Accounts Payable

Short Description

The Accounts Payable (A/P) module automatically retrieves all payable items on a detailed level from across Dataloy VMS for both Voyage Charter (relet and transshipment) and Time Charter voyages (with the exception of payables to an Owner which are handled in Hire 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.

Accounts payables (or payables) can, for most business organisations, be defined as accounting transactions handling the invoices due/owed to vendors for products and/or services purchased/rendered - but is yet to be paid. All invoices are required to be paid within an established timeframe (or payment terms).

The module consists of four sections:

Pending:
- Displays all unprocessed invoices, grouped by business partner and currency, and the respective invoice items of each that are associated with an opened voyage or voyages.
Assembled:
- Displays created and complete invoices of an opened voyage or voyages pending posting to an accounting system.
Posted:
- Displays invoices of an opened voyage or voyages in queue to be posted to an accounting system and invoices already posted. Also holds the option to print invoices and Statement of Accounts.
Account Statement:
- Displays a generated overview of all posted invoices, reversals credit notes and payments received and the outstanding amounts of a selected voyage or voyages.

Invoices (or payment advice) can only be generated and assembled for frozen voyages and are, even if they span multiple vessels, all grouped by default by voyage and then by business partner and currency. Each invoice consists of one or more invoice items, for example freight, demurrage, broker commission, port cost, handling cost, bunker purchase, various cost, etc., defining for example what is being invoiced, to whom, the amount and currency. As the invoices are also grouped by Business Partner and Currency it is also possible to generate for example one invoice to one business partner containing invoice items spanning multiple voyages by opening several voyages simultaneously and select applicable invoice items from the various voyages. All invoice item types are entered through Master Data. Item data is retrieved from across the system, for example, various modules, estimates, operational data, etc. If data is missing or incorrect - revert to the source of the invoice item data and edit. As the invoices are also grouped by Business Partner and Currency it is also possible to generate for example one invoice to one business partner containing invoice items spanning multiple voyages by opening several voyages simultaneously and select applicable invoice items from the various voyages.

The business partner (or vendor) and currency stated on an invoice (or payment advice) is the business partner against whom a purchase was made and the currency being the one used when pricing the purchase made. All items of the invoice will default to the same source business partner and currency, for example using a freight rate in USD automatically generates an invoice in USD. Entering alternative business partners and/or currency in the Payer and/or Currency columns of invoice items will override the default and result in the original invoice being split into two new. Example: Two invoices – same business partner but different currencies, one for items invoiced in USD and one for items invoiced in EUR. Exchange Rates items can have the same currency but different exchange rates. VAT rates and codes will appear on invoice lines as added in the VAT Rates and VAT Codes modules respectively. Note: If no VAT rates are available when invoicing in Accounts Payable, VAT codes and/or rates have have not been maintained in their respective modules for Output Tax and/or Input Tax.

The bank account for payables used in the module is by default the Default Bank Account Payable (Business Partners, General tab), which can be set once a bank account is linked to a business partner (Business Partners, Bank Accounts tab). If another account appears when assembling an invoice or the incorrect business partner bank details appear on the invoice/Statement of Account, then the proper defaults are not correctly set or the correct account is not linked to the business partner. Also, if the incorrect bank style is stated on an invoice, the invoice has been posted with incorrect bank account. To rectify, first ensure relevant bank account is entered in the VMS (Bank Accounts module) and second, ensure the bank account is linked to correct business partner. Corresponding banks (where applicable) are stated on invoices/Statement of Accounts (unless not registered in the Bank Accounts module). For time charter voyages - a charterer’s bank account to be used for a particular charter party (CP) can be entered through Time Charter Contracts. Also, revenue items against an Owner will appear as deductions in the Accounts Payable module if the deductions are entered as Various Revenue and the Owner as the Invoice Party. If an expected invoice or invoice item does not appear in the Accounts Payable module it has usually not been entered into the system or it has already been assembled and/or posted. If the default currency for bunkers have been manully overridden, it is the new currency which will be used for bunker invoices by the Accounts Payable module.

