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This is a Key Topic, with high value for all users.
Configuration flag CFGAllowEstLaytime enables demurrage estimating, to make the P&L projection more accurate. When the actual demurrage is entered, it overrides this amount.
- In the Voyage Manager, click
and then click Estimated Demurrage.
- Enter the Estimated On date.
- Do one of the following:
- Enter the Rate Per Day, Days Allowed, and Days Used. An Estimate of the Demurrage amount calculates.
For a Tanker, if Days Used is less than Days Allowed, the amount is 0, unless Allow Despatch is selected on the Vessel form. - If days and rates are not known, enter an Estimate. The Estimate is used on the voyage P&L until your first Demurrage calculation.
- Enter the Rate Per Day, Days Allowed, and Days Used. An Estimate of the Demurrage amount calculates.
- Do any of the following:
- To have the voyage P&L reflect the percentage of Demurrage and Demurrage Commission you expect to be collected, enter an Accrual %.
- To include an estimated value for Demurrage in the voyage P&L, select the Estimate is Provisional check box. Then the value of this Estimate is used in the Actual column until it is superseded by calculated and settled amounts; when you enter any actual amounts, they are subtracted from it.
- For example, if the Estimate value is $100,000, and you then enter an actual amount of $50,000, the voyage P&L shows $50,000 provisional and $50,000 actual. If you enter another $60,000 actual, the voyage P&L shows $110,000 actual and no provisional Demurrage.
- When the calculation status is Settled, the Agreed Amount is included in the voyage P&L. When the status is No Demurrage or Canceled, no demurrage or despatch is included in the voyage P&L.
- When all Demurrage calculations are done and Claims are created, clear this check box, so that only calculated and settled amounts are represented in the P&L.
- If this check box is not selected, the estimated demurrage amount is included until the first Laytime Calculation amount is included.
The Estimated Demurrage Amount appears on the voyage P&L. When the Laytime calculation is set to settled status, this will remove the estimated demurrage amount from the P&L (overwrite the estimated amount).