Specify Snapshot Settings

The MineMarket Marketing Service must be enabled for snapshots to be calculated. See Specify Sales and Marketing Settings.

Security Note: You need the Allow the user to maintain Sales and Marketing settings security right in the Options user group security rights group for this activity.

Activity Steps

Open the Options screen.
Select the Snapshot Settings tab.
Update price estimation settings:
1. Select whether to Estimate Price If QP Unfinished.
  Whether to estimate the price if the quotation period (QP) that is normally used for the despatch order snapshot is not finished. The snapshot uses the latest QP that is specified in the applicable contract terms (or as overridden in the despatch order). In most cases, this is the final QP. If checked, and if the QP is not finished, the price is estimated using the specified Price Sources and Price Source Resolution. If unchecked, and if the QP is not finished, the price is calculated using any available prices in the QP. Default: Unchecked.
  Note: Credit management uses the same calculation rules as the snapshot. Invoice prices are not estimated (unless Include Forward Curve Prices is enabled for the Provisional QP header).
  Example: A despatch order is for a contract that has provisional and final QPs specified.
  - If the final QP is finished, the snapshot price is calculated from the final QP.
  - If Estimate Price If QP Unfinished is checked, and the final QP is not finished, the snapshot price is estimated using the specified Price Sources and Price Source Resolution.
  - If Estimate Price If QP Unfinished is unchecked, and the final QP is not finished, the snapshot price is calculated using any available prices in the final QP. If there are no prices available in the final QP, the snapshot price is calculated using any available prices in the provisional QP. If there are no prices available in provisional QP, an error displays on the snapshot.
2. If Estimate Price If QP Unfinished is checked, select the Price Sources.
  The price sources used to estimate the price if the quotation period (QP) that is normally used for the despatch order snapshot is not finished. Individual price series in the Pricing Editor can be configured to use these price sources or to use the last known quotation (LKQ). For example, the snapshot settings can be configured to use forward prices; however, for one price series, there may be no forward curve. LKQ can be used for this price series. Select from:
  - Forward Curve—The price is estimated from the latest available prices in the forward curve associated with the QP's price series and date range.
  - LKQ—The price is estimated from the last known price in the QP's price series.
  - Month Average—The price is estimated from the actual month's average price. If this average is not yet known, the price is estimated from the previous month's average price.
  - Actual Prices + Forward Curve—If actual prices are not available, the price is estimated from the latest available prices in the forward curve associated with the QP's price series and date range. If some actual prices are available, a combination of actual and forward prices is used.
  Example: The current date is 5 May. Actual prices are available up to and including for 4 May, and forward prices are available daily from 5 May. For a May QP, a combination of actual and forward prices is calculated:
```
( Average of AP 1–4 May * NAP ) + ( Average of FP 5–31 May * NFP ) / ( NAP + NFP )
```
  Where AP = actual prices; NAP = number of actual prices; FP = forward prices; NFP = number of forward prices
  The entry frequency of the prices might not be the same; for example, daily actual prices but monthly forward prices. In that case, NFP must be the number of days for which forward prices would be entered if it were also a daily price series.
3. If Estimate Price If QP Unfinished is checked, select the Price Source Resolution to use if multiple Price Sources are specified. Select from Average, Minimum and Maximum.
4. Select whether to Process Snapshots If Prices Change.
  Whether to process the snapshot of despatch orders affected by a change in a price in a price series. If checked, when prices are changed, affected despatch orders are added to a low-priority list for the MineMarket Marketing Service to process. If unchecked, the pricing changes are included only when the despatch order snapshot is processed manually, or because of other changes (for example, changes to weights or assays). Default: Checked.
Update exchange rate estimation settings:
1. Select whether to Estimate Exchange Rate If Not Available.
  Whether to estimate exchange rates if the required exchange rate is not available to calculate the despatch order snapshot. Only applicable if a default exchange rate is not available in the set of contract terms for the combination of required currencies and invoice type. If checked, the specified Exchange Rate Source and Exchange Rate Method are used as the default source and method when the required exchange rate is not available. If unchecked, the despatch order snapshot displays an error message when the required exchange rate is not available. Default: Unchecked.
