Yacht Accounting and Bookkeeping

We offer a wide range of yacht financial services to assist Owners and Captains with the management of their yacht. Total transparency means our owners have access to see the yacht’s accounts and bank accounts 24/7.

We use the latest accounting software is an all-encompassing system used by the captain and crew, our shore-based team, our accountants and the bank.

The system is designed to lighten the burden for Captains and Owners whilst maintaining the high standards required for the efficient running of a yacht with monthly / quarterly and annual accounting reports.

Budget Management

Working with the Owner and the Captain, we provide a tailor-made Annual Budget.

The budget is as detailed or as top-line as the Owners and Captains demand but will normally incorporate an operational profile of the vessel.

Once the final figures are approved by the Owner, a Cash-Flow Projection is prepared and fund requests are made accordingly.

The budget is monitored against the actual expenses in detailed monthly reports provided to Owners and/or Captains for monitoring giving them control of the yacht and its expenses without losing time on all other management considerations.

Set Up and Maintain Client Bank Accounts

A client account can be opened in any currency requested, controlled and manage by JMS.

We ensure the influx of management funds are disbursed to the yacht and her creditors correctly and on time.

The account is maintained in credit at all times in accordance with the budget.

Crew Credit Cards

Credit cards and/or Debit cards can also be provided to the Captain and Crew.

The accounts are monitored through monthly audits and original receipts are required to reconcile the account.

When a credit card is supplied, funds equivalent to the credit limit are held and maintained in Escrow.

On Board Accounting Software and Training

Our accounting software provides maximum accuracy and reporting flexibility.

Used concurrently the crew, JMS, our accountants and the bank (each with their unique security and level of access) the Captain can access and view real-time records of the day-to-day accounts.

We provide full training in the use of the accounting software.

To provide total transparency, owners and their teams have 24/7 access to the yacht’s accounting system and bank accounts

World Wide Petty Cash Transfers

We ensure Captains have access to Worldwide Petty Cash Transfers in any currency can be made from the yacht’s management account direct to the Captain as and when required.

Verification and Payment of Invoices

All invoices received by JMS Ltd are verified and checked with the Captain before being paid on our automated wire transfer system to decrease transfer costs.


At the end of the month JMS Ltd. provides the Owner with detailed monthly account reports.

These Reports not only show in detail the expenditure for the month but also a comparison review against the budget.

An Annual Review ensures they are in compliance with the original agreed budget and, if required, an Annual Audit can also be performed.

Training can also be given to Captains they are familiar with the accounting methods and policies operated by JMS Ltd. to ensure timely and informative reporting to the Owner.

Crew Payroll

JMS Ltd. can assist with the payment of all crew salaries.

With the Captains input, salaries are calculated taking into account any onboard cash advances, holiday pay and expenses.

To protect the owner and to ensure compliance with social security regulations paying Crew from an offshore employment company is strongly recommended and can be arranged by JMS Ltd. through a separate service.