FINANCIAL SUITE

Marine Accounting module is a financial system that automates the accounting process and ensures an intelligible flow of credible information between departments. This module is designed for multi-Company, multi-Group, multi-Currency Accounting mechanism. Reporting is available to perform all levels of Consolidation. Novel architecture enables dynamic Chart of Accounts definition. Supports Voyage Accounting and Analysis, Running Cost Reporting, Cash Flow Analysis including accruals.

Suitable for Ship management, Ship owning, Ship holding Groups, Operators, Agents, Bunker Traders, etc. Fully integrates with Danaos Payments, Budgeting, Master Accounts, Supply & Commercial Package (Operation, Freight, Port Expenses, and Bunkers).

  • Monitoring journals between more than one open financial periods.
  • Compatible with SOX Rules.
  • The data entry screens, the report parameters, and the user defined reporting provide the user with maximum flexibility.
  • Security system with user defined roles and tasks, ensures access rights for selected users.
  • User Defined Chart of Accounts and ability of reorganization of accounts according to the needs of the company.
  • User Defined Chart Types for further Analysis of COA
  • All available reporting can be exported to Microsoft Excel for further manipulation.
  • Voyage Accounting data entry and reporting is fully supported.
  • Automatic calculation of Exchange Differences and Revaluation.
  • Automatic creation of Inter-company Transactions.
  • Automatic Calculation of Prepayments between more than one financial periods based on the allocation period of running expenses.
  • Ability to scan or attach all types of documents on transactions.
  • Breakdown of Running Expenses (Accruals) based on the allocation periods.
  • Automatic Closing - Opening of financial period (ability of reverse procedure is   available).
  • Year End Closing entry per vessel/company is automatically created.

Reports

  • Monitoring of Payable & Receivable Open Items (Outstanding reports), including Ageing Analysis reporting.
  • Trial Balances with drill down ability up to the Transaction level.
  • Analytical Ledger Cards with “Link” ability to the Danaos module from where the Journal Entry is created.
  • User Defined Balance Sheet (Drilldown to Bank Reconciliation, Accounts Receivable, Inter-companies, Accounts Payable), Statement of Income (Drilldown to Revenues, G & A Expenses, Interest Income) and Cash Flow reports with Drilldown analytical reporting.
  • Voyage Specific Ledger cards independent of the financial period.
  • User Defined Voyage Results reporting.
  • Charterers’ balances consolidated and per Voyage.

Budgeting System

Application Software specially designed for the Accounting department of a Shipping company. Designed to support all types of calculations and the user can budget : Running Costs, Income, Profit, Financing Costs, Credit Line, Voyage Budgeting, etc. Consolidated budgeting for a group of projects or group of companies and Historic Accounting Information are included in the system.

Payments Module

Application software specially designed for Accounting Department. Selection of Outstanding Payables due in certain period. Supports partial payments, on account payments and bank transfers. Selection of Invoices, Prepayments and Credit Notes to be included at a certain remittance. Supports Multiple banks for each Creditor for each payment currency. Automatically creates Accounting Entry. Automatically creates Remittance Advice Bank letter, Remittance Letter, Check etc. Payments module c<an be customised to meet specifically your company format. Reports: Outstanding per creditor, outstandings per currency and creditor, list of outstanding items.  

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