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After you commence the voyage and enter port activities and expenses, you can see the Voyage Profit/Loss and the TC/Equivalent at any time in the voyage P&L panel.
The voyage, from load port to load port, is the unit that is central to accounting. Voyage revenues and expenses are allocated to the voyage, which is straightforward for freight, port expenses, demurrage, and miscellaneous invoices. However, bunker costs and Time Charter hire expenses can be difficult to tie to a voyage. You are paying upfront, but the expense might cover several voyages, or there might be multiple payments for one voyage. These expenses go to inventory accounts and need to be allocated to a voyage. Voyage Period Journal functionality allows you to allocate your prepaid expenses, such as hire and bunkers, to the proper expense accounts.
Bunkers
Because fuel is generally used on more than one voyage, its cost must be allocated to each voyage. The method of allocation is an accounting decision. The allocation depends on the Bunker Calculation Method, the method of valuing the fuel onboard, which is selected in the Voyage Manager. The calculation happens automatically, as part of the P&L.
Example
You buy 1,000 MT of IFO at $400 (= $400,000), then 600 MT at $500 (= $300,000). You consume 700 MT on a voyage. How are costs allocated to the voyage?
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To get the most information about bunkers, see the Bunker Details on the Voyage Profit & Loss Report. In the Voyage Manager, click 
and then click Voyage Profit & Loss Report. Select Details and Bunker Details and then click OK.
Posting Bunker Costs
You can post bunker journals from Voyage Period Journals in Financials. Security access can be restricted with Module Rights so that, for example, only Operators can post Voyage Bunker Period Journals.
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- One Journal Entry is created for all bunker types, rather than several individual journals.
- With config When configuration flag CFGItemizeBunkerJournal is enabled, instead of being aggregated per fuel type, bunker journals are generated in the breakdown level.
- When filtering the Financials Lists, selecting Voyage Bunker Cost displays all relevant records, regardless of the bunker type.
- If Invoice Approval/Posting/Reject Types are enabled in User Properties (Object Rights tab), there is no need for individual permissions per bunker type; one permission is sufficient.
When the Voyage Period Journal Entry is posted, it appears in the Posted column in the Voyage Manager under Bunker Expenses. If any changes are made to the voyage that impact the bunker expenses, and they have already been posted, the difference is calculated, which can be posted.
Time Charter Hire
If you Time Charter In a vessel for a year, you might use it for several voyages during that time. Because you are paying a daily rate for the vessel, hire is allocated on a time basis. However, if you are paying in 15-day increments, those might not line up with voyages.
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You can post TC In Hire or from Voyage Period Journals in Financials.
Bunker Breakdown Example
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