Ask any superyacht Captain what he hates most about his job ad the answer is almost certainly going to contain the words; paperwork and accounting.
Captains generally prefer to spend their time running the yacht, managing the crew and ensuring the yacht’s owners and his guests are happy.
All will acknowledge that they have to spend time staying on top of the administration itself but almost all would like help doing that.
Avaletta has launched a new online system created specifically for superyachts.
It aims to make keeping on top of the yacht’s expenses, budgeting and accounting easy and simple.
A team of qualified accountants experienced in the superyacht industry, have designed a system to bring all yacht paperwork needs together into one online portal in order to have real time insights in your administration.
The system allows Captains to scan invoices, documents, purchase orders, payroll and other forms, uploading them directly to the yacht’s online portal, where they can also carry out online billing, payroll tracking, project administration and budget tracking.
Once uploaded, qualified accountants check them and produce real time reports, as well as contribute strategic insights on securing VAT-free purchases and meeting tax obligations.
Real-time insight and advice from specialists can also highlight investment opportunities and budget forecasts.
The system is already working well for the yachts who have trialled the system since its launch in spring 2017, with captains reporting cost and time savings of over 30% on their previous bookkeeping and accounting systems.
An app means Captains, pursers or crew can scan receipts instantly to the software, while petty cash can be tracked easily, with thorough daily reports allowing reporting of expenses in real time.
The features mean the Captain is able to keep a running tally on the budget, with reports at their fingertips accurately demonstrating budgets and forecast across the yacht as a whole, and within projects on board.
The system delivers a streamlined accounting service to yachts, with direct, 24/7 online support from accounting specialists.
The company are offering yachts a 30 free trial in which to evaluate the system.