Generally, one of the biggest problems boat owners and members encounter is tracking expenses and reconciling member payments. Hence, to keep a track record of the minor and major expenses associated with sharing a boat, Nautical Monkey has developed an expense tracker. As a renowned boat sharing management software, our expense tracking system allows you to record and allocate expenses as well as tracking member payments and income to the partnership.
With our expense manager from shared boat ownership software, you can easily track various expenses with your partnership. You can also designate who paid the expense and how the expense should be divided among your members. Expenses can be allocated to the single person, to all members based on ownership percentage, or to all members equally.
While enjoying the boat ride, nobody wants to worry about the money and its expenses. But with our expense tracker, tracking your finances is a simple way to get some freedom from this expense anxiety.
Now, you can easily add a new expense to your boat sharing management software. It also allows you to record who the expense was paid to, the category of the expense and who actually paid the expense. Moreover, the tracker automatically remembers commonly used vendors for quick entry in for the next time.
With shared boat ownership software, you can easily allocate an expense between your partners or members. You can allocate expenses to the person who paid the expense, based on owner or membership percentage or equal among all members notwithstanding their ownership percentage. Based on the option you choose, each member’s share is dynamically updated.
Expense tracker allows you to add member payments, late fees, and other income which could be shared among members.
It lets you generate custom reports according to a date range you select. Any report you generate, a running reconciliation amount is listed for everyone with the amount they owe each other.
Once the expenses are settled down and all the members get their share based on the report, reconciliation payments can be recorded in the system with zero amount owed between the members.
Make your boat sharing boat ownership experience smooth and hassle-free with our boat sharing management software.