Putting you in control of your budgets and relationships
We’ve worked with a lot of yacht and fleet managers in our time, managers who have told us that their relationships are key to what they do. From working closely with the captain to growing deep relationships with the yacht owner and the clients, it’s no surprise that relationships are a priority as their aim is to deliver exceptional customer service.
As a yacht manager, what is preventing you from being in full control and from getting that bigger margin? We would suggest it is, budgets. Or not having true oversight of what is being spent and by whom. And therefore, how much you have left remaining for your share.
May we suggest, having the figures at your fingertips? This is going to make your life as a yacht manager much, much easier. Why? Because you will then be able to:
- Have more time to focus on everything that goes into yacht management, including the safety management of crew and accounting.
- Be able to tell the yacht owner what the budget is and how much has been spent at any given time.
- Manage everything above board with the peace of mind that no risks are being taken.
- Keep up with changes in Tax and VAT regulations so the yacht is always compliant, wherever it is in the world.
- Gain the time to improve your service and increase your margin.
At the end of the day, you don’t know what you don’t know, especially when it comes to tax and regulations across continents, so let us help you. Combine our knowledge of accounting with your skillset and we’ll make a pretty solid team.
With the right accountant who knows the industry (and has a holistic view of how the yacht fits into the bigger picture), you can achieve this level of control over the budget. You can know what the implications are of any changes that are made and avoid any potential (and costly!) mistakes.
We are the Xero Cloud Accounting
specialists in the maritime industry.
We can help you alleviate your bookkeeping burdens cost-effectively. We can help you get real-time data for each yacht you manage so that you always know what you’ve spent and what expenses are coming up. We can help you put a robust accounting procedure in place so that the management accountants figures always match the audit figures and you know what everyone has spent from the crew and the captain to the stakeholders.
A lot of accountants and corporate service providers say that “we are really good at yacht accounting” but they make so many mistakes. Mistakes, which in this industry where the stakes are high, are costly and hold much risk for the owner. To avoid these mistakes, yacht managers need an accountant that can not only answer accounting questions about tax and VAT, but someone who understands the ownership structure of operating yachts and can streamline the accounting process; someone who can help you to generate and review real-time data to avoid any potential problems and give the right advice about the assets onboard.
So how do we do this? What makes us the right fit for you?
We are the Xero Cloud Accounting specialists in the maritime industry. This means that we are perfectly positioned to help you streamline your accounting process and you get to also benefit from a fully-functioning virtual finance department complete with the services of a virtual CFO.
With cloud accounting, you can always see up-to-date numbers and be in control. Combine this with an outsourced finance department, and you can also have access to a heavy hitting Finance Director on a part-time basis to provide business planning, calm guidance and oversight. With regular data reviews, we can help you not only manage your business more effectively but we can help you to simplify the process of yacht management and attracting investment.
We have extensive experience of operating virtual finance departments for clients in the maritime industry, so whatever your requirements, we can create a bespoke package that suits your needs and budget.
Packages and Pricing
Standard financial operating procedures
Operational cashflow requests
Prepaid cards reconciliation
Quarterly standard management information
Quarterly meeting (virtual) with captain/purser
Monthly management information
Monthly meetings (virtual) with captain/purser
Bespoke management information
Unlimited meetings (virtual) with captain/purser
Yacht ownership review
Virtual CFO/Finance department
(based on 100 sales/purchase transactions)
(per crew member)
Safety Management System
Value Added Tax (VAT) Services
Charter and APA Administration
Setup £250/month extra for max 3 months
Software subscription services
Bookkeeping/Accounting/Yacht and Safety Management
invoice at standard subscription rates of software provider