FINANCIAL ACCOUNTING

Simply tracking the expenditure and cash flow for a large modern yacht is complex and at times frustrating. Dealing with multiple currencies, frequently changing vendors and an industry that has a unique vocabulary can present challenges that many yacht owners prefer to outsource from their existing corporate infrastructure.

The team at Luxury Yacht Group has years of experience accounting for yacht operations and has the specific skills necessary to manage your yacht. Our financial management service takes away the mystery to yacht operating expenses. Our yacht owners receive a clear account statement each month which outlines key expenditures during the previous month and forecasts major expenditures for the future.

Key Features to the financial management service are

	Crew Payroll - The yacht management team makes payroll on your behalf with due regard for your statutory liability to taxes.
	Petty Cash - Using international banking contacts petty cash can be made available around the world. The captain's cash receipts are audited and verified monthly by an account specialist.
	Bill Payment - Luxury Yacht Group pays operating expenses around the world using a dedicated bank account to your vessel's activity.
	Monthly Reporting & Budget Forecasts - Each yacht owner receives a clear, condensed summary of expenditure made on their behalf plus a forecast for the next month based upon current activities.
	Credit cards - cards are issued to the captain and key crew. We monitor card activity and set spending limits appropriate to the operating area and activity.
	For further information please contact Alisha Kornegay. ak@luxyachts.com