Refund

• Refund – this field will determine on which patron customers will be included on calculating refunds.
  
  • All Patrons – all patron customers regardless of its stock status.
  • Stockholders – patron customers with Voting, and Non-Voting stock status.
  • Voting Only – only customers with Voting stock status.
• Minimum Refund – the amount to compare if the refund of a customer is eligible or not.
• Service Fee – the amount to be deducted on each refund checks of a customer.
• Cut-off Amount – the amount to be compared to the Refund Amount of each customer refund.
• Cut-off To – this field will determine on how the Cash Refund will be distributed. This will be applied if the Cash Refund is equal or less than the Cut-off Amount.
  • Cash – all the refund will be put into cash. Equity will be zero.
  • Equity – all the refund will be put into Equity. Cash Refund will be zero.
• Pay on Grain Settled or Paid – this field will determine when the refund information will be updated by the Grain Accounting system for both the dollars and the units.
  • Paid – the refund will be calculated after the check is written. If the "Affect Patronage" field in Adjust Settlements program is checked, the patronage amount will be affected when the End of Day processing is completed.
  • Settled – the refund will be calculated after the grain is priced, even if the check as not been printed.  If the “Affect Patronage” field in the Adjust Settlements program is checked, the patronage amount will be only be affected after processing the Reset Category Volume Totals program

Dividend

• Minimum Dividends – the minimum amount of the dividends of a customer is to be paid.
• Prorate Dividends – if checked, it allows the access to the “Cutoff” field and the “Dividends: Per Share” field in order to set up different rates for the various stock types.
• Cutoff – this field will only be accessible if the “Pro-Rate Dividends” field is checked. Enter the date you wish to cut off the calculation of dividends for customers. For example, if stock was purchased by the customer after this date, the calculation will be pro-rated.

Default GL Accounts:

• Voting Stock Issued –  the default GL account to use when a dividends is paid for patron customers with Voting stock status.
• Non-Voting Stock Issued – the default GL account to use when a dividends is paid for patron customers with Non-Voting/Other stock status.
• Fractional Shares – the default Fractional Shares GL account.
• Service Fee Income – the default GL Account to use on Service Fees from refunds.
• Dividends – the default GL account when adding Stock Classifications.
• AP Clearing – the default GL account to use when creating vouchers from the refund processed.