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cats:questions:how_to_update_marine_insurance_rates [2019/06/11 19:19] – [Product Categories] amanda | cats:questions:how_to_update_marine_insurance_rates [2019/06/13 15:38] – [Insurance Rate Table] amanda | ||
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=====How to Update Marine Insurance Rates===== | =====How to Update Marine Insurance Rates===== | ||
- | Depending on your company' | + | Depending on your company' |
* Traffic/ | * Traffic/ | ||
* Product Categories | * Product Categories | ||
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====Marine Insurance Report==== | ====Marine Insurance Report==== | ||
- | The marine insurance report is used to report the units, weight, and value of items that are afloat as of the end of a particular month. Set the filters as: | + | The marine insurance report is used to report the units, weight, and value of items that are afloat as of the end of a particular month. |
- | * Active - **Active** (shows only items that have not been marked complete). | + | |
- | * Report Type - **Marine Insurance**. | + | |
- | [{{: | + | |
- | * Fill in the month end date of the report you want to use. | + | |
- | [{{: | + | |
- | | + | |
- | * For CIF Valuation, reduce XD value by '' | + | |
- | * Require BLNo or Vessel - When checked, CATS will only include on this report items with a B/L Number or Vessel on the location screen. Otherwise all AF items will be displayed. | + | |
- | * Method 1 B/L Date (or other method listed) - This option is set up in the System Settings. | + | |
- | * Finalize marine insurance report - Check this option to fill in the Marine Insurance Date on the location screen for all items on this report. | + | |
- | <note warning> | + | |
- | * Set every other filter to read **All**. | + | |
- | The columns highlighted in the image below are suggested for inclusion on this report: | + | First, select your Marine Insurance |
- | | + | |
- | | + | To change the default rate on this report, go to Screen 2 and enter the Insurance Premium in the space provided. |
- | | + | [{{:cats:questions:traffic:marineinsurance_premiumontrafficreports.png|Change the Insurance |
- | | + | The rate will save automatically. |
- | * Sale Shp Terms - Shipment Terms for the allocated sale. | + | < |
- | [{{:cats:procedures:traffic:trafficreport_marineinsurancecolumns.png|Marine | + | |
Print this report as normal and use the totals to report your insurance. | Print this report as normal and use the totals to report your insurance. | ||
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====Using the Product Categories Scan==== | ====Using the Product Categories Scan==== | ||
You can set a separate marine insurance rate for each category of material in your system. To change these rates, go to **Codes & Terms** > **Product Codes** > **Product Categories**. | You can set a separate marine insurance rate for each category of material in your system. To change these rates, go to **Codes & Terms** > **Product Codes** > **Product Categories**. | ||
+ | [{{: | ||
- | Fill in the details for this product category. | + | You can change |
- | [{{:cats:procedures:codes:product_categoryedit.png|Product Category Details}}] | + | [{{:cats:questions:traffic:marineinsurance_updaterateoncategories.png|Enter the marine insurance rates on the product categories.}}] |
- | **Description** - Enter a long description to be displayed when viewing this category.\\ | ||
**Marine FOB Insurance Rate** - Marine insurance rate to be used for this category when material is for shipment terms FOB.\\ | **Marine FOB Insurance Rate** - Marine insurance rate to be used for this category when material is for shipment terms FOB.\\ | ||
**Marine CIF Insurance Rate** - Marine insurance rate to be used for this category when material is for shipment terms CIF.\\ | **Marine CIF Insurance Rate** - Marine insurance rate to be used for this category when material is for shipment terms CIF.\\ | ||
- | **Inland Insurance Rate** - Inland insurance rate to be used for this category.\\ | ||
- | **Warehouse Insurance Rate** - Warehouse insurance rate to be used for this category.\\ | ||
- | **Measure, e.g. Bags Ctn Boxes** - Default measure for this category. You can override this on the grade or the contract.\\ | ||
- | **Exchange** - Default exchange for this category. You can override this on the grade or the contract item. The exchange can be used for Net Physical and Overall Position report purposes.\\ | ||
- | **Weighing Factor** - Ratio to use for calculating the weight of material in this category.\\ | ||
- | **Purchase G/L** - Default Purchase G/L number to use on invoices for this category, instead of the invoice default.\\ | ||
- | **Sale G/L** - Default Sale G/L number to use on invoices for this category, instead of the invoice default.\\ | ||
- | ===Insurance Rates=== | ||
If you enter insurance rates for this category, CATS will use this insurance rate for marine FOB, marine CIF, inland, and warehouse insurance rates instead of the system-wide default rate. | If you enter insurance rates for this category, CATS will use this insurance rate for marine FOB, marine CIF, inland, and warehouse insurance rates instead of the system-wide default rate. | ||
- | ===G/L Numbers=== | + | ====Insurance Rate Table==== |
- | Filling in the **Purchase G/L** or **Sale G/L** fields will cause invoices that reference material in this category to use this G/L instead of the system' | + | If you have the System Setting selected |
- | + | ||
- | ====Shipment Terms==== | + | |
- | The shipment terms are codes CATS uses as shorthand for the terms you have agreed to with your counterparty on a contract. Shipment terms can be created to indicate Free On Board; Cost, Insurance & Freight; Cost and Freight; Exdock, or any other terms you need to use. | + | |
- | + | ||
- | [{{: | + | |
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- | After you pick **Add**, you will be asked to enter a new code. Enter the code and pick **Apply**. | + | |
- | [{{: | + | |
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- | Enter relevant details about this term and pick **Apply**.\\ | + | |
- | [{{: | + | |
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- | **Form of Contract** - Allows you to associate these terms with a confirmation template, for use of specific language as noted below.\\ | + | |
- | **Show on invoice** - Choose to display the full text of the **Description** field on the invoice instead of just the grade code. \\ | + | |
- | **Append Field** | + | |
- | **Connecting Language** - Language to use for appending the field above. If you wrote '' | + | |
- | **Language for Contract Conditions** - If nothing is entered here, CATS will use the **Description** field instead | + | |
- | **Language for Contract Type** - If you choose to associate the terms with a contract template (see above), you can choose the language to appear here. So if you associated this term with the CIF contract confirmation template, you could write '' | + | |
- | + | ||
- | ===Shipment Terms Usage=== | + | |
- | + | ||
- | Shipment terms codes can affect other areas of CATS, including the following items: | + | |
- | + | ||
- | ===Mark to Market Pricing=== | + | |
- | Shipment terms are used by CATS to determine how material will be valued. If an item is entered as FOB, then no further calculations are required to determine the market value of that item, if your system setup uses FOB valuation of open contracts. This is a system setting. | + | |
- | [{{: | + | |
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- | ===Insurance Reports=== | + | |
- | The shipment terms can also affect what items are shown on the Marine and Warehouse insurance reports. This is a system setting. | + | |
- | [{{: | + | |
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- | Also, if you are using a marine insurance percentage table, the terms can be set up to use different | + | |
- | [{{: | + | |
- | From this table, you can control how each shipment term affects | + | Go to **Maintenance > Setup > System Setup > System Settings** and check the box next to **Use marine insurance |
+ | [{{: | ||
+ | Next, from the main menu go to **Codes & Terms** > **Cost Codes** > **Marine Insurance Percentage**.\\ | ||
+ | [{{: | ||
+ | CATS will call up a table of full and contingency rates based on shipment terms. | ||
+ | [{{: | ||
+ | Here you can add or change rates based on the **Shipment Terms**, which come from the contract main screen. | ||
+ | If CATS finds a location screen that matches the shipment terms in this table, it will use the rate you have indicated here. | ||