Yacht charter company :
Yacht management is a capital-intensive business with a large number of nomenclature and third-party services necessary to maintain the yacht in a certain condition, acceptable to the client.
Aging a yacht reduces its consumer preference and market price. Small charter companies have no market power to influence price. Also, maximum sales are limited by the duration of the season.
That’s why there are two levers that are common for the successful conduct of this type of business:
Most of the time company’s management is mainly focused on the first point rather than on the second.
Rental of the fleet can be easily adjusted by the sales department, but the maintenance cost is way more complicated subject to manage.
Employees deal with a large number of items that are used in the operation, maintenance and repair of yachts. In the absence of proper accounting of all expenses and their ratio to the sale price of boat rental, it is very difficult to track profit. The task is getting way more complicated because of the boats wide age difference, sizes and the running characteristics. That’s why it is important to allocate costs for each yacht and the ratio of their costs to the price of its rent.
The main accounting goal: Gathering information about business operations and generating reporting information on key indicators for its management.
Additional goal: reduction of time spent by management on reporting.
Yachts, Clients, Booking, Agencies, Partners, Damages, Bases, Storages, Prices, Stuff (materials, equipment, tools) CleaningSet; CleaningStuff; Documents; Electronica; Equipment; Extras; FLAGS; IT Equipment; Kitchen stuff; Office; Office inventory; PROMO; Sails; Service; Spare-parts; Stuff; Tools)
1) Booking requests – Charter contract (Company’s fleet / Other boats)
2) Client payment
3) Agency money transfer
4) Check in. Giving the boat to a client, additional stuff sales, collecting a deposit.
5) Check out. Inspecting the boat after the charter period (Damage evaluation, repair cost calculation, client check out, refund of a deposit)
6) Maintenance cost calculation
8) Inventory use /transfer
9) Money conversion
11) Prices adjustment (booking/services/deposits)