVEST > CONTRACTS & SETTLEMENT > Settlement.
Select New Settlement Ticket.
Enter the top section -including Date/Time, Customer, Commodity, Check # and amount.
Check the Settle within Crop Type box if you need to settle multiple crops against the same Contract (for instance, both SC and DC Soybeans, or Irrigated with Non-Irrigated Corn).
Optional: If an adjustment was made, select Add Adjustment and fill in that amount and Settlement Adjustment.
Click Add Contract.
A popup appears. Choose the desired contract from the dropdown.
Click the checkbox next to all Delivery Receipts listed on your settlement sheet.
Tip: If you already added this contract to Field to Customer tickets or Storage to Customer tickets, they will automatically be selected. However, they will not have been applied against the contract until you save the settlement.
Tip: You can choose to settle less than the entire load by typing an amount into the “DR Amt” field. Note that if the load’s ownership is split between multiple entities, this will not settle one owner’s grain over another. Call your Customer Success Manager for strategies on how to manage ownership with Settlements.
Click Apply on the popup screen.
Click Create.