Q. llustrating how to enter a commodity transfer and related general journal entry.
A. Follow these instructions when the value of the commodity being transferred is different at the receiving location than the source location. The values can often be different due to transportation costs. This illustration is for one commodity only.
1.Add a commodity transfer at Grain / Operations / Commodity Transfers by clicking Add.
2.Enter a Transfer Reference, select a commodity for source and destination, and select a location for source and destination.
3.Enter weight or units and price for both source and destination. If source and destination prices are not the same, double-click on Misc Income/Expense and select a G/L account for the price difference.
4.Add grades, comments, BL/Car number, and freight vendor if required, and save.
5.Posting to the appropriate G/L accounts will occur when the user selects Grain Reports / Grain G/L Posting Reports / Commodity Transfer Posting and posts the transaction.
