Navigation:  Voyage Accounting > Principal Posting Setup

 

This Master program enables the user to link the Collection Account, Disbursement Account & Control GL Accounts against each Principle linked with the agency.

 

Note: 

•If FDA Method is selected as “Combined”, then Collection & Disbursement to be posted.

•If FDA Method is selected as “Separate”, then Collection & disbursement has to be posted separately to the GL accounts linked in it.

•Once the GL account has been linked against the Principle,  system should allow to add charges against the each Principle entry. 

•Charges should only list Agent Collection, Agent Expense, Agent Revenue charges. It should refer Category column from Charge master.

•If GL account is linked with the charge, then Revenue GL should be considered from the charge master (If Revenue GL not linked in this program).

•If Revenue GL is linked, then only the GL account which is linked here should be considered (Even if it is linked in the Charge master).

 

 

NOTE:

•Duplication of Principle should not be allowed. If user tries to save a Principle in the grid for which GL accounts were already available then the message to be displayed as

•“Principle already exist”

•Duplication of charges against a particular Principle should not be allowed. If user tries to save a charge which was already linked against the Principle then message to be displayed as 

Charge already exist against the Principle

•If the status is made Inactive against a Principle/charge, then the same Principle / Charge can be allowed to enter again.

•For a particular Principle, multiple charge records can be linked.

 

Below sample for your reference.

From the above example, Principle (Mediterranean Shipping Company) is linked with three charges in the master.