R5 & R6 Entries and Posting

1.Principal will raise the debit note to the agent

Currently there is separate account for each agent, therefore suggest to have a clearing GL account

for each agent in the agent location master, so that we can have either one common account or

individual accounts for each agent.

User has to defined the clearing GL Account in the Agent Location as follows, please note system will

accept only balance sheet accounts(Asset/Liability).

System Admin -> General Setup -> Agent Location Master

2. Passing Agent Debit

We have given separate JV creation option to raise such debit notes and there is separate allocation

created for passing the Agent JV. Please find below the allocation definition.

Agent JV Creation:

User can pass the Agent debit using this new option by crediting the revenue account using LINE-REV

allocation and debit the agent clearing account using AGEN_JV allocation as follows.

Finance -> GL Transactions -> Agent JV Creation

Finance -> GL Transactions -> Agent JV Approval

3. R5 & R6 identification and Posting

In order to identify the R5 and R6 transactions, user can use the existing LINE-ALOC for

passing R5 entries. For R6 entries, the below mentioned new allocation(LINE-OTHRV) has

been defined which will have the link with the Agent Debit note JV passed in the principal

books as shown below.

User can pass the AR voucher and use the new allocation to pass the R6 entries as follows,

Finance -> AR Transactions -> AR Voucher preparation

For R5 entries, the same process and they need to use the existing LINE-ALOC as follows,

Finance -> AR Transactions -> AR Voucher preparation

4.Other Revenue Posting

User will use this option to post the other revenue entries, system will pick these entries

which are passed using the AR Voucher entries only,

Documentation -> Voyage Accounting -> Other revenue posting

5. Other revenue approval

User can view both the entries as normal and approval the vouchers for posting

Documentation -> Voyage Accounting -> Other revenue Approval

6. Principal JV

System will pass an auto JV and debit agent for the total amount and Credit Agent Clearing account

for the R6 entries and Revenue account for R5 entries as shown below.

7. Agent side fund transfer entries.

System will credit the principal receivable account as defined the in the carrier gl setup and debit the

respective vessel/voyage/charge as follows,

8. Financial Posting

Agent will make the AR voucher (R5/R6),

Debit Customer Account

Credit Voyage Ledger

Other Revenue posting

Debit Agent Receivable Account

Credit Agent clearing account as defined in the Agent Location master

Credit Principal revenue Account.

Prerequisites:

1. Exchange rate should available for the given vessel/voyage.

2. Agent AR and Group should be defined in Agent Location master.

3. Carrier GL setup in the Agent side to have the AR Code and Group.

4. Revenue GL setup for the charge codes by mode(P/C/E).

5. Agent Clearing account should be defined in Agent Location master

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