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VIP - P&L Calculation Options

Home > Operations > P&L Calculation Options


P&L calculation options are available when you have enabled the configuration flag CFGShowPNLCalcOptions. By selecting these options, you can modify certain areas of the P&L calculation, typically using a prorata calculation or a more specific calculation for certain values.

With the Modify P&L Calculation Options Module Right selected under Financials Actions in Security, you can toggle the P&L calculation options on the Monthly AccrualsVoyage Period Journals, and Voyage P&L Summary Report forms. Without it, you can only use these forms with the P&L Options as set by the configuration flags beginning with Default P&L Calc.

Option Descriptions

Each of the following options has one or more possible configurations; for more information, see Related Configuration Flags on this page. These flags can be used to set the default states of the check boxes.

If no P&L calculation options are changed from their defaults, all P&L items will be calculated according to configuration flag settings. Off Hire will be included in voyage duration and thus reflected in the Portion %.

OptionDescription
Apply TC Hire to PeriodTC Hire will not be prorated; instead, TC Hire will be calculated based on the hire rate and actual voyage days in the period. CVE and commissions will be applied only to the period in which they occur. In Monthly Accruals, TC Commission will be applied to period when set as a percentage of the Hire in the contract.
Apply Additional Hire to PeriodFor Time Charter voyages, 100% of an XHIRE (additional hire) amount is allocated to period based on TCIP (Time Charter In Payment) or TCOB (Time Charter Out Bill) Invoice Date.
Apply Off Hire/Waiting to PeriodOff Hire will be allocated to the actual period, that is, full deduction of Off Hire in the period when the Off Hire occurred.
Apply Ballast Bonus to PeriodBallast Bonus and Ballast Bonus Commission for TCI and TCO will be allocated to period of voyage commencement. The P&L Period Range will begin before the voyage commences.
Apply TC Bunker Adjustment to PeriodFor Time Charter voyages, 100% of a Bunker Adjustment amount is allocated to period based on operations ETA for delivery (TCO) or redelivery (TCI). For Time Charter Out Voyages, if the TCO Contract is set to Bunkers on Consumption, the Bunker Adjustment will be allocated to the period containing the departure from the Z port.
Apply TC Expenses to PeriodFor TCIP and TCOB INTHC (Intermediate Hold Cleaning), ILOHC (In Lieu of Hold Cleaning), and VOYEX (Voyage Expenses), 100% of the line item amount is allocated to period based on the Invoice Date of the invoice in which it is included. Items included on incremental invoices will still be allocated based on their original invoice's date.
Apply Bunker Consumption to PeriodBunker expense will not be prorated but calculated based on the actual consumed amount in the period.
Apply Other Revenues/Expenses to PeriodFor invoice types VEXP (Voyage Other Expense, Lumpsum) and VREV (Voyage Other Revenue, Lumpsum), 100% of the invoice amount, including linked non-freight rebills, is allocated to period based on a specific date, determined by configuration.
Apply Port Expenses to Period100% of a Port Expense amount, including linked non-freight rebills, is allocated to period based on a specific date, determined by configuration.
Apply Demurrage to Period

When this option appears on a form, its effect depends on the values of configuration flags CFGDefaultPnlCalcApplyDemurrage and CFGDefaultPnlCalcAdjustForDemurrageDays; for more information, see Compliance with IFRS 15 & 16 Regulations.

Apply TC Rebills to PeriodWhen this flag is enabled, any TC Rebill line items will be recognized in the month of the accounting date of the original expense item when that expense is posted. When the original expense is not yet posted, the TC Rebill item will be recognized in the month of the invoice date of the original expense item.
Adjust Portion for Demurrage Days

The portion percentage for other P&L items is adjusted based on the demurrage days in the period.

Adjust Portion for Off HireOff-hire time is considered when determining the percentage. For example, if you have a 2-month voyage, and it is off-hire for the entire first month, the voyage will be considered 0% complete after the first month and 100% after the second month. If the check box is cleared, the system will consider the voyage 50% complete after the first month and 100% complete after the second month.
Adjust Portion for Waiting TimeWaiting Time is considered when determining the percentage. For example, if you have a 2-month voyage, and it is waiting for the entire first month, the voyage will be considered 0% complete after the first month and 100% after the second month. If the check box is cleared, the system will consider the voyage 50% complete after the first month and 100% complete after the second month.
Adjust Portion for Ballast DaysLoad-to-discharge or delivery-to-redelivery is used as P&L recognition basis when the check box is selected. Otherwise, the full voyage duration is used as the basis. Voyage revenues and expenses will be allocated within the L/D period (for voyage charters) or Y/Z period (for TC Out voyages). Note that this does not impact revenues/expenses that are applied to the period; these will still be allocated to the period in which they were incurred. The change impacts any revenues and expenses that are prorated only. For more information, see Compliance with IFRS 15 & 16 Regulations.
Reconcile Bunker ROB for Current Voyages

