A Settlement Prepayment is a lump-sum producer payment not linked to a settlement, for grain which may or may not be received.

An Advance Payment is a separate fixed-percentage settlement (based on current market value) against a grain receipt linked to an unpriced contract .

What you'll find:

Settlement Prepayments and Grain Advances are usually made individually at the time of the transaction but can be batched and the cheques printed from the menu (the Grain > Print Cheques process is very similar to batch printing supplier payment cheques). Because Settlement Prepayments and Advances are not linked to settlements, and therefore not governed by CGC, they do not require a hard copy/paper cheque and could be paid also by EFT, etc.

Settlement Prepayments and Advance Payments can be Edited but not all fields can be updated.
Payments included in Bank Reconciliations (pending or completed) have further editing restrictions.

Payments can also be Cancelled or Deleted. The difference is that a cancelled payment remains visible on the producer's account and therefore shows a payment was made at one point then was cancelled. A deleted payment is removed from the producer's account and looks like it never happened.

Payments can be in home or foreign currency, depending on the Grain Payables account of the Producer and the Payment Type selected.

Related Topics

I want to read the white paper (with lots of screenshots) on Multicurrency.

I'm looking for Grain Payments.

Settlement Prepayments

Settlement Prepayments can made from:

(menu) Grain Payments window (Grain > Grain Payments)

Grain Producer Centre (Grain > Grain Producer Centre > )

Paying Settlement Prepayments

Settlement Prepayments are subject to the same rules as Payments, except they may or may not be linked to receipts, are not tied to  settlements.

To make settlement prepayment
* indicates a required field

Navigate to the Grain Producer Centre.

Select Settlement Prepayment. 
The Add Grain Payment window opens.

Fill in the data fields as you would when adding a grain payment.

Add the Prepayment Amount*.

Click Save.

Advance Payments (used by AgriCorp)

Advances can be made from:

(menu) Grain Advances window (Grain > Grain Advances)

Grain Producer Centre (Grain > Grain Producer Centre / Add New Item / Advances)

I want to read the white paper about Grain Advances (with lots of screenshots).

 

Paying Advances (AgriCorp)

AgriCorp Advances are subject to the same rules as Payments, except they are linked to receipts against unpriced contracts.

Advances may have different fields available for editing.

I want to read the white paper (with lots of screenshots) about setting up and paying Grain Advances.

To pay an advance
* indicates a required field

Navigate to the Grain Producer Centre
or via the menu: Grain > Grain Advances.

Selelct Advance.
The Add Grain Advance window opens.

Fill in the header fields as you would when adding a grain payment.

Navigate to the Receipts tab. 
Select Import Receipts.
The Import Grain Receipts window opens

Change the Default Quantity if needed.

(Config C) Confirm the Advance %* (must be between 0% and 100%).

If you're not seeing the receipts you need, change the Grain Receipts Filter fields, then select Refresh List (or press F5).

Check Import next to the receipts to advance, and optionally change the Import Qty.

Click Use Selected Rows.

Select Edit Row.
The Edit Grain Advance Detail window opens.

Add a Futures price (because the receipt is linked to an unpriced contract and is based on current market values).

Modify the Discount Schedule and Levies if needed.

Select Update.
The Edit Grain Advance Detail window closes.

Select Save.
The Add Grain Advance window closes.

Settling Receipts with Advances

Once an Advanced receipt has been imported to a settlement, the row can be edited by using the Edit Row button.

The Edit Settlement Detail form has some key differences on an Advanced receipt:

Additional calculation columns showcase the details of the linked Advance.

Settlement is calculated on left hand column

Advance values are displayed in middle column (pulled in from Grain Advance)

Net values are difference between Settlement and Advance values

Contract Price

Basis, Futures Month 

Futures Month/Year and Basis (loaded from linked contract) are disabled

Futures Price – disabled

Link/Unlink Price Row

Clicking Unlink Price Row will remove the link and enable the user to link it to a new row if they have any avaliable.

Please note that the actual link is not saved until the entire settlement is saved, so if you’re in Edit mode and unlink a price row, you will not see that same price row again till you select a new one and save the transaction, or exit the transaction and start over.

Clicking Link Price Row will open up a new form where you can select the price row you want to use.

All price rows from the linked contract will be listed, but only rows that have enough Qty Available can be linked.

Company and Contract thresholds (overfills) are not not considered.

The Grain Receipt will be updated with selected price row and will be considered a price grain receipt after save of the settlement.

Deleted settlement rows will revert grain receipt back to ‘unpriced’.