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Veson IMOS Platform Documentation | Veson IMOS Platform Documentation | | nopanel | true |
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Home > Chartering > Profit Share...
When voyage profit is to be shared with a third party, you can indicate amounts from the Voyage P&L to be considered as Profit Sharing or Premium Revenue on the Profit Share form. For Premium Income, if the vessel is a member of a pool, and the pool assignment is specified as Premium, the Premium amounts from the voyage will be distributed among all the Premium vessels in the pool.
To access the Profit Share form:
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Data entered in this form in the Estimate flows to the Voyage Fixture when fixed, and to the Voyage when scheduled.
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For a Counterparty with the Internal check box selected on its Address Book entry, a mirrored transaction will be created and automatically posted for that Counterparty. The Business Rule for the mirrored invoice is Source PTSR and Code per the Profit Share codes: PNLSHAREL, PNLSHAREP, PNLSHARER, PNLSHAREW. The mirrored invoice cannot be reversed on its own, but will be reversed automatically if the parent invoice is reversed.
Defining Stepped Rates
You can define a series of profit ranges and the profit sharing rates that apply to each range.
On a Profit Share form line item, do the following:
Set Type to Stepped Rate.
Right-click the line item and then click Stepped Rate Table.
Image ModifiedEnter P&L Amount ranges, in order of lowest to highest, with Percentage rates. Profit sharing is calculated as the sum of P&L Amounts in each range.
Examples: When the Voyage P&L = −$1,500, profit sharing = (−$500 × 0.01) + (−$1,000 × 0.02). When the Voyage P&L = $1,500, profit sharing = ($1,000 × 0.02) + ($500 × 0.01).
When P&L Amount Per Day is selected, the value entered in the P&L Amount column is compared to the average daily voyage P&L amount, rather than to the total voyage P&L amount, to determine the profit share percentage that applies.
Voyage Profit Share in Monthly Closing Accruals
When running Monthly Closing Accruals, IMOS will by default pro-rate , the Veson IMOS Platform prorates Lumpsum Profit Share based on the PRORATE accrual method: Voyage Days in Period / Total Voyage Days.
100% allocation of voyage profit share to a period based on the INVOICEDATE the INVOICEDATE accrual method is not possible because there is no invoice date field on the Profit Share form.
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| title | Related Configuration Flags |
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Name/Flag | Description |
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Voyage Profit Share Counterparty Address Types
CFGVoyProfitShareCounterpartyAddressTypes | Specifies the address types that can be selected as Counterparty of Profit Share invoices. To set this flag, enter a comma-separated list |
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Types (for example, O,C,W). | Enable Profit Sharing Constraints
CFGEnableProfitSharingConstraints | When enabled, additional constraints are available in voyage and TC profit-sharing agreements: P&L > Than, P&L < Than, Lumpsum Max, Lumpsum Min, Per Day Max, |
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and Per Day Min. | Default Apply Other Rev Expense
CFGDefaultApplyOtherRevExp |
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Note: This flag should not be used |
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is enabled. If the existing flag is already enabled, it will take precedence and setting CFGDefaultApplyOtherRevExp will have no effect. Disable CFGAllocTCOMiscRevExpToPeriod in order to use CFGDefaultApplyOtherRevExp. Setting this value |
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the Apply Other Revenues/Expenses to Period |
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Invoice Date, only for TCO voyages. SERVICEDATE: Selects the check box by default; 100% of a Lumpsum Other Revenue/Expense amount
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