Accrual includes ROB rows up until the accrual period with new bill codes of the format ROB_FuelType in current voyages. The accrual basis is based on the ROB from the most current Activity Report in the accrual period rather than based on bunker planning estimation. For consecutive voyages, when no commenced voyage exists for the vessel, the most recently completed voyage is considered current. For non-consecutive voyages, all (except closed voyages) are considered as current.

When running the Monthly Accruals for a TCTO with this option selected, only the net ROB (ROB minus the TCO delivery quantity) will be displayed.

Exclude Running Costs for Long Term TCI/OVThere will be no accrual for Running Cost on OV vessels and vessels on Long Term TCI contract.
Exclude Hire Related Items for Long Term TCOFor long-term Time Charter Out contracts (which is something that can only be defined via inter-company mirroring), exclude hire-related items, such as Hire, Off Hire, CVE, Hire Commissions, Off Hire Commissions, and Off Hire CVE, from P&L calculations.
Accrue Linked Trades Upon SettlementOnly settled periods of trades linked to the Voyage P&L will be included in Monthly Accruals; exposed periods will be excluded.
Apply Internal Freight Revenue to Period

When selected, freight revenue with an internal counterparty on the voyage, excluding demurrage, will be 100% allocated to the period based on the BL Date for the contract. Demurrage will still be allocated according to the Apply Demurrage to Period option. When Adjust Portion for Ballast Days is also selected, its setting will take precedence.

Accruals for Closed VoyagesWhen selected, the system will run accruals only for voyages that are marked as Closed during the specified Accrual Month. 
Capitalize/Amortize Costs Prior to Performing Period

When selected, the costs incurred between the Nomination Date and the Start of the First Load port will be capitalized and then amortized over the performing period as defined by the Start of First Load to the end of Last Discharge on the voyage. The amortization will happen as a percentage of the performing period completed on the accrual date. Costs incurred during the performing period will not be affected by this option.

Requires CFGNominationDateonFixtureandVoyage to be enabled and specific business rules configuration. For more information, see Capitalization and Amortization Configuration and Calculation Details. 

Apply Carbon Expenses to PeriodWhen selected, this will look at the actualized emissions recorded on the voyage based on the bunker consumption details actualized on the voyage and accrue based on that information instead of prorating across the voyage. When enabled along with the Capitalize / Amortize Costs Prior to the Performing Period profile flag on the accruals form, the emissions during the N-L window of the voyage will be capitalized and then amortized over the performing (L-D) period. Requires business rules to be created to support the new expense type.

Option Availability

These options are available in several areas where P&L calculation is performed but may not be valid in all areas. This table shows where the check box will have an effect if used.

Table Legend

 = Option is applied to calculation/report

X = Option is not applied to calculation/report

Option
Period-Based Voyage P&L
Monthly Accruals
Voyage Period Journals
Voyage P&L Summary Report
Apply TC Hire to Period
Apply Additional Hire to Period
Apply Off Hire/Waiting to Period
Apply Ballast Bonus to Period
Apply TC Bunker Adjustment to Period
Apply TC Rebills to Period
Apply TC Expenses to PeriodX
Apply Bunker Consumption to Period
Apply Other Revenues/Expenses to PeriodX
Apply Port Expenses to PeriodX
Apply Demurrage to PeriodX
Adjust Portion for Demurrage Days                     ✓              ✓                   X                        ✓
Adjust Portion for Off Hire
Adjust Portion for Waiting Time
Adjust Portion for Ballast Days
Reconcile Bunker ROB for Current VoyagesX
Exclude Running Costs for Long Term TCI/OV
Exclude Hire Related Items for Long Term TCOX
Accrue Linked Trades Upon SettlementX
Apply Internal Freight Revenue to PeriodX
Accruals for Closed VoyagesXX
Related Configuration Flags
Name/FlagDescription
Default Apply Carbon Expense to Period
CFGDefaultApplyCarbonExpenseToPeriod
When enabled, the "Apply Carbon Expense to Period“ P&L Calculation Option on the Monthly Accruals form will be checked off by default when running monthly accruals. When the flag is enabled, it will look at the actualized emissions recorded on the voyage based on the bunker consumption details actualized on the voyage and accrue based on that information instead of prorating across the voyage. When enabled along with the Capitalize / Amortize Costs Prior to the Performing Period profile flag on the accruals form, the emissions during the N-L window of the voyage will be capitalized and then amortized over the performing (L-D) period of the voyage. Requires business rules to be created to support the new expense type.

