cats:questions:how_to_update_marine_insurance_rates

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cats:questions:how_to_update_marine_insurance_rates [2019/05/28 16:46] – jencats:questions:how_to_update_marine_insurance_rates [2019/06/13 15:38] (current) – amanda
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-=====How to update marine insurance rates===== +=====How to Update Marine Insurance Rates===== 
- +Depending on your company's settings, your marine insurance rates are stored in **ONE** of the following three ways:
-There are three ways to update marine insurance rates:+
   * Traffic/Insurance report   * Traffic/Insurance report
   * Product Categories   * Product Categories
Line 7: Line 6:
  
 ====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**.  +
-[{{:cats:procedures:traffic:trafficreport_marineinsurancetype.png|Set Report Type to Marine Insurance.}}] +
-  * Fill in the month end date of the report you want to use.  +
-[{{:cats:procedures:traffic:trafficereport_marineinsuranceoptions.png|Marine Insurance Report options}}] +
- Options for Marine insurance reports include: +
-  * For CIF Valuation, reduce XD value by ''(value)''. - Enter a value to force CATS to reduce the value on purchase items with CIF terms by ''X'' amount. +
-  * 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>Once you finalize the marine insurance date, it cannot be removed from the location screen. Only check the "Finalize marine insurance report" option after carefully reviewing your report.</note> +
-  * 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 report from the list of saved reports, then pick **Modify**.  
-  * Insured Amt Total - Total Amount available for insurance. + 
-  * Marine Ins Rate - Rate per default unit. +To change the default rate on this report, go to Screen 2 and enter the Insurance Premium in the space provided.  
-  * TtlMarin Insr Premium - Total premium per location screen. +[{{:cats:questions:traffic:marineinsurance_premiumontrafficreports.png|Change the Insurance Premium rate on Screen 2 to change the system default rate.}}] 
-  * PurchShp Terms - Shipment terms for the purchase contract. +The rate will save automatically.  
-  * Sale Shp Terms - Shipment Terms for the allocated sale. +<note>This rate will only be used for items that do not have a category or term rate.</note> 
-[{{:cats:procedures:traffic:trafficreport_marineinsurancecolumns.png|Marine Insurance Columns}}]+
  
 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.
 +====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**.
 +[{{:cats:questions:traffic:marineinsurance_accessproductcategories.png|Accessing the list of product categories from the main menu. }}]
  
-====Product Categories==== +You can change the rates on each product category, then select Save to save the new values and exit the scan.  
-Category codes are used to create classifications for types of material within products. Examples are creating categories with product **''COF''** (coffee) for **''ROB''** (robusta), **''ARA''** (arabica), or **''DEC''** (decaffeinated). If you have a product **''MTS''** (meats), you can create categories **''POR''** (pork) or **''BF''** (beef). +[{{:cats:questions:traffic:marineinsurance_updaterateoncategories.png|Enter the marine insurance rates on the product categories.}}]
  
-Pick **Add** from the category scan to add a new category code.  
-[{{:cats:procedures:codes:product_categoryscan.png|Add a code from the Product Category Scan}}] 
- 
-Enter the new code and pick **Apply** to continue. 
-[{{:cats:procedures:codes:product_categoryadd.png|Enter New Product Category Name}}] 
- 
-Fill in the details for this product category.  
-[{{:cats:procedures:codes:product_categoryedit.png|Product Category Details}}] 
- 
-**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's default G/L numbers for invoices.  +If you have the System Setting selected to use a separate marine insurance rate table, you can use this table in CATS to set specific rates based on matching material to a template. 
- +
-====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. +
- +
-[{{:cats:procedures:codes:code_terms_shipmentterms.png?direct|Scanning the Shipment Terms}}] +
- +
-After you pick **Add**, you will be asked to enter a new code. Enter the code and pick **Apply**.  +
-[{{:cats:procedures:codes:terms_shipmenttermsadd.png|Enter a Code for the New Shipment Term}}] +
- +
-Enter relevant details about this term and pick **Apply**.\\  +
-[{{:cats:procedures:codes:terms_shipmenttermsedit.png|Entering the Terms Detail}}] +
- +
-**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**  - With this drop-down box you can select to add the Origin code, Origin Long Name, Destination code, or Destination Long Name to the contract terms when they appear on the confirmation. \\  +
-**Connecting Language** - Language to use for appending the field above. If you wrote ''**From Origin**'' in this field, and elected to add the Origin code above, you would see ''**From Origin: BRAZIL**'' (for example) on the confirmation. \\  +
-**Language for Contract Conditions** - If nothing is entered here, CATS will use the **Description** field instead to populate the **Terms** field of the contract confirmation. \\  +
-**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 ''**CIF Contract**'' and it would show up on the contract confirmation.  +
- +
-===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.  +
-[{{:cats:procedures:codes:terms_marktomarketsystemvariable.png|Setting to Use Terms to Value Contracts}}] +
- +
-===Insurance Reports=== +
-The shipment terms can also affect what items are shown on the Marine and Warehouse insurance reports. This is a system setting.  +
-[{{:cats:procedures:codes:terms_marineinsurancemethod.png|Marine Insurance Method Using Terms}}] +
- +
-Also, if you are using a marine insurance percentage table, the terms can be set up to use different rates based on each shipment term. This is an option available to you in CATS.  +
-[{{:cats:procedures:codes:terms_marineinsurancetable.png|The Marine Insurance Terms Table}}] +
- +
-From this table, you can control how each shipment term affects the marine insurance values. You can also choose to omit/include sold material if it has a particular term attached to it. +
- +
  
 +Go to **Maintenance > Setup > System Setup > System Settings** and check the box next to **Use marine insurance table to filter records**.\\ 
 +[{{:cats:questions:traffic:marineinsurance_usetabletofiltersetting.png|The system setting to "Use marine insurance table to filter records".}}]\\ 
 +Next, from the main menu go to **Codes & Terms** > **Cost Codes** > **Marine Insurance Percentage**.\\  
 +[{{:cats:questions:traffic:marineinsurance_marineratetableaccess.png|Accessing the Marine Insurance Percentage table.}}]\\ 
 +CATS will call up a table of full and contingency rates based on shipment terms.
 +[{{:cats:questions:traffic:marineinsurance_marineratetablescan.png|Scanning the Marine Insurance Rate table.}}]\\ 
 +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.
  
  
  • cats/questions/how_to_update_marine_insurance_rates.1559062000.txt.gz
  • Last modified: 2019/05/28 16:46
  • by jen