Our Services
Yacht Financial Management
CLARITY YOU CAN COUNT ON
Transparency. Accountability. Diligence.
Great financial management for any yacht operation is the result of two key factors. First, it depends on the quality of the insight, experience, and planning applied when preparing and setting a realistic budget. Second, it relies on the efficiency, proactivity, and attention to detail invested in monitoring, controlling, and reporting on that budget throughout the year. At JMS Yachting, we believe that yacht financial management should never be complicated or unclear. Instead, it should empower Owners, Captains, and Crew with clarity and confidence at every stage.
Clients who work with JMS Yachting benefit from a dedicated team of highly experienced Marine Accountants who specialise in the complexities of superyacht operations. By leveraging our worldwide cost and process efficiencies, we ensure that every financial aspect of your yacht is handled with precision and foresight. This includes optimised budget management backed by clear, verified line-item reporting and constant transparency. Owners have unrestricted access to bookkeeping systems and yacht bank accounts 24/7, ensuring total visibility. With JMS Yachting, you are not just receiving accounting support—you gain complete control, security, and clarity over your yacht financial management.
To maintain transparency in Yacht Financial Management, JMS Yachting ensures that all expenses are carefully documented and tracked against approved budgets. Every transaction is verified through clear line-item reporting, giving Owners and Captains complete visibility at all times. To strengthen this process, reconciliations are conducted regularly, ensuring accuracy between financial statements and actual expenditures. For further context, you can explore reconciliation in accounting, a principle we apply rigorously to safeguard accountability on every yacht under our management.
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Yacht Accounting and Bookkeeping
JMS Yachting offers comprehensive yacht financial management services that prioritise transparency and accessibility. Our accounting and bookkeeping solutions are designed to simplify processes for Owners and Captains while ensuring that every transaction meets the highest professional standards. With 24/7 access to accounts and regular financial reports, Owners are always in control of how their yacht’s budget is being managed. Our Marine Accountants provide clear monthly breakdowns, showing exactly where funds are allocated and how they align with the operational plan. This prevents overspending, encourages smarter financial decision-making, and gives Captains the tools they need to manage day-to-day operations effectively. By integrating streamlined reporting methods and automated systems, JMS Yachting guarantees accountability at every step of the financial cycle. For yacht financial management, accuracy and transparency are more than a promise—they are the foundation of our service. -
Set Up and Maintain Client Bank Accounts
JMS Yachting provides complete support for setting up and managing client bank accounts in any currency, ensuring seamless transactions for yacht operations worldwide. We guarantee that funds are disbursed accurately and on time to both the yacht and its creditors, eliminating unnecessary delays or errors. Accounts are maintained in credit at all times in line with the approved operational budget, ensuring smooth financial flow. Our proactive approach to yacht financial management means that Owners never need to worry about liquidity or the status of their accounts. By combining advanced banking systems with professional oversight, we ensure that your yacht has the financial flexibility it needs to function efficiently, whether covering operational expenses, maintenance, or emergency payments. JMS Yachting provides reassurance that every aspect of your finances is monitored with diligence and accuracy. -
On Board Accounting Software and Training
To support accuracy and efficiency, JMS Yachting employs advanced accounting software specifically tailored for yacht operations. This system provides controlled access for the crew, accountants, Captains, JMS Yachting's managers, and even the bank, ensuring multiple levels of security. Captains receive detailed training to use the software effectively, enabling them to monitor real-time accounts, process expense claims, and oversee financial records with confidence. Owners and their representatives benefit from 24/7 access to the system, ensuring complete transparency across all transactions. This accessibility makes yacht financial management more collaborative and ensures that all stakeholders—from Owners to Captains—remain fully informed. Our software-driven approach reduces errors, enhances accountability, and supports compliance with regulatory requirements, making it a vital tool in maintaining financial clarity on board. -
World Wide Petty Cash Transfers
JMS Yachting understands that global yacht operations often require access to flexible funding. That’s why we provide secure worldwide petty cash transfers in any currency, sent directly from the yacht’s management account to the Captain whenever needed. This ensures that Captains can handle small but essential operational expenses quickly, without compromising efficiency. By streamlining petty cash systems, we reduce delays and eliminate the risk of financial bottlenecks. This flexibility is another vital aspect of yacht financial management, ensuring that operational needs are always supported, no matter where the yacht is located.
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Crew Payroll
Managing payroll for yacht crew requires precision, confidentiality, and compliance with international regulations. JMS Yachting oversees the entire payroll process, calculating salaries, holiday pay, cash advances, and reimbursable expenses in close collaboration with the Captain. To safeguard Owners and ensure compliance with social security obligations, we recommend using an offshore employment company, which JMS Yachting can arrange as a dedicated service. Crew payroll is a cornerstone of yacht financial management, and our team ensures that payments are made accurately, on time, and in compliance with global employment standards. This fosters crew satisfaction, stability, and professional trust while protecting the Owner from potential liabilities. -
Budget Management
Effective budgeting is at the heart of yacht financial management. JMS Yachting works with Owners and Captains to create customised annual budgets that reflect the yacht’s operational profile and cash-flow requirements. Once approved, we continuously monitor budgets against actual expenses, providing detailed monthly variance reports. This proactive approach prevents overspending, highlights potential savings, and ensures long-term financial efficiency. Our annual budget reviews also give Owners a clear understanding of overall yacht performance, helping them make informed financial decisions for the future. With JMS Yachting, financial planning is not only accurate but also dynamic—adapting to the evolving needs of yacht ownership. -
Crew Credit Cards
To simplify financial operations on board, JMS Yachting offers credit or debit card facilities for Captains and crew. These accounts are carefully monitored with monthly audits, and reconciliations are completed against original receipts for full accountability. For credit cards, funds equal to the limit are secured in escrow to ensure responsible spending. This controlled system streamlines expense management and supports smoother day-to-day yacht operations. As part of yacht financial management, it gives both Owners and Captains peace of mind, knowing that every transaction is verified and accounted for. -
Reporting
Transparency is at the core of JMS Yachting services. At the end of each month, Owners receive detailed financial reports outlining expenditure and comparing actual spending against the approved budget. This ensures that all parties remain informed and allows for quick action if discrepancies arise. An annual review further strengthens compliance, and independent audits can be arranged on request. Captains also benefit from training in JMS Yachting accounting methods, enabling them to provide accurate and timely reporting. This ensures that yacht financial management is consistent, professional, and fully aligned with best practices. -
Verification and Payment of Invoices
JMS Yachting verifies every invoice for accuracy, validity, and compliance before authorising payment. This meticulous process prevents errors, overcharging, or duplicate payments and guarantees that records remain transparent and accurate. By maintaining a fully auditable financial trail, Owners gain confidence that their yacht’s accounts are managed with integrity. This attention to detail completes the full cycle of yacht financial management, ensuring that from budget creation to invoice settlement, every stage is handled with accountability and precision.
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