Default P&L Calc Apply TC Rebill
CFGDefaultPnlCalcApplyTCRebill

Selects the Apply TC Rebills to Period option by default on all forms that include P&L calculation options.
When enabled on the Monthly Accruals form, any un-invoiced TC Rebill line items will be recognized in the month of the accounting date of the original expense item when that expense is posted. When the original expense is not yet posted, the TC Rebill item will be recognized in the month of the invoice date of the original expense item.

Show P&L Calc Options
CFGShowPNLCalcOptions

Enables P&L calculation options on various forms and reports.

Default P&L Calc Apply TC Hire
CFGDefaultPnlCalcApplyTcHire

Setting this value determines the behavior of Apply TC Hire to Period P&L calculation option. There are three possible values:

  • PRORATE: Clears the check box by default; TC Hire, additional hire items, CVE, and Hire Commissions are prorated based on voyage prorating logic: Voyage Days in Period / Total Voyage Days. If the check box is selected, the calculation logic for EXCLUDEXHIRE is applied.
  • EXCLUDEXHIRE: Selects the check box by default; TC Hire, CVE, and Hire Commissions are applied to period based on the period from and to dates. XHIRE items continue to be prorated.
  • INCLUDEXHIRE: Selects the check box by default; TC Hire, CVE, Hire Commissions, and additional hire items are applied to period. Period items are allocated based on the period dates, and additional hire items are allocated based on Invoice Date.
Default P&L Calc Adjust for Off Hire
CFGDefaultPnlCalcAdjustForOffHire

Selects the Adjust Portion for Off Hire option by default on all forms that include P&L calculation options.
The option will apply when running P&L reports in the Report Designer using Voyage P&L table (except for records with Snapshot Type accrual).

Default P&L Calc Apply Off Hire
CFGDefaultPnlCalcApplyOffHire

Selects the Apply Off Hire/Waiting to Period option by default on all forms that include P&L calculation options.
The option will apply when running P&L reports in the Report Designer using Voyage P&L table (except for records with Snapshot Type accrual).

Default P&L Calc Adjust for Waiting
CFGDefaultPnlCalcAdjustForWaiting

Selects the Adjust Portion for Waiting Time option by default on all forms that include P&L calculation options.
The option will apply when running P&L reports in the Report Designer using Voyage P&L table (except for records with Snapshot Type accrual).

Default P&L Calc Apply Ballast Bonus
CFGDefaultPnlCalcApplyBallastBonus

Selects the Apply Ballast Bonus to Period option by default on all forms that include P&L calculation options.
The option will apply when running P&L reports in the Report Designer using Voyage P&L table (except for records with Snapshot Type accrual).

Default P&L Calc Reconcile Bunkers
CFGDefaultPnlCalcReconcileBunkers

Selects the Reconcile Bunker ROB for Current Voyages option by default on all forms that include P&L calculation options.
The option will apply when running P&L reports in the Report Designer using Voyage P&L table (except for records with Snapshot Type accrual).

Default P&L Calc Apply TC Bunker Adjustment
CFGDefaultPnlCalcApplyTCBnkAdj

Setting this value determines the behavior of Apply TC Bunker Adjustment to Period P&L calculation option. There are two possible values:

  • N (default): Clears the check box by default; TC Bunker Adjustments are prorated based on voyage prorating logic: Voyage Days in Period / Total Voyage Days. If the check box is selected, the calculation logic for Y is applied.
  • Y: Selects the check box by default; any TC Bunker Adjustments are applied to the correct period based on the operations ETA of delivery (TCO) or redelivery (TCI).

For Time Charter Out voyages, if the TCO contract is set to Bunkers on Consumption, the Bunker Adjustment will be allocated to the period containing the departure from the Z port.

