Freight Collection
The module was designed and developed by Benefit Software in order to help vessel's follow up at sea and port, monitoring of voyage financial data, issuing documents as hire & freight statements and posting and controlling of D/As as well.
Main Features
- Voyage Estimation.
- Information searching from F/N module for the calculation (Port expenses).
- Cash flow according to projected receivables and obligations.
- Charterers’ balances – aging analysis are displayed along with all vouchers that produced the balance.
- Cash flow projection. For off hire periods income is calculated based on a market value.
- When a statement is being issued, system creates pendencies with broker commissions, which close with the relevant invoice received from broker.
- History list of D/As. Search can be made per port, period, vessel etc.
- Follow up of the supplier’s payment status.
- Results for contracts are produced at any time. The system gives a distribution option for a specific period (monthly, quarterly etc.).
- Creation of adjust entries during the process of closing intermediate financial periods. (Deferred / Prepaid transactions).
- Locking of F/N documents that have created accounting transactions.
- Allocations are based on period or prorate algorithm.
- Support Document showing the way allocations have been done during closing of intermediate period.
- Charterers’ statements that include all vouchers for all voyages.
Automation
- System check for existing overlapping or unbilled periods.
- NPR are connected automatically to the corresponding voyage based on date.
- Definition of account links for both modules (bridges between modules).
- Post of transactions, which created from F/N module to accounting module.
- Determination of all automatic transactions that have to be created during closing of intermediate periods (they do not involve with F/Ns transactions).
- Option of automatic creation of reverse transaction (inventory).
- Determination of Unbilled hire periods. System suggests invoices that have to be billed up to a time point.
Advantages
- Choice of a calculation, which will update voyage with the estimated amounts.
- Hire and Freight invoices (Printout of company’s data, logo, address, bank details).
- Hire statements: First, per period, Prefinal, Final. Calculation of accumulated amounts from the beginning of voyage period.
- Voyage forecast (Forecasts of income and expenses until the end of a voyage).
- Keeping pending brokers commissions.
- All pending prepayments. Monitoring off time elapsed since the date the prepayment was made.
- Gathering information for consumptions as well as for off hire periods.
- Comparison with estimations for each voyage and in total for the contract.
