Update the Status of a Trade Operation

A trade operation status helps you to quickly determine the actions that need to be performed on a trade operation.

A trade operation can be assigned any of these statuses:

• Draft: A trade operation in the draft status is excluded from the charge allocation process. Such a trade operation is awaiting some necessary information like charge lines and purchase order schedules.

• Open: Trade operations in the open status are eligible for charge allocation. When you run the allocation processor using the Manage Landed Costs process, trade operations in the open status are considered for allocation.

• On-Hold: The on-hold status can be used to temporarily exclude a trade operation from the charge allocation process. You can set the trade operation status to on-hold if you want to edit the trade operation. You can later reset the status to open so that the corresponding charges can be allocated.

• Inactive: A trade operation with the inactive status is excluded from the allocation process. You can't edit such a trade operation any further. Any charges that were allocated prior to the status change remain unchanged. The inactive status serves to prevent further modifications to a trade operation, while preserving the integrity of the previously allocated charges.

• Closed: Trade operations in the closed status are still considered by the allocation processor. If any new receipts are received for the purchase order schedules or transfer order shipments associated with a closed trade operation, charges can be applied to those receipts. However, you can't edit a trade operation after it has been closed. The previously allocated charges that were assigned before the status change remain unchanged. The purpose of the closed status is to prevent further editing while allowing for the application of charges to new receipts for existing purchase order schedules or transfer order shipments.

To update the status of a trade operation:

1. In the Receipt Accounting work area, select Trade Operations from the Quick actions menu.
2. Click Update Status for the trade operation.

   You can select the trade operation directly on the Trade Operations page and then click Update Status. Alternatively, you can open the trade operation record for editing and select Update Status from the More Actions menu.

3. From the Status list, select the status that you want to assign to the trade operation.

4. In the Reason field, optionally type your comments specifying the reason for choosing the status.
5. Click Update.