Default P&L Calc Exclude Running Costs
CFGDefaultPnlCalcExcludeRunningCosts

Selects the Exclude Running Costs for Long Term TC/OV option by default on all forms that include P&L calculation options.
The option will apply when running P&L reports in the Report Designer using Voyage P&L table (except for records with Snapshot Type accrual).

Show Running Cost
CFGShowRunningCost

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.

Voyacc Accrual Type
CFGVoyaccAccrualType

Enables an option to control the type of accrual items using Business Rules. There are five possible values:

  • Ops (default): No change in behavior for accruals; the items generated are set as configured in the Business Rules.
  • Act: New Business Rules are used for accruals. The items are grouped per their corresponding P&L accounts in the Business Rules (Accruals by Account). These are generated automatically upon opening the Business Rules form.
  • ActCounterparty: Same as Act, but the accruals are also itemized per vendor.
  • ActCounterpartyPort: Port expenses will be accrued on a separate line-item for each port and each counterparty, and all other items will be accrue per account and counterparty.
  • ActPort: Port expenses will be accrued on a separate line-item for each port and all other items will be accrued per account.

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.

Default P&L Calc Apply TC Expense
CFGDefaultPnlCalcApplyTCExp

Setting this value determines the behavior of the Apply TC Expenses to Period P&L calculation option. There are two possible values:

  • N (default): Clears the check box by default; TCI and TCO Voyage Expenses, Hold Cleaning, and ILOHC items are prorated based on voyage prorating logic: Voyage Days in Period / Total Voyage Days. If the check box is selected, the calculation logic for Y is applied.
  • Y: Selects the check box by default; 100% of TCI and TCO Voyage Expenses, Hold Cleaning, and ILOHC items is applied to P&L reporting period based on Invoice Date.
Default P&L Calc Accrue Linked Trades on Settlement
CFGDefaultPnlCalcAccrueLinkedTradesOnSettlement

Selects the Accrue Linked Trades Upon Settlement option by default on all forms that include P&L calculation options.

Default P&L Calc Apply Bunker Consumption
CFGDefaultPnlCalcApplyBunkerCons

Selects the Apply Bunker Consumption to Period option by default on all forms that include P&L calculation options.
The option will apply when running P&L reports in the Report Designer using Voyage P&L table (except for records with Snapshot Type accrual).

Default Apply Other Rev Expense
CFGDefaultApplyOtherRevExp

Note: This flag should not be used if CFGAllocTCOMiscRevExpToPeriod is enabled. If the existing flag is already enabled, it will take precedence and setting CFGDefaultApplyOtherRevExp will have no effect. Disable CFGAllocTCOMiscRevExpToPeriod in order to use CFGDefaultApplyOtherRevExp.

Setting this value determines the behavior of the Apply Other Revenues/Expenses to Period P&L calculation option. There are four possible values:

  • PRORATE (default): Clears the check box by default; Lumpsum Other Revenues/Expenses are prorated based on voyage prorating logic: Voyage Days in Period / Total Voyage Days. If the check box is selected, the calculation logic for INVOICEDATE is applied.
  • INVOICEDATE: Selects the check box by default; 100% of a Lumpsum Other Revenue/Expense amount is applied to P&L reporting period based on Invoice Date.
  • TCOINVOICEDATE: Selects the check box by default; 100% of Lumpsum Other Revenue/Expense amounts is applied to P&L reporting period based on Invoice Date, only for TCO voyages.
  • SERVICEDATE: Selects the check box by default; 100% of a Lumpsum Other Revenue/Expense amount is applied to P&L reporting period based on the service date of the Other Revenue/Expense invoice.
Default P&L Calc Apply Port Expenses
CFGDefaultPnlCalcApplyPortExpenses

Setting this value determines the behavior of the Apply Port Expenses to Period P&L calculation option. There are three possible values:

  • PRORATE (default): Clears the check box by default; Port Expenses are prorated based on voyage prorating logic: Voyage Days in Period / Total Voyage Days. If the check box is selected, the calculation logic for BYDAYS is applied.
  • BYDAYS: Selects the check box by default; the amount of Port Expenses in the P&L reporting period is prorated. The prorata portion is calculated by the following logic: For each port call, Prorated Port Expense Amount = (# of Days at Port within Period / Total # of Days in Port in Voyage) x Port Expense Amount.
  • FULL: Selects the check box by default; 100% of a Port Expense amount is applied to P&L reporting period.
Default P&L Calc Apply Additional TC Hire
CFGDefaultPnlCalcApplyAdditionalTcHire

