Voyage Period Journal for TC IN hire.
5
votes
Voyage period journal for TC in hire should be posted only for the hire which is posted. If the hire is not posted, then it should be captured in normal voyage accruals. This will ensure that the prepayment is not negative.
In the next month, if the hire is posted, then voyage period journal should take the same into consideration for amortization to P & L. (voyage accruals are automatically reversed in the next month).