What Is Voyage Accounting ? Learn Online With YLM

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shipping companies, to know, profit or loss made by its each specified voyage, prepare an account periodically which is called "Voyage Account" It indicates the result of a ship voyage. It is prepared like profit and loss account. Both outward and return journey. 
  Debit side of voyage 
Bunker cost- it refers to the place where fuel is kept. These days ships are driven by diesal oil. Whatever is used during the period voyage are recorded in the debit side of voyage account.

 Port Charges- port is used by the shipping companies for loading and unloading of goods and packing the ship, hence the charges paid for these purposes are known as port charges. 

Depreciation- it is calculated for the period of voyage.

 Insurance- like depreciation it is also calculated for the period of voyage. Eg. when insurance premium is 24000/- per annum and voyage period is 2 months, the premium to be shown in the particular voyage account will be calulated as- 24000x2/12= 4000/-.

 Address commission and brokerage- Both are calculated on the freight after adding primage or it is calculated on the sum value of freight and primage on a certain percentage given in the question. 

Address commission - it is paid to the charterers. 

Freight insurance - it is also calculated on the above defined value.

 Others- stevendering, annual stabding charges, salaries and wages and crew, caption and other stuff, Agency fees, Harbour charges, Address commission, manager's commission 

Credit side of voyage account

 freight
 Primage
 voyage in progress
 Address commission
 Passage money 
Bar sales and saloon income
 Closing stock of stores


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