Setting this value determines the behavior of the Apply Additional Hire to Period P&L calculation option. There are two possible values:

  • N (default): Clears the check box by default; TC additional hire items are prorated based on voyage prorating logic: Voyage Days in Period / Total Voyage Days. If the check box is selected, the calculation logic for Y is applied.
  • Y: Selects the check box by default; 100% of an XHIRE amount is allocated to period based on TCIP or TCOB Invoice Date.
Default P&L Calc Exclude Long Term TCO Hire
CFGDefaultPnlCalcExcludeLongTermTCOHire

When enabled, selects Exclude Hire Related Items for Long Term TCO by default on all forms that include P&L calculation options.
The option will apply when running P&L reports in the Report Designer using Voyage P&L table (except for records with Snapshot Type accrual).

Laytime Enable Period Allocation
CFGLaytimeEnablePeriodAllocation

Enables the Period Allocation form.

Default P&L Calc Apply Demurrage
CFGDefaultPnlCalcApplyDemurrage

When the Apply Demurrage to Period P&L calculation option appears on a form, its effect depends on the values of this flag and CFGDefaultPnlCalcAdjustForDemurrageDays.

There are three possible values for CFGDefaultPnlCalcApplyDemurrage:

  • PRORATE: Demurrage is prorated based on voyage proration logic: Voyage Days in Period / Total Voyage Days. The Apply Demurrage to Period check box is cleared by default; if the check box is selected, the calculation logic for BYDAYS is applied.
  • FULL: The Apply Demurrage to Period check box is selected by default, and 100% of a demurrage amount is applied to the P&L reporting period.

  • BYDAYS: The Apply Demurrage to Period check box is selected by default, the amount of demurrage in the P&L reporting period is prorated. The prorata portion is calculated by the following logic: For each port call, Prorated Demurrage Amount = (Number of Demurrage Port Days within Period / Total Number of Demurrage Port Days in Voyage) × Demurrage Amount.

Default P&L Calc Adjust for Demurrage Days
CFGDefaultPnlCalcAdjustForDemurrageDays

When the Apply Demurrage to Period P&L calculation option appears on a form, its effect depends on the values of this flag and CFGDefaultPnlCalcApplyDemurrage.

When enabled, CFGDefaultPnlCalcAdjustForDemurrageDays adjusts the portion percentage for other P&L items based on the demurrage days in the period.

Default P&L Calc Adjust for Ballast Days
CFGDefaultPnlCalcAdjustForBallastDays

Selects the Adjust Portion for Ballast Days option by default on all forms that include P&L calculation options.
The option will apply when running P&L reports in the Report Designer using Voyage P&L table (except for records with Snapshot Type accrual).

Pool Use Default P&L Calc Options
CFGPoolUseDefaultPnlCalcOptions

When enabled, the default P&L calculation options are used when calculating pool distributions.

Pool Calc Options Effective Date
CFGPoolCalcOptionsEffectiveDate

When set, only voyages which complete on or after the date will use the default P&L calculation options (provided CFGPoolUseDefaultPnlCalcOptions is also enabled).

Apply Adjust Portion for Ballast Days on VC Voyages
CFGApplyAdjustPortionForBallastDaysOnVCVoyages
When enabled and the check box Adjust Portion for Ballast Days is selected, the check box logic extends to voyage types RELT, SPOT, and VCOV.
Default P&L Calc Apply Internal Freight Revenue
CFGDefaultPnlCalcApplyInternalFreightRevenue

When enabled, the check box for Apply Internal Freight Revenue to Period is selected on the Monthly Accruals form by default. This will apply 100% of freight revenue to the period of the BL Date.

Default P&L Calc Cap Amort Contract Fulfillment Costs

CFGDefaultPnLCalcCapAmortContractFulfillmentCosts

When enabled the checkbox for Capitalize/Amortize Costs Prior to Performing Period is selected on the Monthly Accruals form by default. The costs incurred between the Nomination Date and the Start of the First Load port will be capitalized and then amortized over the performing period as defined by the Start of First Load to the end of Last Discharge on the voyage. The amortization will happen as a percentage of the performing period completed on the accrual date. Costs incurred during the performing period will not be affected by this option. Requires CFGNominationDateonFixtureandVoyage to be set to "Y"

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