IMOS - Monthly Accrual Configurations
There are several ways to calculate Monthly Accrual. Different companies might want to do it differently as long as it is allowed by their auditor. Below are the key configuration flags that control how the calculation should be done or the result should be presented.
The most important flags are highlighted in red with an explanation in parentheses.
Name/Flag/Explanation | Description |
|---|---|
Voyacc Accrual Type (This flag only affects how the monthly accrual should be presented; the total amount to accrual will not be affected by this flag. Ops and Act require different Business Rule setup.) | Enables an option to control the type of accrual items using Business Rules. There are five possible values:
When set to a nondefault value, CFGVoyaccAccrualType adds a check box column to the Bill Viewer; to exclude a Bill Viewer row from Monthly Accruals, clear its check box. |
Voyacc Always Prorate (This is by far the most common way of doing Monthly Accrual.) | When enabled, voyage accrual figures are always prorated; TCTO voyages are not affected. |
Voyacc Accrual Date (If not Prorate, Revenues and Expenses are recognized either 0% or 100% basis certain time point/event. The options here are the time point/event we support) | Determines the day on which the accrual process recognizes a voyage for accrual. When a voyage is recognized, 100% of that Voyage P&L is accrued. The following configuration only applies if CFGVoyaccAlwaysProrate is set to N. Depending on the value of this flag, revenues and expenses are recognized on a different basis:
|
Accruals by Day | Specifies a date for running Monthly Accruals, rather than only at month end. |
Ignore Accrual on Voyage Delete | Allows deleting voyages even when the voyages have monthly accruals posted to them. |
Accrual Time Zone | Sets the time zone offset to use when calculating accruals and bunker period journals. The default is 0 (GMT). |
Allocate Bunkers to Voyage | When enabled, post voyage bunker cost as the difference of bunkers used - bunker inv - accrue. See Allocating Period Cost to Voyages. |
Separate and Mirror Profit Share Accrual | Accrues any profit share amounts on the voyage in a separate journal per counterparty. For a counterparty marked as Internal in the Address Book, posting the profit share accrual journal automatically generates a mirrored transaction: For an accrual done from company A to company B, the mirrored journals are generated from company B to company A, with the reversed signs. The new journal type requires a new Business Rule: MPAC:PROFITSHARE. |
Voyacc Use Ballast Voyage Bill Codes | Creates distinct accruals Bill Codes for ballast voyages (voyages without a fixture), with a prefix of B. |
Skip Zero Accruals | When enabled, eliminates any $0 line items in the Journal Entries generated from running Monthly Accruals. |
Show Running Cost | When enabled, forces the Voyage P&L to break out the daily costs or the TC Hire in a section called Running Cost, separate from the expenses. For an Own voyage, the daily expenses will appear. For a TCI or TCO voyage, the Hire will appear. |
Alloc TCO Misc Rev Expense to Period | When enabled, miscellaneous revenues and expenses on TCO voyages are not prorated but allocated to the period the invoice date is in for accrual calculations. |
Accrual Breakdown | When enabled, accrual line items are broken down like the voyage profit and loss. When disabled, there are only two accrual lines, one for revenue and one for expenses. |
Accrue Uncommenced TCO | When disabled, TCO voyages that are not commenced will not be accrued. |
Accrue by Charterer | When enabled, monthly accruals can be made to counterparty specific financial account codes as mapped in the Business Rules table. Counterparty information, e.g., the fields vendorNo, vendorName, vendorExternalRef, and vendorCrossRef have been added to the journal XML. |
Enable Vessel Cost Breakdown on Voyage Journal | Monthly Accruals and Voyage Period Journals will calculate the vessel cost for OVxx voyages without Head Fixture using the breakdown from Vessel form when it's defined. |
Accrue Demurrage Bad Debt | When this config flag is enabled and CFGVoyaccAccrualType is set to Ops, when Accrual Percentage of a Laytime Calculation is less than 100%, demurrage bad debt is accrued with a journal separate from demurrage. Its source code is MACR and bill code is DEMBADDEBT. This feature is applicable to both laytime.exe and laytime_c.exe. |
Voyacc Full on Loss | When enabled, for loss voyages, loss is 100% recognized as of the date trigger set in the flag CFGVoyaccAccrualDate. CFGAutoPnLsnapshot must also be enabled. |
Auto P&L Snapshot | When enabled, current snapshots in the voyage P&L are updated when Cargo and TC contracts connected to the voyage are updated. For Time Charter contracts, snapshots are only updated for related voyages whose total revenues, total expenses, total profit/loss, or TCE have changed; the Estimate, Actual, and Posted columns of the P&L are checked. An update is also done when voyage-related invoices/Bunker Requirements are created/updated/deleted and when changes are made to Bunker Swaps connected to Cargoes in the voyage. When XML notifications are enabled and voyage and voypnl are specified as values for flag notificationsIncludeList, XMLs are exported in this order: voyage, voypnl (estimate), voypnl (actual), voypnl (posted). |
Voyacc Accrual Snapshot Selected | When enabled, accrual snapshots are saved only for selected records in Monthly Accruals rather than for all retrieved. |
Aggregate Fully Posted Bunker Accruals | When enabled, the Veson IMOS Platform will aggregate bunker accruals if the corresponding bunker type is fully posted to the voyage. |
Itemize Bunker Journal | When enabled, instead of being aggregated per fuel type, bunker journals are generated in the breakdown level. |