Also - Various Cost items without an Invoice Party will now automatically register in Accounts Payable with a blank ("-") Business Partner instead of under Hire Payable (to register a Various Cost to Hire Payable - set the Invoice Party item to the Owner). In Dataloy VMS, a freight invoice will as default show in Accounts Receivable with the Charterer as the business partner. However, if the broker is intercomapny and C/O the invoice also needs to be reflected with an invoice created in Accounts Payable with the Owner as business partner (retrieved from th Owner field in the Vessel Administration module. Address commission will be deducted if applicable. 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. Commission items will by default appear for each broker under Accounts Payable, but if the broker is intercompany and not C/O THEN the invoice line generated for commission in Accounts Payable must be switched to Accounts Receivable and the business partner changed to either Owner or Charterer (depends on if Charter's Cost is checked/unchecked).

Advance Payment Requests to agents are also handled in Accounts Payable. When a detailed breakdown for a proforma D/A, is manually, by interface from hub agents or through D/A processors, entered into the VMS it automatically calculates the amount to be advanced to an agent. The amount calculated will by default be equivalent to the D/A proforma total, however, a limit can be set for each agent to allow only a percentage of the requested amount to be advanced (Business Partners module). Once calculated, a pending down payment transaction for advance payment will automatically generate in the Accounts Payable module enabling a complete balance to be calculated for each D/A and agent. More information: Disbursement Account Process.

Under Pending, where all unprocessed invoice proposals are displayed, it is possible to review and edit the Document Line Text, Currency, Exchange Rate Date, VAT Rate and Invoice Party fields of invoice items before - complete or in part – assembling the invoices. If an invoice is assembled only in part, the remainder of the unprocessed items will remain in the Pending section for later processing. Also, if an amount invoiced earlier is greater than the estimated/final amount, a credit note line will appear under Pending. If, however, the invoiced amount is less than the estimated/final amount, an additional invoice line with available data will be generated. Once assembled, i.e. details such as bank account, payment terms, etc. have been entered, an invoice is complete and ready for posting. When posting an invoice (or payment advice) to an accounting system Dataloy VMS automatically generates an invoice number (with sequential numbering depending on year and type of transaction (for set-up and control: Fiscal Years)).

When Asselmbling an invoice, Dataloy VMS allows for two types of payment terms - either in full (100%) or partial (for example: 95% first, 5% later). The payment terms can be set up in two ways: the default mode where one document line is generated with the full amount (and posted to accounting where there is intgeraton) with the amount to be paid later automatically deducted when the initial invoice is printed. A second document line or invoice for the remaining amount cannot be generated. Only in a printed Statement of Account (SoA) will the remaining amount be visible (and from there collect the remining amount). The second option will generate two document lines, one for each payment that will be posted to accounting (and printed) separately showing the respective percentage and amount to be paid. Note: To activate this option, please contact Dataloy. It is, however, not possible to alter the payment terms once the invoice has been assembled. If changes to payment terms are needed, the invoice must then be dissolved and then re-assembled once changes have been made.

Assembling an invoice 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. Note: 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 Accounts 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. When a Statement of Account is generated the Account Statement section will display a generated overview of all posted invoices, credit notes, payments and receipts and outstanding amounts. Note: If a bank style is balanced Dataloy VMS automatically removes it from the Statement of Account.

Location: Modules > Post Fixture > Accounts Payable

Chapters:

Long Description

Generate, Assemble and Post an Invoice/s

Open the voyage/s to create an invoice (or invoices) for. Voyages can be opened either directly in the Accounts Payable module or via the Booking and Operations module.
Note: Only one voyage at a time can be opened through Booking and Operations
Opening multiple voyages simultaneously can only be done in the Post Fixture modules.
1. Either open a voyage/s
  1. directly in Accounts Payable:
    1. Go to Modules > Post Fixture > Accounts Payable. The Accounts Payable window opens.
    2. Click Open Voyage... A pop-up with a list of voyages opens.
      Note: The list can be filtered if needed by clicking the magnifying glass icon at the top-right corner. A row will display above the columns. Filter as applicable.
    3. Check the box/es of the voyage/s to be opened under the Select column - it/they will highlight.
      
