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Short Description

Excerpt

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.

Hire payables can, for most business organisations, be defined as accounting transactions handling the invoices due/owed to Owners of vessels under a time charter contract - but is yet to be paid. All invoices are required to be paid within an established timeframe (or payment terms). As time charter contracts are set for a specific timeperiod - not voyage or voyages, the charter hire payables can span multiple vessels and voyages.

 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.

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.

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