The pool management Company may charge Participants for management fees/commissions. To incorporate Pooling Management Fees into your workflow, make sure configuration flag CFGPoolCommByAccount is enabled and then do the following:
- Set Up Pooling Management Fee Accounts
- Assign Pooling Management Fee by Vessel
- Run Pooling Distribution
Set Up Pooling Management Fee Accounts
Although the Pooling Management Fee is expressed as a percentage of gross revenues, it does not have to apply to all types of revenues. It is calculated only on those gross revenues falling into an account for which the Mgt check box is selected on the Chart of Accounts form.
To include a particular type of revenue in the Pooling Management Fee calculation, select the Mgt box in the applicable row.
Assign Pooling Management Fee by Vessel
On the Pool Assignment form, enter Mgt Fee % (percentage of the Income After Pooling) or Mgt Fee/Day (flat daily rate) for each vessel.
- For the vessel MV AKTAIA, the Management Fee will be charged at 1% of the Income AP.
- For the vessel MV BELISAMA, the Management Fee will be charged at $100 USD/day basis the On-Hire days.
For each vessel:
- The percentage is applied on the gross revenue.
- The sum of all results in the pool is the Gross Commission.
- The percentage is applied on the weighted days (Pool Days * Vessel Points), which gives the Commission Weight for that vessel.
- The Pooled Commission is calculated by the Commission Weight applied on the Gross Commission.
- To include off-hire days in the calculation of daily management fees, select OH on the Pools or Pool Assignment form.
Run Pooling Distribution
After running the Pooling Distribution, the Mgt Fee column is populated with the Pooling Management Fee calculated.
- For vessel MV AKTAIA, the Mgt Fee is $4,778.84, which is the Income AP $477,884.39 * 1%.
- For vessel MV BELISAMA, the Mgt Fee is $2,741.32, which is $100 USD/day * 27.4132 days, because the first voyage of the vessel commenced on 04-JAN-2017 22:05, so the On-Hire days for the month equal 27.4132 days.
Note: Eff Start Date and Eff End Date fields have been added to the Pooling Distribution form.
|Pool Comm by Account|
When enabled, Pooling Management Fee and owner's commission calculation will be based on the amount in the accounts with Mgt selected in the Chart of Accounts.
|Use Itemized Commission Rate|
Enables setting multiple Commission rates for different Pool Vessels and adds Mgt Fee % and Mgt Fee/Day columns to the Pools and Pool Assignment forms.
|Distribute Pool Comm|
When enabled, the pool management fee is calculated as a percentage of gross revenues and distributed in the same way as the pool result. When disabled, the pool management fee is calculated as a percentage of the vessel's net income after pooling.