Produce Trades Setup

These settings control exchange rates, currency rules, and default document titles for produce trade transactions.

Trade Exch. Rate Date Basis

Controls which date the system uses to look up the exchange rate when posting a produce trade in a foreign currency. Options:

Posting Date — uses the trade’s exact posting date
Estimated Departure Week — uses the Monday of the week in which the freighter trip leg’s estimated departure date falls
Actual Departure Week — uses the Monday of the week in which the freighter trip leg’s actual departure date falls
Estimated Arrival Week — uses the Monday of the week in which the freighter trip leg’s estimated arrival date falls
Actual Arrival Week — uses the Monday of the week in which the freighter trip leg’s actual arrival date falls
Container Load Date — uses the exact container load date

For the week-based options, the system always normalises to Monday of the relevant week and looks up the exchange rate for that Monday. The posting date and container load date options use the exact date.

Limit Trade Exchange Rate Usage

Controls whether the trade’s exchange rate date is also used for standard rate calculations on produce bills.

OFF (default): When calculating standard rates in foreign currency on a produce bill, the system uses the same exchange rate date as the produce trade (as determined by the Trade Exch. Rate Date Basis setting above). This means the same exchange rate basis applies to both the trade and its related standard rates on the bill.
ON: Standard rates in foreign currency on the produce bill are converted to local currency using the bill’s posting date, regardless of the trade’s exchange rate date. The trade exchange rate date is not used for standard rate calculations.

Defer Sales

Controls when sales revenue from produce trades is recognised in the general ledger, and how it relates to the cost of sales on the final cost produce bill.

ON — sales deferral active (recommended): When a produce trade’s sales invoices and credit memos are posted, the sales amounts are posted to an interim sales account (as defined in the Produce Posting Setup under “Sales Account (Interim)”) rather than to the final sales income account. When the final cost produce bill is subsequently posted, the system automatically reverses the interim sales entry and posts the full sales amount to the main sales account — at the same time as posting the related cost of sales (pallet charges and produce cost). This ensures that sales revenue and its related cost of sales always land in the same accounting period.

Example:

A container ships in February and the customer is invoiced via produce trades in February. However, payment to the vendor is only due in April. The cost produce bill is prepared and posted in April. With sales deferral active, the February trade invoices post to the interim sales account — making it easy to identify sales not yet matched to a full cost of sales at February month-end. In April, when the cost bill is posted, the interim sales are reversed and the full sales amount moves to the main sales account alongside the cost of sales.

Note

Even if a business wants to recognise sales immediately in the income statement, the deferral mechanism is still recommended. The “Sales Account (Interim)” in Produce Posting Setup can be pointed to any income statement account — giving the business full control over where sales are posted while still benefiting from the automatic matching of sales and cost of sales at bill posting time.

OFF — no deferral: Sales invoices and credit memos from produce trades post directly to the main sales account. The cost produce bill does not perform any reversal of interim sales. In this mode it is likely that sales and related cost of sales will land in different accounting periods, making period-end figures harder to interpret.

Limit Purchase Currencies

Controls whether the intended purchase currency on pallet lines is restricted to the default currency of the vendor.

OFF (default): No global currency restriction is applied. Per-vendor control is still available — individual vendors can have a “Limit Purchase Currency” toggle on their vendor card, which enforces the same restriction for that specific vendor only.
ON: A global restriction is applied across all vendors. The intended purchase currency on any pallet line must match the default currency of the related vendor. If it does not match, the system rejects the entry with an error. This overrides the need for per-vendor configuration.

Limit Sales Currencies

Controls whether the intended sales currency on pallet lines must match the default currency of the customer the pallets are allocated to.

OFF (default): No restriction is applied. Pallets can be allocated to a customer in any currency.
ON: When pallets are allocated to a customer, the intended sales currency must match the default currency on that customer’s card. Use this if your business sells to each customer in one fixed currency only — for example, if customer X is always invoiced in USD and never in EUR.

Synchronise Trade Currencies

OFF (default): The intended purchase currency and intended sales currency on a pallet can differ. No restriction is applied.
ON: The intended purchase currency and intended sales currency on each pallet must match. If they differ, the system shows an error.

Not recommended for most businesses. If produce bills are generated and grouped by vendor and intended purchase currency early in the season — for example, advance bills or early invoice bills in USD or local currency — and the pallets are later allocated to a customer in a different currency (e.g. EUR), the system will block the allocation with an error because the sales currency no longer matches the purchase currency already used on the bill. This can create significant workflow problems.

Enable Intercompany Produce Trades

OFF (default): Produce trades are treated as standard vendor/customer transactions. No intercompany documents are generated in partner companies.
ON: Enables intercompany produce trade processing for transactions where pallets are sold via a company affiliate. When a produce trade invoice or credit memo is posted in the source company, the system automatically creates both a purchase document and a linked sales document in the intercompany partner company. The vendor on the purchase document in the partner company is the source company (as the intercompany partner). The customer on the sales document in the partner company is derived from the Intercompany Partner setup. The source company typically retains a margin, configured as an invoice discount on the intercompany bill-to-customer in the partner company’s setup.

Default Proforma Invoice Title

The global default title printed on proforma invoice documents. This value is used as a fallback — it can be overridden per customer on the customer card, and overridden further still in Produce Trade Defaults (which allows titles to be set per customer and commodity group combination). The most specific value found always takes precedence over the global default.

Default Commercial Invoice Title

The global default title printed on commercial invoice documents. This is a global-only setting — there is no per-customer override for the commercial invoice title.

Default Trade Invoice Title

The global default title printed on produce trade invoice documents. As with the proforma invoice title, this value can be overridden per customer on the customer card, or more specifically in Produce Trade Defaults per customer and commodity group. The most specific value found always takes precedence.

Default Trade Credit Memo Title

The global default title printed on produce trade credit memo documents. Can be overridden per customer on the customer card, or more specifically in Produce Trade Defaults per customer and commodity group. The most specific value found always takes precedence.