Finance Management

Edmiston Yacht Management knows the importance of careful and transparent financial management of every aspect of modern yachting. Our dedicated accounting team works closely with the owner, the yacht manager and the captain to ensure careful budgeting and accurate accounting is implemented and maintained on board at all times.

Financial Management Overview

As soon as a yacht subscribes to financial management, we undertake to:

• Prepare and implement operational budgets and review annually
• Establish, maintain and monitor yacht accounts, monthly and annually
• Prepare monthly accounts for presentation to the owner / owner’s representative
• Prepare and present financial audits detailing actual expenditure against budgeted expenditure
• Coordinate the acquisition of funds
• Organise and monitor payment of all creditors and suppliers, crew payroll and expenses – on time and within budget
• Maintain arrangements with tax authorities to obtain VAT-free purchases where possible, and maintain VAT records
• Provide introductions to reliable and reputable suppliers to ensure the most competitive prices and quotes
• Arrange competitive quotations for insurance cover, liaise with brokers and underwriters and administer renewals and claims