IMOS On-Prem - Time Charter Bill

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

Do one of the following:
- In the Operations module center , under Time Charter Out, click Time Charter Bill. Select the TC Code.
- On the Time Charter Out, click .
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.
  - When rebilling between two Time Charter contracts with different Company values, the amount is rebilled in the same sign as the original amount. If the two contracts are recorded under the same Company, the rebillable amount has the opposite sign of the original amount.
Click to select line items to add to the bill in the Item Select form.
To create an invoice to send, click . The bill appears in the Summary tree on the Time Charter Out.
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.

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, click .

Related Configuration Flags

CFGLockTCOBInvNo	When enabled, the Invoice No. field is disabled on the Time Charter Billing form.
CFGTaxOnTaxPST	Causes PST Tax to consider all items on the invoice as taxable, including other tax lines, rather than applying only to non-tax invoice items.
CFGIncrementalXmlExportDiffs	When enabled, the TC incremental hire invoice XML will only show lines for amount differences per category.
CFGIncludeInvoiceAttachmentBase64	When enabled, includes a base-64 encoded version of the invoice attachments in the XML output.
CFGEnableInvoiceAccrualPercentage	When enabled, an Accrual % field appears and can be used to anticipate bad debt on the following receivable invoices: Freight Invoice, Claim Invoice, Time Charter Billing, Voyage Other Revenue, and Voyage Expenses Rebill. Accrual % defaults to blank. Blank is interpreted as 100%. You can manually set Accrual % to any value greater than 0. An Update button appears so that you can modify Accrual % on invoices that are posted; prior to posting, you can save the invoice to update its Accrual %. The Accrual % value has no affect on posting; the full invoice amount is always posted. On the Voyage P&L: Invoices with Accrual % values of 100% or blank are handled normally. Amounts for invoices with Accrual % values other than 100% are split between three lines: The top summary line shows the accrual amount = (original invoice amount × accrual %). If you expand the summary line, the next line shows the original invoice amount. The line below shows Provision for Bad Debt = (original invoice amount − accrual amount). On Monthly Accruals, for invoices with Accrual % less than or greater than 100, the amount accrued = original invoice amount less provision for bad debt.
CFGAutoAdjustAccrualPercentage	Applies only when CFGEnableInvoiceAccrualPercentage is enabled; as invoice payments are received, the invoice Accrual % is automatically evaluated and increased when necessary to ensure that the sum of payments is not greater than the accrual amount.
CFGAccessTDEFormFromOpsInvoice	Note: CFGEnableTaxGroup must also be enabled. When enabled, you can access the Transaction Data Entry form by clicking on the toolbar of receivable Claim, receivable demurrage/despatch, Time Charter Bill, Voyage Other Revenues and Expenses (Types Revenue and Rebillable Expense), Other Revenues And Expenses By Daily Rate (Type Revenue), and Freight Invoice forms, which can be useful for entering multicurrency tax information.