Understanding Final Settlement Statements

When the final settlement is complete and the contract harvest is closed, you should print the Final Settlement Statement and send it to the grower. The Final Settlement Statement shows all of the transactions for the harvest period, including the final payments.

The information that appears on the Final Settlement Statement is the same information that appears on the Settlement By Harvest Block form, with these exceptions:

• The Final Settlement Statement report shows the payment schedule from the contract harvest record.

  This includes the distribution date, delivery percent, days add, months add, fixed days, and percent of split, from the payment schedule and the based on code from the advanced payment term.

• The Final Settlement Statement does not show the account number that appears on the Settlement By Harvest Block form, because that is needed for internal purposes only.

Many of the fields that appear on the Final Settlement Statement are described in another task.

See Reviewing Final Settlements.

Note: You can print the Final Settlement Statement report throughout the growing cycle to review a "snapshot" of the transactions at a certain point in time. For example, you might print the Final Settlement Statement and send it with an advance or interim payment to a grower.