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IMOS - Equipment Contract Payment

Note: Requires the Barging module.

To make Equipment an IMOS - Equipment Contract Payment#Spot or TC (Time Charter) Contract Payment, first do one of the following:

  • On the Equipment Contract, click 


  • On the Operations menu 

    , under Time Charter In, click Equipment Contract Payment. Then, enter the Contract ID.

Equipment Spot Contract Payments

For Equipment Spot Contract Payments:

  • You are creating your payment to the owner.

  • There is no advance payment option.

  • There is no bunker payment option.

  • There is generally only a single payment against each Spot contract.

Making a Payment

To make a payment:

  1. Specify an Invoice No.

  2. To add rows to the Hire Payment form using the Item Select form, click 


    1. Select any applicable check boxes and any items to be rebilled, and then click OK.

  3. Click 

     to save the Hire Payment.

Freight Calculation

Freight charges are calculated differently for Spot In and Spot Out contracts.

  • Spot In: The amounts due are calculated based on the rows in the Activity Log Equip In/Out tab whose Contract IDs match the Contract ID of the Equipment Spot In Contract.

  • Spot Out: Spot Out billing is done on an individual voyage basis. Spot Out Contracts are back-created when the voyage is created from a Cargo.

    • The amount due for equipment is calculated based on the amount of time the equipment was used.

    • For M&R periods, the equipment is treated as Off Hire and is not billed to the charterer.

Equipment TC Contract Payments

TC Hire is typically paid in advance based on the number of boats and barges specified in the Equipment Contract. After the period is over, adjustments are generated based on the actual number of equipment and days in service. It is likely that the amount due at the end of a month will be different from the amount that was paid in advance at the beginning of that month. When a discrepancy occurs, an adjustment is proposed that you can include in the Hire invoice. This is similar to the Off Hire/Off Hire Reverse grid in a traditional TC Hire Payment.

Making a Payment

To make a payment:

  1. Specify an Invoice NumberPeriod From, and Period To. The Period From and Period To fields are populated according to the Billing Period on the contract.

  2. Click 

     to select line items on the Item Select form to add to the payment.

    1. Item Select presents any adjustments to be included in the Hire Payment. Select the check boxes for those you want to pay/receive credit for:

      • M&R Hours in Excess of the Allowance: M&R entries are mapped to Delay records.

        • Any M&R entries that are in excess of the monthly allowance appear here. 

        • When adding an M&R record, you must indicate how many of the M&R hours are covered by the monthly allowance (the Deduction column).

      • Equipment Shortage/Surplus Periods: Any deviations from the number of equipment in the contract appear here. For example, if the contract includes a boat and two barges, and for a period during the voyage a third barge joined the tow, a row would appear here representing the additional charge for the time that the third barge was in use (surplus). Similarly, if one of the barges left the tow for a period, a row would appear here to credit you for the time the barge was not in service (shortage).

        • To Write Off an Equipment Shortage/Surplus Period, select the check box for the period.

        • To Hide Write Off items, select the check box above the grid.

      • Bunker Adjustments: Bunker adjustments appear here for equipment entering or leaving the tow.

        • Every Delivery or Redelivery of a piece of equipment generates a Bunker Adjustment row.

        • Bunker adjustments with a zero value appear here as well to allow you to check that the zero value is correct.

        • If a barge is being redelivered to the owner and the Track Barge ROBs check box is not selected, the final ROB entered on the Tow will be ignored because all fuel transferred to the barge is treated as having been consumed. The ROB entered on the Tow still appears here so that credit can be received from the owner.

        • To Hide Write Off items, select the check box above the grid.

      • Rate Differentials: All Rate Differentials applicable during the period appear here.

        • If a Rate Differential period overlaps with an M&R period, the Rate Differential period is stopped temporarily while the M&R period is in effect.

        • You can nest multiple instances of the same Rate Differential. For example, you can add a Rate Differential Start as of May 3 and another one with the same Rate Differential Index Term as of May 5, with no Rate Differential end between the two. In this situation, the Rate Differentials go into effect independently of each other, and the Rate Differential will be charged twice.

      • Voyage Rebillables: Include any rebillable items into the Hire Payment, similar to a typical TC contract.

        1. Select the check boxes for any rebillable items to be included in the Hire Payment.

        2. Click OK.

  3. The Hire Payment is updated with Hire lines and any adjustments you selected.

  4. Click 

     to save the Hire Payment.

Source Codes for Equipment TC Contracts

The Equipment TC Contract Payment uses different source codes than the typical TC Payment:

  • EQIP: For Equipment TC In Contract Payment

  • EQOB: For Equipment TC Out Bill

  • ESIP: For Equipment Spot In Contract Payment

  • ESOB: For Equipment Spot Out Contract Payment

Outstanding Hire-Payment Adjustments Report

To run the Outstanding Hire-Payment Adjustments report on the Operations menu

, under Performance Reporting, click Outstanding Hire-Payment Adjustments.

Provisional Invoicing for an Equipment Hire Payment Invoice

You can set up provisional invoicing to record expected expenses earlier, track them in the P&L, and then draw down from those when the actual invoices come in. For more information, visit the Provisional Invoicing article.

Related Configuration Flags


Causes PST Tax to consider all items on the invoice as taxable, including other tax lines, rather than applying only to non-tax invoice items.

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