INT-ACCT-1.2.1

Cost Codes, the Ledger and the Golden Rule of Traceability

Explains the yacht chart of accounts and cost codes, how to split a mixed receipt correctly across codes, and how the audit trail runs from receipt to ledger to owner report. Reinforces the rule that unevidenced spend has no defence.

You come back from the supermarket with one receipt for EUR 412.60 in a single bag: guest fruit, crew pasta, and three bottles of galley degreaser. If you code the whole lot to guest provisions, the charter guest is unknowingly paying for the crew's spaghetti and the engine room's cleaning products. That is not a rounding error. That is a misallocation, and on a charter it is a fee dispute waiting to happen.

The Chart of Accounts

A chart of accounts is the yacht's agreed list of cost codes. The exact numbering is set by the management company, but the shape is familiar:

Code Account Typical owner
5100 Provisions — crew Chef / Chief Stew
5110 Provisions — guest Chef / Chief Stew
5120 Cellar and beverage Chief Stew
5200 Interior consumables and cleaning Chief Stew
5210 Guest supplies and amenities Chief Stew
5220 Flowers and decor Chief Stew
5230 Laundry and dry cleaning Chief Stew
5240 Uniform Chief Stew / Captain
6100 Deck consumables Bosun / Chief Officer
6200 Engineering spares Chief Engineer
6300 Fuel and lubricants Chief Engineer
6400 Dockage, port and agency fees Captain
7100 Crew wages and travel Captain / Management
8100 Charter guest costs (APA) Purser / Chief Stew

Splitting a Receipt — Worked Example

The EUR 412.60 supermarket receipt is split at the till line level:

Line group Amount (EUR) Code
Guest fruit, cheese, water 268.40 5110
Crew dry goods 118.20 5100
Galley degreaser 26.00 5200
Total 412.60

268.40 + 118.20 + 26.00 = 412.60. The split total must equal the receipt total exactly, every time. If it does not, you have mis-keyed something.

The Audit Trail

The trail is the unbroken chain from the moment of spend to the owner's report:

  • Receipt — the original document, photographed the same day.
  • Coded entry — date, vendor, amount, currency, code, who spent it, what for.
  • Ledger — the entry sits in the running record with a reference number.
  • Reconciliation — the entry is matched to the card statement or cash count.
  • Monthly report — the coded total reaches the captain and management.

Anyone should be able to start at the owner's report, pick a number, and walk backwards to a physical receipt in under two minutes.

The Golden Rule Restated

No receipt, no code, no entry — no defence. A spend you cannot evidence looks identical, in an audit, to a spend that never happened, and to money that was taken.

Onboard Notes

  • Write the code on the receipt in pen at the moment of purchase. You will not remember by Friday.
  • Ask the till for an itemised receipt, not the card slip. A card slip proves payment, not purchase.
  • Never code to "miscellaneous" to make the day end. A large miscellaneous line is the first thing an auditor opens.

Practice questions

5 questions
recallcore

recall · core

What is a chart of accounts, and name five cost codes typically owned by the interior department.

scenariocore

scenario · core

A single supermarket receipt totals EUR 412.60: EUR 268.40 of guest fruit, cheese and water, EUR 118.20 of crew dry goods and EUR 26.00 of galley degreaser. Show how you would code it and state the check you must apply.

recallcore

recall · core

List the links in the audit trail from the moment of spend to the owner's report.

oralstretch

oral · stretch

Why is a card slip not an acceptable substitute for an itemised receipt?

scenariostretch

scenario · stretch

At the end of a busy week you have EUR 640 of small spends that you cannot confidently allocate, and the monthly return is due tomorrow. A colleague suggests coding them all to miscellaneous to close the file. What do you do and why?

Independent study. xplor is not an IAMI- or PYA-accredited GUEST training provider. This course covers the ground assessed in GUEST Unit 21; it awards no GUEST unit, certificate or Certificate of Competency and does not count toward one. It is not tax, legal or accounting advice.

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