      Example:
    4. Click OK. The pop-up will close and all pending invoice proposals associated to the opened voyage/s will display - grouped by business partner and currency - in the upper field under Pending. The bottom field displays the detailed invoice items of each pending invoice respectively.
    5. Go to Step 2.
  2. or through Booking and Operations:
    1. Go to Modules > Booking and Operations > Booking and Operations. The Booking and Operations window opens.
    2. Select applicable vessel in the right-hand upper field - it will highlight. The vessel's details displays across the screen.
    3. In the Voyage List, select the voyage to be opened - it will highlight.
    4. Either
      1. go to the Voyage menu at the to of the screen and from the drop-down menu select Accounts Payable
      2. or click Invoicing and from the drop-down menu select Accounts Payable.
    5. The Accounts Payable module opens on a separate screen displaying all pending invoice proposals associated with the opened voyage/s will display - grouped by business partner and currency - in the upper field under Pending. The bottom field displays the detailed invoice items of each proposed invoice respectively.
    6. Go to Step 2.
In the Pending view's upper field, select the proposed invoice to assemble an invoice for - it will highlight. The bottom field displays the detailed invoice items of the proposed invoice.

Example:
Review and edit (as appropriate) each invoice item, either in
1. the default group view:
  
  Example:
2. or click Toggle View to display the detailed invoice items in Flat View.
  Note: Flat View will list all invoice items of the pending invoices listed, while the default group view will only list those belonging to one pending invoice at a time.
  
  Example:
3. To filter, click the magnifying glass icon at the top-right corner. A row displays above the columns. Filter as applicable, by for example port, booking number, etc.
4. Review/edit/update displayed invoice items (as appropriate) by selective or by bulk update.
  Note: Only the Document Line Text, Currency, Exchange Rate Date, VAT Rate and Invoice Party fields can be edited.
  1. Selective:
    1. revert the source of the invoice item data, for example, estimates, operational data, etc.
      1. Edit data.
      2. Return to the Accounts Payable module and click Reset Data to refresh the items list.
    2. or click the relevant field of the invoice item to be edited- it will highlight - and edit.
      Note: ALL modifications using this method to override data generated by the system will be LOST if Reset Data is at any time used after editing.
  2. Bulk Update:
    1. Click Bulk Update... The Bulk Update - Document Lines dialogue box will open.
      Note: Click Switch Layout to alter the dialogue box layout. Click again to revert to default layout.
      
      Example:
    2. In the upper field filter (as appropriate) so only the records to be edited display.
    3. In the lower field select the field to modify.
      Note: The fields and drop-down menus are disabled by default until checked. The Modify Records button will activate once a field is checked.
      
      Example:
    4. Click Modify Records. The changes applies to all bulk edited records.
    5. Click Close. The dialogue box will close.
  3. Deselect the checkbox/es of invoice items not to be included in the invoice (if any) under the Select column either in the default grouped view or in Flat View.
    Note: To deselect several - click Deselect All - then filter so only relevant rows display (items to be included) and click Select All.
5. If reivew/edit/update if performed in Flat View - click Toggle View to return to the default grouped view. Any changes will apply.
Click Assemble Invoice... The Document Details dialogue box opens.

Example:
In the dialogue box, fill in the fields as follows:
1. Enter a short description of the invoice under Document Text.
2. Enter either
  1. the document date (if other than the default: today's date) under Document Date
  2. or click the Triple Dot Selector next to the field. A pop-up with a calendar opens. Select date and click OK.
3. Enter either
  1. the name of the payee under Issuing Company (if other than the automatically populated)
  2. or click the Triple Dot Selector next to the field. A pop-up with a list of input values opens. Select field and click OK.
    
