Home > Operations > P&L - Voyage
🔑 This is a Key Topic, with high value for all users.
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You must have the Voyage P&L Summary Module Right selected, under Reports in the Operations module. |
On the Voyage Manager, the P&L panel enables you to access detailed Profit and Loss information for financial monitoring, reconciliation, and auditing. It shows Estimated, Actual, Posted, and Cash columns, as well as Variance columns showing the difference and percentages between Actual and Estimated and Actual and Posted. You can use this information, along with the Estimate, to determine reasons for any variances and see how well you estimated or what you might be able to improve.
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To expand the panel, click 
. To collapse the panel again, click 
.
Views
To select Operations or Accounts view, at the top right of the expanded Voyage P&L, click its button.
In either view, to create Voyage Journal Entries for Vessel Daily Cost (Hire), Voyage Bunker Cost, Bareboat Daily Cost, and TC In/TC Out Bunker Adjustments, click Voyage Period Journals to open Voyage Period Journals.
Operations View (Default)
Operators use this view to see categories of revenues and expenses.
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Note: The expanded revenues/expenses will show different format types if users use different Locale languages across the company.
Accounts View
Accounting roles typically use this view to see the name and number of each ledger account affected by the voyage and how costs are allocated to them.
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Snapshots
Note: You must have the Revise a Fixed Estimate Module Right selected, under Actions in Chartering.
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To view a saved snapshot, click 
on the Actual or Posted column heading and then click the snapshot.
Snapshot Types
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Snapshot types include:
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Estimated, Actual, Posted, Cash, and Variance Columns
Estimated: These figures come from the Estimate that this voyage originated from. If no Estimate exists, these figures are calculated from the initial data in the voyage when it is created.
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Variance:
Act - Est displays the difference between Actual and Estimated.
Act - Est % is calculated as (Act-Est)/Absolute value of Est. This ensures that when Estimated and Actual are both negative, the Variance % is negative when Actual is less than Estimated and positive when Actual is greater than Estimated.
Act - Pst displays the difference between Actual and Posted.
Act - Pst % is calculated as (Act-Pst)/Absolute value of Act. This ensures that when Posted and Actual are both negative, the Variance % is negative when Actual is less than Posted and positive when Actual is greater than Posted.
Snapshot and Period Comparison
For P&L Snapshot comparison, two selection lists include all the snapshots taken of this voyage:
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If monthly accruals are run for this voyage, the Period selection list includes the months during which the voyage ranges, and All. Selecting a month in this field shows all the Estimated and Actual values prorated until the end of the selected month. The Posted and Cash columns show the full transactions made until that date.
Revenues and Expenses
Items in the list are broken out into Revenues and Expenses, in a tree format. With a configuration flag enabled, Running Costs can be a separate category.
To expand an item to examine it in detail, click
. The calculations appear with the details. When an invoice is created, the Invoice Number appears as a link that you can click to open the invoice; each line item in the invoice is a separate item in the P&L.
To collapse an item again, click
.
Totals
The following totals can appear at the bottom of the table:
Voyage Result
Net Daily (TCE) = (Net Income − (Total Expenses − (Vessel Expenses + Ballast Bonus + TC In Common Voyage Expenses − Address Commission))) / Voyage Days
Note: TC In Common Voyage Expenses do not include ILOHC or INTHC; these two expenses affect TCE.For Type G (Gas Carrier) vessels, Net Monthly (TCE) appears in addition to Net Daily (TCE).
Profit (Loss)
Market Profit (Loss): Appears if a value is entered in the Market Hire field; note Module Right Edit Market Hire on Voyages with Status Other Than Scheduled.
Net Voyage Days = Total Voyage Days − Off Hire Days − Waiting Days
Note 1: Net Voyage Days is a rounded-up number. To use this number in any calculation, open to the Voyage Itinerary Port/Date tab and then hover over any value in the PDays, SDays, XSD, or TSday (SDays + XSD) column. The exact number appears, including decimals.
Note 2: For continuous Off Hire it is important to exactly match the “To” with the “From” time on each line of the Off Hire screen in order to avoid unwanted Net Daily (TCE) spikes (since "Net Voyage Days" in in the denominator of the Net Daily (TCE) formula above)Daily Profit (Loss)
With Profit Sharing:
Profit Share
Net Voy Profit: Total Voyage Profit minus Profit Share
Net Daily Profit (Loss)
Total/Off hire days
Port/Sea days
With configuration flag CFGShowWaitingCostInVoyagePnL enabled, and if applicable:
Waiting for Laycan
Waiting for Orders
Remarks
To add remarks to the current P&L, edit the P&L Remarks field. These remarks are separate from those entered on Snapshots.
Possible Errors
Missing Business Rule
If the description of one of your items is Missing Business Rule, find the Invoice type (Source) and item (Code), and add the account in the Business Rules. In this case, in Accounts view, the P&L totals display amounts that are red and crossed out.
Uncategorized Adjustments
If you have the wrong account type set up for an item, an Uncategorized Adjustments category appears in Accounts view. For example, this can occur if you have VEXP/VOEXP set to post to a Balance Sheet account and create a miscellaneous expense.
Invariant
Invariants occur when P&L items are incorrectly mapped to the balance sheet or income statement. A value that is red and crossed out on the P&L has an invariant error if, when you hover over it, PNL, Invariant, and Differential values appear.
Reporting P&L Data in the Report Designer
Be sure to save the voyage then refresh the Report Designer report on a regular basis to ensure accurate data is being displayed. Failure to do so will cause inconsistencies and variances to arise between the Voyage P&L and Report Designer data.
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