Our Services

• Yacht Accounting and Bookkeeping

JMS offers yacht financial management with full transparency and 24/7 account access. Our system eases bookkeeping for Owners and Captains while ensuring high standards, with regular financial reports provided.

• Set Up and Maintain Client Bank Accounts

JMS can open and manage client accounts in any currency, ensuring funds are disbursed to the yacht and creditors accurately and on time. Accounts are kept in credit at all times in line with the agreed budget.

• On Board Accounting Software and Training

JMS uses advanced accounting software for accurate, efficient financial management, accessible to the crew, JMS, accountants, and the bank with secure access levels. Captains receive full training to view real-time accounts, and Owners or their teams are offered 24/7 access for total transparency.

• World Wide Petty Cash Transfers

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

• Crew Payroll

JMS manages crew salary payments, calculating with the Captain’s input for cash advances, holiday pay, and expenses. To protect the Owner and ensure social security compliance, we recommend using an offshore employment company, which JMS can arrange as a separate service.

• Budget Management

JMS works with Owners and Captains to create tailor-made annual budgets, including cash-flow projections and operational profiles. Once approved, budgets are monitored against actual expenses, with detailed monthly reports provided.

• Crew Credit Cards

JMS can provide credit or debit cards to Captains and crew, with accounts monitored via monthly audits and reconciled using original receipts. For credit cards, funds matching the limit are held in escrow.

• Reporting

At month-end, JMS provides Owners with detailed reports showing expenditure and comparisons against the set budget. An annual review ensures compliance, with audits available if required. We also offer Captain training on JMS accounting methods to support accurate and timely reporting.

• Verification and Payment of Invoices

JMS verifies all invoices for accuracy and compliance before authorising payment to ensure transparent records. This supports efficient yacht financial management.