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Making a Bill

To create a Time Charter Bill to send to the charterer:

1. Do one of the following:
   • On the Time Charter Out toolbar, click Issue Bill.
   • On the Operations menu , under Time Charter Out, click Time Charter Bill.
   • Create the invoice in Financials, on the Time Charter Invoice List.
     
   
2. On the bill, complete the information:
   • Payment Type:
     • Period (default): A regularly scheduled payment for a specific amount of time, such as every 15 days.
     • Special: A payment outside the regular schedule. Period-based costs, such as the Time Charter Hire, cannot be allocated this way. If the contract has no more Period payments remaining, the Payment Type defaults to Special.
     • Incremental: For an Incremental payment, a sort of reconciliation of accounts is performed. It calculates all amounts due since the beginning of the Time Charter Contract, and subtracts all payments made. It then shows the net difference as the payment due. You can use this payment method once at the end of the Time Charter to ensure the accounts are correct, or use it for every payment.
   • Rate: This field is populated only for the Time Charter Hire lines, with the rate used for each line.
     • When the rate of an index-linked hire line is changed after issuing the invoice (either due to a manually-entered value or new market data), the next issued invoice will include a reversal of the previous invoice/invoices and the current rate will be used for that period.
   • TC Rebill: This field can be used to rebill CVE, Miscellaneous, Voyage, Off Hire, or Port Expenses across Time Charter Contracts for the same vessel.
     • Generate the line item that must be rebilled, then populate the TC contract you would like to rebill to (you can select any TC contract associated with the vessel) in TC Rebill. The item created will be available in the  TC Rebillable section of the Item Select screen on the contract you selected.
     • When rebilling between two TC contracts the sign convention will adjust automatically to create the correct debit and credit offset entries depending on whether the item is a payable or a receivable.
3. On the toolbar, click Create/Add Details to select line items to add to the bill in the Item Select form.
4. When you save the bill, it appears in the Summary Tree on the Time Charter Out.
5. To approve, post, reject, export, or email an invoice, on the toolbar, click Invoice. 
   
   When you issue an invoice for bunker costs, the text refers to the entities as Charterer and Owner. The Item Select form has a separate check box for quantities For Operator’s Account, and with Cost on Delivery selected, any prepurchased quantity will be deducted from the delivery quantity. You can also select Supplement to Delivery.
   
   Note: When posting a Time Charter Bill, the Bunkers Redelivery quantity is negative to give an overview and a subtotal of the Accounts Analysis with Rate/Quantity for the relevant accounts.

Approving, Posting, or Rejecting Invoices

To approve, post, or reject invoices, you must have Module Rights Approve an Invoice, Post an Invoice, or Reject an Invoice. Approving, posting, and rejecting invoices can be limited to particular invoice types with configuration flags.

In the top right corner of the invoice viewer, click one of the following:

• 

  : Enter a Comment, if required.

• : Enter a Comment, if required. The Transaction Data Entry form or Journal Entry form opens, so you can post immediately.

• : Enter a Comment that tells the reason for the rejection.

Estimated Owner's Expense Summary Report

The Estimated Owner's Expense Summary Report shows the expense amounts billed in advance and the current balance for each Bill Code. To run the report, on the toolbar, click Report.