Page Comparison

IMOS Financials is a comprehensive vessel/voyage financial system that automates the accrual accounting process. By drastically cutting the hours spent on complex calculations and the updating of information, your team can quickly realize revenue, close voyage accounts without delay, and refocus on financial strategy and planning. Accounting features include built-in alerts and automatic invoicing. This enables more accurate and efficient billing, tracking, processing, and auditing of all your everyday transactions. When your team members gain more control over the financial process, they have time to focus on strategic financial planning.

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• The IMOS code maintains a default list of internal Source codes. These Source codes are used to define all revenue or expense items that might occur within the length of a voyage. Aside from the default codes, you can use the Operations Ledger to create a unique list of items pertaining to your business (crude oil, dry bulk, chemicals, etc.).
  

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• IMOS allows the creation of a single- or multiple-company organization structure. After creating a master company, any subcompanies can be included. Vessels can be set up as subcompanies, to have remittances for invoices go directly to the subcompany of the vessel. With the financial reporting tools, a Profit & Loss can be run on a per vessel basis, rather than at a voyage or company level.
• If such a structure exists, Object Rights in IMOS Security can restrict data to specific users or groups, depending on their company or vessel access.
  

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• IMOS enables permissions to be managed on a group or user basis. Within each user's settings, rights can be granted to allow access to specific IMOS tools or workflow actions. For example, a Voyage Accountant may need Read Only access to operational data like bunker consumption, but full access to Post bunker consumption cost. Such permissions are also convenient for financial roles that only focus on reporting and analysis, and do not need to edit or save data.
• In addition to Module Rights, IMOS allows Object Rights. For example, a user can be given full access to accounting tools in IMOS, but only be able to view data for a specific Company code or Vessel name.
  

Auditing

• The Audit Trail is a history of the actions related to every transaction in IMOS. Creating or saving a form is a transaction, and inserting, updating, or deleting a value in a field on that form is a separate action in that transaction. This provides a valuable tool for error correction or end-of-year auditing processes.

Accounting Interface

Note: The Messaging Service is available with an interface license, and the documentation is available in PDF form to clients who have purchased the license. For information, please contact your account manager.

• The Accounting interface enables the IMOS Financials module to integrate even more completely with your existing system. Key features include:
  • Management of complex invoicing for time charter, voyage, freight, bunkers, commissions, demurrage, rebillables, trading, and other revenues and expenses
  • Ability to import and export AP, AR, Payments, Batch Payments, Address Book (Company) records, Receipts, and Journals 

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