  Example: The contract terms for a despatch order could specify that the exchange rate will be the average exchange rate for the despatch order's quotation period (QP). However, that QP may be in the future, and hence, exchange rates are not yet available. If Estimate Exchange Rate If Not Available is checked, the despatch order snapshot can display an estimated value based on the available exchange rates.
  Note: Default exchange rates can also be specified for a set of contract terms. If the required combination of currencies and invoice type is available as a default exchange rate, the default exchange rate is used instead of an estimated exchange rate.
2. If Estimate Exchange Rate If Not Available is checked, select the Exchange Rate Source.
  Default exchange rate source to use to determine exchange rates for despatch order snapshots if specified exchange rates cannot otherwise be determined. If no exchange rate source is specified here, the Exchange Rate Source from the despatch order's contract terms is used. If the Exchange Rate Method is Forward Curve, Exchange Rate Source is disabled. The exchange rate source from the contract terms is used to determine which exchange rate forward curve is applicable. Select from exchange rate sources defined in the Currency/Exchange Editor.
3. If Estimate Exchange Rate If Not Available is checked, select the Exchange Rate Method.
  Method used to determine which exchange rate to use from the Exchange Rate Source if the applicable exchange rate from the contract terms is not available. Select from:
  - Last Day Of Previous Month—Uses the last business day of the previous month if a calendar is specified for the Exchange Rate Source. If multiple calendars are specified, the last business day common to all calendars is used.
  - Last Known Exchange Rate (default)
  - Previous Month Average
  - Forward Curve
Select whether to Estimate Invoice Date Using Issue Date Terms.
Whether the invoice date is estimated using the configuration in the Issue Date Terms table on the Payment Terms node of the Sales Contract or Purchase Contract. The estimated invoice date displays in the despatch order snapshot. If checked, until there is an actual invoice, the invoice date is estimated based on the selected Reference Date in the issue date terms. This estimation is compared to the estimated time of arrival at the fulfilment location; and to the last day of any applicable quotation period; and to the current date. The latest of these dates is the estimated invoice date that displays in the despatch order snapshot. If unchecked, until there is an actual invoice, the estimated invoice date is considered to be the planned despatch date or the current date, whichever is the later. Default: Unchecked.
Update invoice type snapshot settings:
1. Select whether to Create Snapshot Per Invoice Type. If checked:
  - Multiple invoice types can be selected.
  - When viewing snapshots for the despatch order, one of these invoice types can be selected to display the snapshot for that invoice type.
  - A default snapshot is still created. The default snapshot represents the most up-to-date data, based on contractual terms, and using the most recent weights and assays present in the system. The default snapshot displays when the invoice type for display is None. The default snapshot is the only snapshot that displays data for costs and for profit and loss.
  - Required data for Cash Forecast reports to be calculated.
  - Despatch order snapshots that are specific to an invoice type can be hedged.
  If unchecked, only the default snapshot is created.
  Note: This setting is required for Cash Forecast Reports and for foreign exchange (FX) Hedging.
2. If Create Snapshot Per Invoice Type is checked, select the applicable Invoice Types from the invoice types defined on the Invoice Types screen. Note:
  - Despatch order snapshots are only created for invoice types for which payment terms are configured in the applicable set of contract terms.
  - Despatch order snapshots specific to the proforma invoice (and any other invoice types lower than proforma) are calculated only on required quantities and contract product or despatch order specifications. These values are used even if loading weights, samples or other later information is available.
  - Despatch order snapshots specific to an invoice type do not include dynamic invoice line items, nor any overrides that have been applied to already created invoices.
  - When an actual invoice is locked, the despatch order snapshot is calculated one more time for that invoice type. Despatch order snapshots are not created for invoice types for which there is a higher locked invoice.
  Example: If Provisional and Final are enabled invoice types:
  - If only a prepayment invoice has been created for the despatch order, the snapshot is created for Provisional and Final.
  - If a provisional invoice is locked for the despatch order, the Provisional snapshot is calculated one more time. The Final snapshot continues to be created.
  - If a final invoice is locked for the despatch order, the Final snapshot is calculated one more time. No further snapshots are created.
