Yacht Accounting
A highly regarded, independent, and trusted accounting support service provider.
Heather Nock
Vice President, Yacht Accounting
"We are always looking at the latest innovations to streamline our workflow, including updating and implementing the latest accounting technology along with processes that enable Owners, Captains, and Crew to save time and money while we provide a trusted and hassle-free solution."
- Heather Nock
We are proud to be an American company with a global reach!
Software You Know
Access your yacht's financials in real-time from anywhere and from any device with QuickBooks Online (QBO). Get real-time knowledge about spending, account balances, run custom reports, and much more.
Unlike other “yacht accounting software”, QBO has transparent and low fixed costs without additional setup, loading, APA, transaction, and other fees.
We use Ramp for yacht cards and expense management. Physical and virtual cards, spending limits, and receipt capture help captains and crew manage onboard purchases. Crew can submit receipts from their phones, while our accounting team reviews transactions, checks coding, and syncs expenses with QuickBooks Online. Less paperwork onboard, with clearer spending records ashore.
Don’t be a Number
Caitlin Baird
Yacht Accountant
With us you’ll have your personal Yacht Accountant’s direct number.
Our Yacht Accounting Support Services
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By partnering with us, you gain control over your yacht's expenditures. We meticulously manage your budget and provide detailed monthly variance reports, ensuring cost efficiency and robust financial oversight.
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We open and maintain dedicated FDIC-insured accounts.
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We use Ramp to provide physical and virtual cards with spending limits and approval controls tailored to your yacht. Crew submit receipts from their phones, and our accounting team reviews transactions and coding with the captain before syncing expenses to QuickBooks Online. This keeps onboard spending organized and gives owners and captains clearer oversight.
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Providing and tracking petty cash is a crucial part of Yacht Accounting. We work with the captain and local agents, wherever they are in the world, to ensure they have the appropriate amount of petty cash.
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We work with every yacht to provide a well-thought-out and customized set of Accounting Instructions that outlines the approval process for invoices, account codes, and much more.
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Our team handles everyday tasks such as processing supplier payments, obtaining approvals for invoices, reconciling accounts, and organizing payroll. We are committed to saving you money without compromising on quality from suppliers and shipyards.
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APA funds are tracked independently for every charter. At the end of the charter, a summary is provided to the captain and approved by the charter guest onboard before their departure.
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We have partnered with professional and dedicated payroll firms in the US and in Europe to ensure that the crew is paid on time and in accordance with all applicable laws and regulations. This is especially important for yachts that spend more than 183 days per year in US waters where US payroll taxes are applicable regardless of crew nationality or the flag of the yacht.
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You will receive professional monthly reports and monthly, quarterly, or annual financial analyses and charts showing you exactly where money is going and where it can be saved. These include highlighting significant savings and extraordinary costs. This is a powerful tool to plan ahead for your yacht’s spending needs.
We save our clients thousands of dollars each month by finding inaccurate vendor invoices, duplication, and other wasted expenses - this means that in most cases, our services pay for themselves, and then some!
"The accounting reporting standards have been accurate, timely, and professional in all respects. Dayboard creates transparency for the Owner and preempts any potential questions that may come from the Owner's finance department or himself personally. This goes a long way to streamline the financials and keep everyone on the same page."
-Captain Shaun Falconer
M/Y LADY S
How Onboarding Works…
With no setup fee and the first month free, changing providers is easy and incurs no added cost.
Step 1:
We will liaise directly with your existing provider to obtain past financial records. If your existing provider is unable or unwilling to release information, no problem!
Step 2:
We’ll setup an individual ‘cell’ for your yacht and open up a dedicated, FDIC-insured bank account with JP Morgan Chase.
Step 3:
We will set up QuickBooks Online using our discounted rates and configure Ramp for yacht cards and expense management. We will agree spending limits and approval requirements with you, connect Ramp to QuickBooks Online, and show the captain and crew how to submit receipts.
Step 4:
We will create a budget based on past financials, planned use, charters, yard periods, and our huge swath of financial data and trends. Once it’s done, we’ll sit down with you to review it.
Step 5:
We will prepare vessel-specific Accounting Instructions covering invoice approvals, Ramp card use, receipt submission, petty cash, and reporting responsibilities. This gives owners, captains, and crew a clear guide to day-to-day financial procedures.
It really is that simple.