FIN01 – Disbursement/Other revenue Posting(Non go live agents).

For the non go live agents, system has a facility to load the disbursement and other revenue entries from the text file. Agent can post such entries after loading in the system like normal disbursement and other revenue posting. Principal can approve such entries and system will pass corresponding finance entries in principal as well as in agency books of account.

1.File Loading.

User can load the disbursement and other revenue entries using the below process, the file format should be as per the specification provided.

While loading system will validate the data and load into the respective vessel/voyage in the voyage ledger.

Documentation -> Voyage Accounting ->Disbursement/Other revenue File Loading

2. Disbursement/Other revenue Posting(Non go live).

System will display the vessel/voyage’s for which the entries to be posted as shown below in the screen. User can press the detail button to see each transaction wise details and do the posting.

While system will generate the document number which will flag all these transactions and ready for principal approval.

Documentation -> Voyage Accounting ->Disbursement/Other revenue Posting

3. Disbursement/Other Revenue Approval(Non go live)

User can verify all the vouchers which are posted by the agents and approve at the principal level. System will display the complete details of the transactions from the voyage ledger

Documentation -> Voyage Accounting ->Disbursement/Other revenue Posting

For any setup is missing in the system, system will give appropriate message as shown below,

In this above case, the revenue gl setup is defined for the charge code DOCP and mode is Collect. Authorized user can use the revenue gl setup as shown below and do the linking.

System will generate two Jv’s automatically, one at the principal level and another one at the respective agent level as shown below.

Principal Level JV:

System will debit/credit the agent receivable account and debit/credit the income and expense account as shown below.

Agent Level JV:

System will debit/credit the principal receivable account as defined in the carrier gl setup and debit/credit the respective vessel voyage as shown below.

8. Financial Posting

Agent will load the disbursement/other revenue entries as per the file format given, system will load into voyage ledger and there is no posting at this stage. System will post the following entries, during the approval.

Principal

Debit/Credit Agent Receivable Account

Credit/DebitIncome and Expense GL Account

Agent

Credit/DebitPrincipal Receivable Account

Debit/CreditVoyage Ledger

Prerequisites:

  1. Exchange rate should available for the given vessel/voyage.
  2. Agent AR and Group should be defined in Agent Location master.
  3. Carrier GL setup in the Agent side to have the AR Code and Group.
  4. Revenue GL setup for the charge codes by mode(P/C/E).

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