¶ Introduction
A commodity is a fundamental good used in commerce, interchangeable with others of the same kind. It typically serves as an input for producing other goods or services, and the term most often refers to raw materials used in manufacturing finished products. A product, in contrast, is the final good offered to consumers. Although the quality of a commodity can vary slightly between producers, it remains largely uniform. When traded on an exchange, commodities must meet defined minimum standards, referred to as a basis grade.
Due to their sheer number, commodities are divided into four main categories:
- Agricultural
- Energy
- Industrial metals
- Precious metals
The top ten commodities are:
- Crude oil
- Coffee
- Gold
- Wheat
- Cotton
- Corn
- Sugar
- Silver
- Copper
- Cotton
¶ Navigation
¶ Specific setup
¶ Step 1: Set up Commodities
- Navigate to: Treasury > Common > Commodities
- Click on the New button
- A New commodity dialogue will open
- Enter a Commodity ID
- Type a Description
- Add a Symbol
- Select a Commodity type. Choose between
- Agricultural
- Energy
- Industrial metals
- Precious metals
- Other
- Select a Currency
- If applicable, choose an Item
- Select a Unit
- Select a Main exchange
- Click the OK button
¶ Daily use
¶ Step 2: Editing Commodities
- Go to: Treasury > Common > Commodities
- The following FastTabs make up the Commodities page:
- General
- Vendors and buyers
- Harmonized coding system (HS)
- Daily prices
¶
Step 2.1: General FastTab
- Expand the General FastTab
The following fields can be edited:
- Description
- Symbol
- Commodity type
- Latest price
- Currency
- Item can be changed or added
- Unit
- Main exchange
- Notes
¶
Step 2.2: Suppliers (Vendors) and Buyers
- Expand the Suppliers and Buyers FastTab
- Click on the Suppliers tab (Vendors)
- Click on the Add button to add a buyer
- Select a vendor account from the dropdown list
- Click on the Buyers tab
- Click on the Add button to add a buyer
- Select a Customer account from the menu
To remove an incorrect line from Vendors and buyers FastTab, click on Remove
¶ Step 2.3: Harmonised coding
- Expand the Harmonised coding system (HS) FastTab
¶
Step 2.4 Daily prices
- Expand Daily prices FastTab
- Click on the Add button to add new daily prices
- Select a Fund
- Enter a date
- Enter Price AM
- Enter Price PM
- The following costs are calculated automatically and will be displayed:
- Accounting price AM
- Reporting price AM
- Accounting Price PM
- Click on the Remove button to delete a line