Update analyte quality estimation settings:
1. Select whether to Use Analyte Forecast Values.
  Whether to use values from analyte quality forecasts instead of despatch order specifications when calculating despatch order and quota balance snapshots. Analyte forecasts are entered on the Analyte Quality Forecasts screen.
  If checked and actual analyte values from samples and assays are not available:
  - Analyte quality forecasts are used to calculate the snapshot assay information and invoice preview.
  - The applicable forecast is as specified for the despatch order's or quota's product.
  - The analyte forecast values are determined from the despatch order's or quota's planned date.
  - If analyte quality forecast values cannot be determined, analyte specifications are used to calculate the snapshot assay information and invoice preview.
  If unchecked and actual analyte values from samples and assays are not available, analyte specifications are used to calculate the snapshot assay information and invoice preview.
  Default: Unchecked.
  Analyte quality forecast values are not used:
  - If actual analyte values from samples and assays are available
  - In invoice calculations
  - In invoice or despatch order revaluations
2. If Use Analyte Forecast Values is checked, select whether to Process Snapshots If Analyte Forecasts Change.
  If checked, when analyte forecast qualities are changed, affected despatch orders are added to a low-priority list for the MineMarket Marketing Service to process. If unchecked, the changed analyte forecast qualities are included only when the despatch order snapshot is processed manually, or because of other changes (for example, changes to weights or assays). Default: Unchecked.
Select whether to Calculate Costs. These costs represent the following invoices for the despatch order:
- Service
- Freight
- Freight Commission
- Demurrage
- Service Demurrage
- Freight Demurrage
- Freight Demurrage Commission
If checked, the MineMarket Marketing Service calculates costs associated with each despatch order, and displays the costs on the Costs tab of the Assay Values Snapshot tab of the despatch order. The difference between revenue and costs is also calculated for each despatch order and displayed on the Profit and Loss tab.
If unchecked, the costs are not calculated, and the Costs and Profit and Loss tabs do not display.
Default: Unchecked.
Update snapshot copy settings:
1. Select whether to Create Copy Of Snapshots.
  If checked, any snapshots that have been modified since the last save are copied ('archived'). These archived snapshots can be viewed on the Assay Values Snapshot tab of the despatch order. A chart on the Snapshot History sub-tab can be used to compare snapshot values over a period of time. The first time the Marketing Service is run after enabling this option, all despatch order snapshots are copied.
  If unchecked:
  - If Create Snapshot Per Invoice Type is checked, a maximum of one snapshot is available per invoice type, plus the latest default snapshot.
  - If Create Snapshot Per Invoice Type is unchecked, only the latest default snapshot is available per despatch order.
  Default: Unchecked.
  Note: This setting is required if invoice revaluations need to use the snapshot history.
2. If Create Copy Of Snapshots is checked:
  1. Enter a Cut-Off Time if required. This time controls how the archive date is determined. If left blank, the archive date of snapshots is the date and time at which archiving occurs. If the archiving runs later than the cut-off time, the archive date of snapshots is the date on which archiving occurs. If the archiving runs at the same time as or earlier than the cut-off time, the archive date of snapshots is the previous date. For example, if the cut-off time is 9:30:00 and the archiving runs at 9:00:00 on 16 July, the snapshots have an archive date of 15 July and no time displays for the archive date.
  2. Select the Frequency from Daily, Weekly, Monthly, Quarterly, Half Yearly and Yearly. Daily snapshots are only copied on business days, as specified in the first calendar in the Calendar Editor.
  3. Update the Next Run Time if required. Editing this time overrides the time calculated from the Frequency setting.
    Note: These times are the time on the MineMarket Server. The time portion of the Next Run Time is important for snapshot recalculation. For example, if the Next Run Time is 9:00:00 and a snapshot is recalculated for 15 October, the recalculation will use data available at 9 AM. Data (for example, a sample) entered later in the day on 15 October will only be considered in the next snapshot.
Update contract quota snapshot settings:
1. Select whether to Calculate Contract Quota Snapshots. Default: Unchecked.
2. If Calculate Contract Quota Snapshots is checked, select the Planned Date to use as the equivalent of the despatch order planned despatch date when calculating the monetary value of contract quota snapshots.
Click Close.
Click Save.