Compas Onboard Module: Onboarding Training for Master General Account Cash Flow

Introduction

This professional training video provides a comprehensive guide to managing the Master General Account cash flow section within the Compass software. It details how to record and manage vessel cash funds, including creating transactions like bulk crew cash advances and other cash payments. The video also covers receiving cash, performing currency exchanges, and managing associated documentation.

This training video Audio and subtitles is available in Mandarin, Japanese, Korean, and Greek. To change the audio language, click the cogwheel icon.

Welcome to the Onboard Module Master General Account training video. This video provides an overview of the Master General Account cash flow section within Compas.

Master General Account has four subsections: cash flow, currency rates, welfare account, and cash to master requests.

Clicking on cash flow, the page provides an overview of the cash flow transactions for the month. This is also where the master records and manages the vessel's cash fund. To create a cash flow transaction, the master can click on the icon bulk pay cash advance, pay cash, receive cash, and forex.

Bulk pay cash advance is being used to record the cash advances of crew in bulk, and this will be added per currency and where cash for the selected currency is available. As the master clicks on the icon bulk pay cash advance, the window for add cash advance pops out.

Master selects the date, adds remarks, and selects the currency. Only currencies with available cash are shown on the drop-down list. Select the crew and add the cash advance amount. If the cash paid is in another currency, system will convert this amount to the crew's contract currency based on existing currency rate on the system.

Master clicks save, then close to save the cash advance transaction.

For all cash advance transactions saved, the system updates the cash flow page. In the cash receipt column, when master clicks the icon, system generates the cash payment file for the selected transaction.

 In the cash flow page, pay cash is being used to record the payments made from the cash flow account. Master must take note that pay cash is only allowed when cash for the selected transaction currency is enough to cover the payment.

Pay cash can be used to record payment for various categories such as cash advance to specific crew, transfer to welfare account, and cash payment to several vessel expenses, including but not limited to garbage disposals and purchase of vessels, tools, and parts. To add a crew cash advance, master clicks the icon for pay cash and the window for cash payment pops out.

Master selects the date, selects the category as cash advance, select the crew name and add any applicable remarks. Master also adds the cash advance amount paid to the crew, selects the currency from the drop-down list on the currency field. The currency drop-down list shows only currencies with available cash.

If the cash advance is in another currency, system automatically converts this amount to the crew's contract currency per the existing currency rate on the system. The field for estimated earnings as of today refers to the crew's earnings from the first of the current month up to the current date. Master clicks save to save the cash advance payment. This will generate the cash payment voucher, which the master can download and save.

When adding cash payment for other categories, such as for purchase of deck supplies, master clicks the icon for pay cash, and the window for cash payment pops out. Master selects the cash payment date, the expense category, adds applicable remarks. Master also adds the cash amount paid, adds the vendor, then selects the cash currency from the drop-down list. The currency drop-down list shows only currencies with available cash.

Master clicks save to save the cash payment, and the file cash payment voucher pops out. Master can download the document and once signed, can upload same on the system. The remarks icon shows the remarks of the transaction.

Clicking the cash receipt icon shows the cash payment voucher file.

The receive cash is being used to record the cash received by the master in the cash flow account. Receive cash can be used to record various categories such as cash to master or CTM, cash from crew, transfer from the welfare account, or cash received from other sources.

 To add or receive cash transaction, master clicks the icon for receive cash and the window for receive cash pops out. Master selects the cash receipt date, selects the category, adds the vendor, and adds any applicable remarks. Master also adds the cash received amount and selects the currency from the drop-down list.

Master clicks save to save the cash received, which will generate the cash received file.

The forex functionality in the cash flow page refers to the forex exchange where the master exchanges the cash from one currency to another currency. The recording of this conversion can be made on the cash flow. To add a forex transaction, master clicks the icon for forex, and the window for forex pops out Master selects the date.

Vendor. Add the remarks. On the field paid, master enters the amount. Currency paid to the vendor for exchange. While on the field received, enters the amount and currency received in exchange from the vendor. System provides the exchange rate used during the exchange based on the cash paid and received by the master. Master clicks save to save the forex currency exchanged. When saved, system shows the forex transactions for currency received and currency paid. To modify the cash flow entry, master clicks on the edit icon, edit the details, and save.

 To upload a document, master clicks the upload icon and either drags or browses the file to upload.

To view the document, click the view document icon. And clicks the icon delete to delete the entry. System will show a notification message for the cash advances created on the cash flow section. To add these on the crew payroll, master must go to the payroll section. Click wage variables. Master must verify if the cash advances saved on the cash flow screen are shown on the wage variable screen. If shown, master clicks on the button save for system to save the cash advances on the payroll wage variables of crew. At the end of the month, when all cash flow transactions are recorded, the master must close the cash flow for the month. Master clicks on cash flow.

 After verifying the transactions, master clicks the button close month. At the top of the screen, the status of the cash flow will be shown as closed. This is the end of the process for cash flow.

Thank you for watching.