IMOS - Pooling Cash Distribution

On the Pooling Cash Distribution form, amounts to be distributed to the pool Participants based on an entered available Cash Amount can be calculated. No payments or invoices will be created, this tool serves as a calculator to assist in determining how to allocate available cash among participants. This distribution will consider Pooling Distribution invoices, non-Pooling invoices between the pool Company and any of the pool Participants, and the option to include Advance Payments (not against any invoice) in the calculation. 

To access this form, you must have the Pooling Cash Distribution Module Right selected, under Pooling in Operations.

1. On the Operations menu 

   

   , under Pooling, click Pooling Cash Distribution. 

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2. Select a Pool.
3. Enter Period From and Period To dates. Details for the distribution appear in the following grids:
   • Pooling Distribution includes all the posted Pooling Distribution invoices issued until the Period To date.
   • Participants' Items include all the non-Pooling, posted invoices issued by the pool Company with one of the pool Participants as the counterparty.
4. Enter the available Cash Amount to be distributed. The following fields will populate as long as the Manual Adjustment check box is cleared: 
   1. Pool Participants' Items, Net: the total amount of the Cash Amount that is being allocated to items in the Pool Participants' Items grid. This dynamically updates based on the actual amount allocated, either automatically or with manual adjustments.
   2. Applicable to Distribution: the total amount of the Cash Amount that is available to be allocated to items in the Pooling Distribution grid. This would consist of the Cash Amount minus any amounts allocated to the Participants' Items (i.e. Cash Amount - Pool Participants' Items, Net).
   3. Amount Distributed: The amount allocated to items in the Pooling Distribution grid plus the amount allocated to lines  created in the Advance Payments grid.
   4. Total Allocated: The total Cash Amount allocated to items in all three grids; Pooling Distribution, Participants Items, and Advance Payments.
5. In allocating the available Cash Amount when the Manual Adjustment check box is cleared, the following is considered:
   
   1. If the Cash Amount exceeds the invoice amounts in the Pooling Distribution and Participants' Items grids, advance payment amounts appear in the Advance Payments grid.
   2. Participants' Items are always paid first.
   3. Pooling Distribution invoices are paid according to the Period date, in an ascending order.
   4. After all invoices are paid, Advance Payments are calculated for the Participants, based on their Vessel Points.
      Note: The calculation of the amounts allocation always rounds the numbers down, so there might be a difference between the values in Cash Amount and Total Amount Allocated, and between Total Applied To Distribution and Amount Distributed.
6. To manually adjust Pooling Distribution, Participants' Items, and Advance Payments, select the Manual Adjustment check box and then edit the grids.
7. Do any of the following:
   
   • To create a Request for Payment XML notification that can be sent to a third-party system, click

     

     .
   • To view Pooling Cash Distribution reports, click

     

     and then click one of the following reports:
     • Summary: Displays the balance before, the amount distributed, and the balance after for all Participants.
     • Details: Displays the same information as the Summary report, but itemized per invoices and Advance Payments.
     • Receipts: Displays the receipt for each Participant. When printing this report, page breaks appear between each receipt.