Yacht owner sitting on sundeck with tablet in hand

Comprehensive yacht accounting, financial management, and support

Effortless Financial Navigation

Rest assured that every financial detail is handled with precision through Fairport Global.

Effective financial control is integral to any successful yacht program and essential to providing owners with the transparency and confidence they expect. Fairport Global provides comprehensive financial and accounting support, combining experienced yacht accountants with industry-renowned online accounting platforms that make financial management seamless both onboard and shoreside.

From budgets and cash flow to supplier payments, payroll, tax administration, charter funds, and detailed reporting, our dedicated team keeps your yacht’s finances organized, transparent, and aligned with your operational priorities.

Embark on a seamless yacht ownership journey with Fairport Global, where every financial detail is carefully managed, and every decision is supported by accurate, timely information.

Your Financial Partner, Every Step of the Way

Our Yacht Accounts service provides a dedicated Yacht Accounts Manager who oversees the day-to-day financial administration of your vessel.

From setting up vessel bank accounts and arranging debit cards to processing invoices, managing periodic funds requests, reconciling accounts, and monitoring expenditure against budget, our team ensures funds are available when needed while maintaining strong financial oversight.

Vessel Account Setup

Dedicated bank accounts are established for each individual vessel, providing a clear and controlled financial structure.

Periodic Funds Requests

Funds requests are prepared in line with the approved budget and issued in a timely manner to ensure the yacht has access to the funds it requires.

Bookkeeping

Accurate and consistent bookkeeping keeps your financial records shipshape, transparent, and ready for review.

Debit Cards for Captains & Crew

Operational and APA pre-paid debit cards can be issued to support onboard expenditure and simplify expense management.

Invoice Payments

Supplier invoices are verified and settled promptly, helping maintain strong supplier relationships and positioning your yacht as a reliable and valued client.

Priority Status at Ports

Timely payments help build strong relationships with ports and marinas, supporting smoother logistics and, where available, priority status for our managed vessels.

Budgets & Cash Flow

Working closely with the captain or owner’s representative, Fairport Global develops realistic operational budgets and cash-flow forecasts while monitoring expenditure against approved budgets. Dedicated vessel bank accounts, regular reconciliations, and crew debit cards ensure funds remain accessible with complete financial oversight.

Financial Oversight

Our structured accounting system categorizes every expense by department, providing clear cost allocation, accurate reporting, and greater transparency. Regular monitoring helps captains stay on budget while giving owners confidence in their yacht’s financial performance.

Clear Reporting. Better Decisions.

Our detailed financial reports provide complete visibility into your yacht’s financial health, with customizable reporting tailored to your preferred level of oversight.

Reports can include:

Actual vs. budgeted expenditure
Variance reporting
Year-to-date reporting
Cash-flow analysis
Balance sheets
Profit & loss statements
General ledger and bank reconciliations

Reports are typically delivered quarterly or at another agreed reporting interval.

Payments & Supplier Management

Supplier invoices are verified and paid securely and on time, with all transactions recorded within our accounting platform. Prompt payments help maintain strong supplier relationships while providing owners with complete transparency and a reliable audit trail.

Crew Payroll & Tax Administration

We support captains with payroll administration, international crew payments, social security obligations, medical insurance administration, and tax documentation. While we assist with tax return preparation, responsibility for individual tax returns remains with each crew member.

Month-End Accounting

Comprehensive month-end and annual financial reporting provides owners with clear insight into cash flow, budget performance, reconciliations, and overall financial position, supporting informed decision-making.

Charter Funds, APA & VAT

Fairport Global manages APA (Advance Provisioning Allowance) and charter VAT through dedicated accounts and payment methods, ensuring transparent tracking of charter-related expenditure. Following each charter, unused APA is returned to the charterer, while applicable VAT is transferred for settlement.

Quarterly & Annual Tax Returns

Using comprehensive financial reports and reconciliations, our team can assist with preparing quarterly and annual tax return information for review by the owner or owner’s representative, including support for commercially operated vessels where applicable.

Cutting-Edge Accounting Technology

We utilize leading accounting platforms that provide secure financial oversight, customizable approval workflows, and real-time visibility for owners, captains, and shoreside teams. Ongoing training ensures the platform is simple and effective for everyday use.

Frequently Asked Questions

How often is the owner updated on expenses?

Fairport Global provides regular accounting reports to the owner, typically at quarterly intervals or at another frequency mutually agreed upon.

Does the owner see all invoices and receipts?

Yes. Fairport Global provides invoices to the owner and maintains receipts for expenses incurred on behalf of the yacht. Transactions are recorded within the accounting system, allowing the owner to access and review financial information as required. Onboard accounts synchronize with shoreside accounts using standard accounting practices.

Whose responsibility are crew tax returns?

Fairport Global assists crew members with the preparation of their tax returns; however, responsibility for an individual’s tax return remains with the individual crew member.

What happens if the yacht is commercially registered?

Owners intending to charter their yachts will often choose to operate under a commercial registration and may select an offshore flag state.

Commercial registration and appropriate corporate structures can offer a range of operational, tax, and liability considerations. The benefits and requirements vary according to the yacht, jurisdiction, ownership structure, and intended use, so professional advice should be obtained for each individual situation.

What VAT applies when I charter out my yacht?

VAT treatment for yacht charters varies according to the applicable jurisdiction, yacht structure, and charter itinerary.

Generally, VAT may be chargeable on charter fees to the charterer, while the charter business may be able to recover certain VAT incurred in the course of its operations, subject to the relevant local rules and requirements.

Fairport Global can assist with the financial administration and reporting associated with charter VAT.

Financial Management You Can Rely On

From the first bank account setup to year-end reporting, Fairport Global provides the structure, technology, and expertise required to keep your yacht’s finances under control.

Precise accounting. Transparent reporting. Seamless administration.

With Fairport Global managing the details behind the scenes, owners and captains can focus on the yacht itself.

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