Accruals

The Accruals tab can be located from the menu under Finance.

Maintain AccrualsFind Accruals

The Accruals module is where accruals for open voyages belonging to one or several business units are generated, verified, stored and posted to Accounting. Where there is integration with an accounting system, it is also used for importing and verifying actuals. The module is part of the Period-End-Closing process in Dataloy VMS – please read the Period-End-Closing process prior to utilising the Accruals module.

Accruals are generated based on already available data in Dataloy VMS and are used for proration of cost and revenue for an accounting period and for period-end-closing, i.e. matching cost and revenue to the accounting period in which they were earned/incurred rather than when payment was received/made. The module consists of three sections:

• Pending:

  • Displays generated accruals (including reversals) pending posting to an accounting system.

• Ready For Posting:

  • Displays accruals in queue to be posted to an accounting system.

• Posted:

  • Stores posted accruals and actual records.

Once generated, the module displays the accruals (as per set parameters) pending posting to an accounting system. Accruals will only be generated for open voyages. Each will have a document date equalising the last day of the period the accruals were generated for. A reversal record for each accrual with a document date equal to the first day of the next period is also listed.

Accruals are identified as document type: - ACP (Accruals Posting) - ACR (Accruals Reversal) - CAP (Capitalisation Posting) - CAR (Capitalisation Reversal)

An accrual record in Dataloy VMS is the difference between the to-date estimated and actual amounts for each cost and revenue item for all open voyages, periods and accounts. When verifying accruals, ensure that where there is a difference between the estimated and actual amounts of an item there is an accrual and the accrued amount is the estimate minus the actual. When verifying posted accruals, ensure that the same number of accruals posted have both been moved to the Posted folder in and reached the accounting system. Note: It is possible to split accruals for demurrage and despatch on relet vs. non-relets.

• Accruals will NOT be generated (alone or grouped with another account) if:

  • the voyage's progress status set to Closed.

  • there is a complete match between the estimated and actual amounts of an account, i.e. year-to-date estimate is equal to the year-to-date actual - thus the accrual is zero. Note: To show zero-amount-accrual accounts, check the Write All (Include Zero Accruals) box when re-generating accruals for a particular voyage.

  • the fulfilment level of the account in the Accounts module is set to zero. Note: To enable accuals to be generated - change the fulfilment level from zero (typically to 100%).

  • the account is mapped to another account in the Account Mappings module. Note: To enable accuals to be generated - change the account mapping to applicable account.

  • account mappings that are deleted (i.e. soft deleted).

• Importing actuals into Dataloy VMS and automatic posting of accruals requires integration with an accounting system – this is usually done by Dataloy during initial system setup. Please contact Dataloy for further information.