    Example:
4. Enter either
  1. the bank account number the invoice is to be paid in to under Bank Account
  2. or click the Triple Dot Selector next to the field. A pop-up with a list of input values opens. Select field and click OK.
5. Enter the invoice number of the received invoice (if applicable) under External Doc. No.
6. In the Payment Terms field:
  1. Enter the payment percentage number in the % terms field (if other than the default: 100%).
  2. Select length of the payment term in the first drop-down menu and select the baseline term (i.e. from whence the payment term begins) in the second.
    
    Example:
  3. Enter either
    1. the baseline date (if other than the default: today's date) under Baseline Date
    2. or click the Triple Dot Selector next to the field. A pop-up with a calendar opens. Select date and click OK.
  4. Ensure that the date appearing in the the Due Date field corresponds with "the baseline date plus the length of the payment term".
  5. The lower payment and baseline terms fields are ONLY used in case of partial payment.
    Note: If there is no partial payment - the lower % terms field will by default be 0% and the drop-down menus disabled.
7. Click OK. The dialogue box will close and the assembled invoice moves from Pending to the Assembled view.
  Note: Any deselected invoice items will remain in the Pending view for later processing.
Click Assembled at left-hand side. The Assembled view opens displaying all assembled invoices (i.e complete and ready for posting).

Example:
Click the invoice to be posted in the upper field - it will highlight.
Click Details... to check the invoice details entered when assembling the invoice.
The Document Details dialogue box opens. Review details and then click Close.
Click Print Draft to print a draft invoice - if not go to Step 13.
An Invoice Print Options pop-up opens. Enter details (as applicable) and click OK.
The pop-up will close and a draft payment advice display as an electronic printout in PDF-format.
Note: The draft payment advice will look identical to when printing a posted invoice, but WITHOUT the DataloyVMS generated invoice number. This is generated when an invoice is posted.

Example:
Post an invoice/s either

to an accounting system by selective - (selecting the invoices to be posted) or batch (posting all invoices) posting
1. Selective:
  1. Click the invoice row to be posted - it will highlight.
  2. Click Post Invoice. A pop-up opens asking to confirm move.
  3. Click OK. The pop-up will close and the selected invoice move to the Posted section with status Ready for Posting until sent to an accounting system. A Dataloy VMS invoice number automatically generate for the invoice. Once the invoice is confirmed posted in the accounting system, the status will change to Posted.
2. Batch:
  1. Click Post All Invoices to post all listed invoices - they will highlight.
  2. A pop-up opens asking to confirm move. Click OK.
  3. The pop-up will close and all invoices move to the Posted section with status Ready For Posting until sent to an accounting system. Dataloy VMS invoice numbers will automatically generate for the invoices. Once the invoices are confirmed posted in the accounting system, their status will change to Posted.
or directly to the Posted folder (without being sent to an accounting system).
1. Click the invoice row to be posted - it will highlight.
2. Click Post Invocie. A pop-up opens asking to confirm move.
3. Click OK. The pop-up will close and the selected invoice move to the Posted section with the permanent status Ready for Posting.
  Note: Posting invoices manually requires the manual entry of each invoice into an accounting system. Also: Skip to posted is ONLY used when setting up an new system and there is a need to convert old, already posted invoices into the VMS. Status will immediately be set to posted. If used for new invoices, the invoices will remain with status "draft" and no proper invoice numbers will not be generated. In the accounting system the invoices will show without an invoice number. Re-posting will post the invoice to the accounting system using the draft invoice number.

Click Posted at left-hand side. The Posted view opens displaying all posted invoices (i.e. completed) with either status Ready for Posting or Posted. Invoices posted to an accounting system are identified by automatically genrated Dataloy VMS invoice numbers, each number unique per invoice.

