Short Description
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The Hire Payable module automatically retrieves all payable items to an Owner on a detailed level from across Dataloy VMS for Time Charter Contracts (all other payables are handled in Accounts Payable). Once retrieved, the payable items can be reviewed, assembled into invoices and posted to an accounting system. The module provides information about each payable item, based on already available data in Dataloy VMS, for example type of invoice, who the invoice is from, the amount, etc. |
The module consists of three sections:
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Also, when assembling an invoice for a voyage on a TC contract, the voyage cannot be closed. If it is, the Assemble Invoice button will automatically be disabled. To assemble invoices for closed voyages on TC contract the voyage must be re-opened be able to assemble the invoices in Hire Payable. Also, assembling invoices is only possible for one company at a time. The VMS will automatically check if there are more than one company involved amongst the document lines being assembled. If there are more than a single company, the user cannot proceed assembling the invoice. A pop-up will open stating it is not possible to assemble multi-company invoices and that the user must ensure that the invoice to be created is a single-company invoice before an invoice can be assembled. It is also possible to have the same prefix and sequence number for advance payment requests as for the invoice numbering in order to avoid numbering conflicts. Invoice numbering is numberic and consists of eight characters. If the same time charter (TC) has been invoiced with two or more different invoice parties (or Owners) all invoiced items will appear in the Hire Payable module, not in Accounts Payable.
Dataloy VMS allows for two methods of cancelling/deleting an invoice: dissolve and reverse. Assembled invoices can be dissolved and the items are returned as unprocessed to the Pending section. Once an invoice is posted it is not possible to dissolve and return an invoice to either the Assembled or Pending sections. The invoice must be reversed. Reversing an invoice will automatically generate a reversing document to be sent to relevant accounting system and to be displayed in the Posted section together with the original invoice (or payment advice). However, it is not possible to reverse invoices if they are payments, are linked to closed voyages (needs to be re-opened first) or the invoices have no document type (contact Dataloy so document type/s can be added). Note: If accounting transactions including VAT lines are not properly posting to an accounting system then accounts for VAT Payable have not been mapped or mapped properly. Rectify in the Accounts module. Also, when reversing an invoice the original due date will be stated and be exactly the same as on the original document.
The Hire Payable module provides draft and final payment advice (or invoice) print options and the possibility to generate a Statement of Account. Once a printout is generated, a payment advice or Statement of Account will display as an electronic printout in PDF-format. The Statement of Account displays a generated overview of all posted invoices, credit notes, payments and receipts and outstanding amounts. Note: If a bank style is balanced the VMS automatically removes it from the Statement of Account. Also, Various Cost/Revenue commission is not always included with the hire commission on a Statement of Account (SoA), but with the Various Cost/Revenue itself. Also, if the same time charter (TC) has been invoiced with two or more different invoice parties (or Owners) all invoiced items will show in the SOA with the present owner as business partner.
Location: Modules > Post Fixture > Hire Payable
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