Yaccount, the new standard in superyacht accounting online

In the current economic climate everyone is watching their cash and looking at ways of doing what they do in a more efficient way and be more cost conscious. The recently launched web based accounting application Yaccount, specially designed and developed for the yachting industry, offers a unique solution that saves a captains time, improves accounting efficiency, allows yacht management companies to generate around 30% additional revenue, and provides owners with improved efficiency and a real-time view of yacht expenses. Yaccount also offers benefits to charter guests who will experience the benefit of timely hotel style billing.

If you are a Captain, Manager or Owner of a large yacht, you know how time consuming it can be to produce an accurate, timely and correct report of the operational expenses or charter expenses of your yacht(s), and to understand if your yacht is running on budget or not.

Yaccount dramatically simplifies the process by providing dynamic and easy to use online tools that enables all users to spend minimum time on their accounts and achieve maximum results. Yaccount changes all accounting tasks on board and on shore from a nightmare into a dream! Using Yaccount is almost like having someone else is doing your accounts for you.

Controlling cash and managing cash expenditure on board can be one of the captain’s biggest headaches. The discrepancies between actual cash received and expenses incurred over a charter season are often quite large, as is the amount of time required by the captain and/or accounting office to reconcile this cash position. Yaccount provides the mechanisms to accurately record and track cash and cash expenditure on a real-time basis across multiple currencies, thereby eliminating the need for tedious reconciliations.

Credit card and invoiced expenditure also create their own administration overhead that is greatly simplified in Yaccount as a result of real-time access, by both crew and accounting staff, to the same single system that also incorporates a built-in approval process. Owner level approval can also be sought with the owner accessing the same real-time system, or by simply receiving an automated e-mail or text message approval request.

Currently, yacht accounting is typically performed via a mix of Quicken, QuickBooks, MS Excel spreadsheets and a lot of manual manipulation, workarounds and processes tailored to each captain's, owner's or yacht management company's way of working. Yacht accounts are at least a month out of date, if not more! Accountants and management companies are unable to provide owners with timely, accurate reports and charter guests are unable to get their bill at their request on board during or on the last day of their charter. Yaccount standardises these processes and provides accurate up-to-date accounts to all users (accountants, crew and yacht owners) on a real-time basis.

The efficiency, extreme ease of use, and time savings when using Yaccount relieves the captain and crew from an ever increasing administration burden and helps them to run the yacht more efficiently, allowing them to focus on ensuring the safety and comfort of the owners and guests onboard, while having the accounts up to date, always and anywhere!