Example:
Options available in the Posted section:
1. Check Invoice Details:
  1. Click Details... to check the invoice details entered when assembling the invoice.
  2. The Document Details dialogue box opens. Review details and click Close.
2. Repost an Invoice if Transfer to an Accounting System Fails:
  1. Click Repost to post the invoice again.
    Note: This option normally requires Administrator access rights.
  2. A pop-up opens asking to confirm posting. Click OK. The invoice is be reposted.
3. Manually Register Payments:
  1. Click Register Payment... The Register Payment pop-up opens.
    
    Example:
  2. Enter either
    1. the date (if other than the default: today's date) under Date
    2. or click the Triple Dot Selector next to the field. A pop-up with a calendar opens. Select date and click OK.
    3. Enter payment amount under Amount.
  3. Click OK. The pop-up will close and and the payment receipt display as a row in the upper field in the Posted section.
    
    Example:
4. Manually Delete a Registered Payment:
  1. Click a payment receipt row in the upper field - it will highlight and the Delete Payment button activate.
  2. Click Delete Payment. The payment receipt row will delete.
5. Issue invoice printouts and/or Statement of Accounts - go to Invoice Printouts/Statement of Accounts.

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Dissolve/Reverse an Invoice

Dissolve an Invoice:
1. Go to Modules > Post Fixture > Accounts Payable. The Accounts Payable window opens.
2. Click Assembled at left-hand side. The Assembled view opens displaying all assembled invoices (i.e complete and ready for posting).
3. Click the invoice to be dissolved in the upper field - it will highlight.
4. Click Dissolve Invoice. A pop-up opens asking to confirm dissolvement.
5. Click OK. The pop-up will close and the invoice revert to the Pending section.
Reverse an Invoice:

Go to Modules > Post Fixture > Accounts Payable. The Accounts Payable window opens.
Click Posted at left-hand side. The Posted view opens displaying all posted invoices.
Click the invoice to be reversed in the upper field - it will highlight.
Note: It is NOT possible to reverse invoices that are payments, are linked to closed voyages (the voyages must first be re-opened) or have no document type (the Reverse... button will automatically deactivate).
Click Reverse. A pop-up opens asking to confirm reversal.
Click Yes. The pop-up will close and an Input pop-up open.
Enter the reason for the reversal and click OK.
The pop-up will close and a Credit In row displays in the upper field alongside the original invoice signifying that the invoice has been reversed.

Example:

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Invoice Printouts/Statement of Accounts

Print an Invoice:
1. Go to Modules > Post Fixture > Accounts Receivable. The Accounts Receivable window opens.
2. Click Posted at left-hand side. The Posted view opens displaying all posted invoices.
3. Click the invoice to be printed in the upper field - it will highlight.
4. Click Print and from the drop-down menu select Select Transaction...
5. An Invoice Print Options pop-up opens. Enter details (as applicable) and click OK.
6. The pop-up will close and a payment advice will display as an electronic printout in PDF-format including the automatically generated Dataloy VMS invoice number.
  
  Example:
Issue and Print a Statement of Account:
1. Go to Modules > Post Fixture > Accounts Payable. The Accounts Payable window opens.
2. Click Posted at left-hand side. The Posted view opens displaying all posted invoices.
3. Click Print and from the drop-down menu select Statement of Account...
4. A Print Options pop-up appears. Enter details (as applicable) and click OK.
5. The pop-up will close and a statement of account displays as an electronic printout in PDF-format.
6. A detailed Statement of Account is generated in the Account Statement section with a different layout.
  1. To view - click Account Statement at left-hand side. The Account Statement view opens displaying the generated overview of all invoices and payments made.
    
    Example:
  2. To Print:
    1. Click Print. An Print Options pop-up opens.
    2. Enter details (as applicable) and click OK.
    3. The pop-up will close the statement of account display as an electronic printout in PDF-format (identical in layout and contents as when issued from the Posted section).

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