Accounting With Monthly Reporting
Yacht Accounting & Monthly Reports
Financial management by a professional and certified accounting team is ideal for yachts. It is rare for yacht captains or crew to be trained accountants, yet they are often shouldered with that responsibility. Accounting tasks are time-consuming and take away time that your captain and crew could be spending taking care of your vessel and ensuring it is running at peak performance. This is especially true on charter yachts, where the crew must also concentrate on delivering a solid charter program during the season.
Avoid burdening your crew with all the bookkeeping and financial reporting tasks so they can focus on operating your yacht to the best of their ability. Instead, take advantage of the shore-based yacht accounting services offered by our Fort Lauderdale yacht management team. Responsible and fully transparent accounting with monthly reporting by trained accountants is the best choice for your yacht.
Comprehensive Yacht Accounting Services
At Yacht Management South Florida, Inc., we offer an extensive selection of yacht maintenance, yacht restoration, and yacht management services. Supervising all aspects of a yacht’s financial footprint is a service that falls under the management umbrella. Our team understands that reliable yacht accounting is part and parcel to ensuring the sound financial management of your yacht.
Working from our conveniently located Fort Lauderdale marina and office, our management team specializes in complete yacht financial management. Our certified and experienced accountants will process and record the hundreds of financial transactions that happen each month when operating a yacht. They will keep track of weekly, monthly, and annual expenditure, while regularly comparing it to the yacht’s budget.
- Additional Financial Services Provided By Our AccountantsPurchase order processing
- Invoice verification and payment issuing
- Offshore bank account setup and bank charge negotiation
- Monitoring, recording, verifying captain and crew debit cards
- Foreign exchange management
- Arranging petty cash transfers worldwide
- Managing insurance coverage and claims
- Crew payroll
- Monthly reporting
Detailed Monthly Reports
Our yacht accounting team will present the yacht owner with a detailed and categorized monthly report of expenses compared to budget. For charter yachts, these monthly reports may also include profit and loss statements along with budget comparisons. The causes of any significant deviations from the budget will be investigated and an explanation will be provided in the report.
The monthly reports and yacht accounting performance updates provided by Yacht Management South Florida, Inc. are easily accessible to all our clients. Should yacht owners have any further questions or concerns, our accountants are available via email or phone call. Open and consistent communication is a top priority for our team. If you want to learn more about our yacht accounting or other management services, contact us or give us a call today at (954) 941-6447.