- Danaos Financial Suite

HomeMaritime Software Solutions– Danaos Financial Suite

Maritime ERPDanaos Financial Suite as a Maritime ERP encompasses a family of applications that automates and streamlines all your financial maritime business processes.

Danaos Financial Suite is a web-enabled Solution specifically designed for the shipping industry.

Shipping, is a capital intensive Asset Management Venture, with specific requirements regarding the automation of the accounting processes in order to ensure an seamless flow of critical financial data across departments.
Designed as a multi-Company, multi-Group and multi-Currency Accounting shipping solution, Danaos Financial Suite provides advanced Reporting functionalities, enabling consolidation throughout all corporate levels.
Essential for Ship Managers, Ship Owners, Accountants, Ship Holding Groups, Ship Operators, Agents, Bunker TradersShip Brokers, Charterers.
Danaos Financial Suite as an integral part of DANAOS WEB ENTERPRISE SUITE applications  that includes: Payments, Budgeting, Master General Account (MGA), Supply & Commercial Package (Operation, Freight, Port Expenses, XE Rates  and Bunkers).


Financial Suite Modules

  • Marine Accounting & MIS
  • Marine Accounting MISMarine Accounting Module is designed for the shipping industry. The system further supports Voyage Accounting and Analysis, Running Cost Reporting as well as Cash Flow Analysis (including accruals). Fully integrated with invoice approval workflows. Marine Accounting Module aligns with GAAP Standards and SARBANES-OXLEY ACT OF 2002 – SOX.

     

     

    Marine AccountingMarine Accounting and MIS is a core Financial Suite Application’s Module that automates all accounting processes and ensures an intelligible flow of credible information between departments. Novel architecture enables dynamic Chart of Accounts definition.
     
     

     Features include:
    • > Monitoring journals between more than one open financial periods.
    • > Compatible with SOX Act.
    • > The data entry screens, the report parameters, and the user defined reporting provide the user with maximum flexibility.
    • > Security system with user defined roles and tasks, ensures access rights for selected users.
    • > User Defined Chart of Accounts and ability of reorganization of accounts according to the needs of the company.
    • > User Defined Chart Types for further Analysis of COA.
    • > All available reports can be exported to Microsoft Excel.
    • > Voyage Accounting data entry and reporting is fully supported.
    • > Automatic calculation of Exchange Rates Differences and Revaluation (Translation Cost).
    • > Automatic creation of Inter-company Transactions.
    • > Automatic Calculation of Prepayments between more than one financial periods based on the allocation period of running expenses.
    • > Ability to scan or attach all types of documents on transactions.
    • > Breakdown of Running Expenses (Accruals) based on the allocation periods.
    • > Automatic Closing – Opening of financial period (ability of reverse procedure is available).
    • > Fiscal Year End Closing entry per vessel/company is automatically created.
  • Budgeting System
  • BudgetingBudgeting Module is a multi scenario investments, multi-fiscal years and operational budgeting system (voyages, COAs, projects, etc.). Efficient forecasting based on historical data. Core Financial Suite’s Application Module specifically designed for the Accounting Department of a modern Shipping company.

     

    Designed to support all financial calculations allowing the user to budget : Running Costs, Income-Expenses, Financing Costs, Credit Line, Voyage Budgeting, etc. Consolidated budgeting for a group of projects or group of companies and historical accounting data are included in the system.
  • Payments Module
  • PaymentsPayments Module facilitates the planning of transactions such as:
    > payables/receivables,
    > partial payments,
    > bank transfers, supporting a wide range of e-banking systems (major Shipping Banks).
    > Remittances 
    The Payments Module is a core Financial Suite’s Application specifically designed for the Accounting Department. Supports Multiple banks for each Creditor/Currency. Automatically creates Accounting Entry. Automatically creates Remittance Advice Bank letter, Remittance Letter, Check etc. Payments module can be customised to meet specifically your company format.
    Reports: Outstanding per creditor, outstandings per currency and creditor, list of outstanding items.