IMOS On-Prem - Pooling Distribution

This pooling distribution workflow is based on the most commonly used and recommended configuration, using configuration flag CFGUsePostedInPooling. Pooling results are calculated from the latest Accrual Snapshot, rather than the posted P&L.

When the voyage results are in for a distribution period (typically one month), the Pooling Distribution form can calculate the earnings and losses of the pool in the distribution period and distribute them to each vessel owner. This is done by taking a monthly accrual snapshot to capture the static state of the voyage results. This snapshot is created when the Monthly Accruals form creates the accrual adjustment journals. When the monthly accrual journal is posted, all the voyage profits and losses of the month go to your general ledger accounts; running the pooling distribution basis the same snapshot guarantees that the same voyage profits and losses are distributed to the pool partners. For more details about how the numbers are calculated, see Pooling Distribution Calculation Details.

Note: If there are unexpected results in the voyages, and the Monthly Accruals form is used a subsequent time, the Pooling Distribution must also be re-created basis the updated Accrual Snapshot.

The Voyage Manager has a No Pooling Distribution check box. If it is selected, the P&L of this voyage will still contribute to the pool, but the voyage will have 0 Income AP.

Pooling Distribution Workflow

To run Pooling Distribution:

1. Make sure that Monthly Accruals have been run for all vessels in the pool.
2. In the Operations module center , under Pooling, click Pooling Distribution.
   
   Note: The form title is Pooling Distribution (New) if the distribution does not yet exist and is calculated. It changes to Pooling Distribution (Existing) if the distribution is previously saved and loaded in the form.
3. Enter the Pool, Year, and Month.

   • In the Pooling Information section, the Pooling Distribution Calculation Details appear:

     • Income BP (Before Pooling) and Income AP (After Pooling)
     • Admin BP (Before Pooling and Admin AP (After Pooling)
     • Mgt Fee (Management Fee)

   • In the Pooling Result Distribution section, each line item contains the distribution details for one particular Participant.

     • Withhold% and Withhold

     • I (Intercompany Transactions)

   • To view the calculation itemized details for each distribution, right-click a line and then click View Payment Details.
     
   • To change the distribution period, which will change the distribution amount, click  to clear any unsaved records of payment amounts generated for the pool payment. After clearing the distribution, close the form. If you want to run Pooling Distribution for a new period, reopen the form.
4. To create distribution invoices, click  to save the Pooling Distribution results. Invoice Status defaults to A, which means that the invoice is ready for approval/posting.

Pooling Distribution Reporting

On the Pooling Distribution form, to run reports, do any of the following:

• Click : The Monthly Pooling Statement is a statement of all the distributed items within the period to each owner, broken down by vessel owner.
• Click  and then click one of the following:
  • Summary: The Pooling Summary is a yearly report, broken down by month. It shows what the monthly distributed and paid amounts are for each vessel owner.
  • Distribution Analysis: The Pool Distribution Analysis Report is an itemized, detailed report about the distribution. It includes the current month distribution as well as previous month adjustments if there are any.
    Note: Double counting of the Pooling Distribution can be caused when you enter the same vessel into a pooling period multiple times. The pooling payment is not designed to be run concurrently by multiple users for the same pool. To mitigate this issue, designate a user or role for running the distribution.