- Transparency: Financials available to view at any time by owner, captain, management or other accredited parties with no downtime spent waiting for accountants to prepare reports.
- Trust: Experienced accountants available around the clock.
- Time: Shaves time off yacht administration, with an overall reduction of 60% time (everything online) and 40% costs.
A groundbreaking superyacht accounting firm is using custom-built software in order to streamline superyacht bookkeeping. Avaletta has been launched in order to bring a much-needed modern approach to superyacht accounting.
Quick and simple to use, and with offices in Amsterdam, Fort Lauderdale, Valetta and Auckland, Avaletta offers an all-digital bookkeeping solution, 24/7 strategic insight into the yacht’s accounts and around the clock expert advice.
Built in response to yachts’ feedback that they spend too much time on paperwork, Avaletta allows captains to scan invoices, documents, purchase orders, payroll and other forms, uploading them directly to the yacht’s online portal. Owners and management companies can then login to see what’s happening across all sectors of the yacht’s financials as well as upload their own documents or download real-time reports.
Online billing, payroll tracking, project administration add to the functionality, while support from a team of accounts contributes proactive strategic insights on securing VAT-free purchases and meeting tax obligations, investment opportunities and budget forecasts.
It’s an innovative system which has been designed specifically for the yachting industry to be simple, transparent and cost-effective. Clients have one point of contact for the yacht’s financial affairs and paperwork is eliminated as invoices and receipts are uploaded via scan, email, or the smartphone app. All data is securely protected to a high level of encryption – greater than that of most banks – and stored in a cloud-based digital archive.
The system is available to use offline and the accounts are always available for easy viewing via the smartphone app, meaning an owner can check on the financial position of their yacht from anywhere in the world.
Avaletta’s software checks all submitted documents and recognises any double records. It can also be connected to external solutions such as collection software and web apps. Though an all-digital solution, Avaletta still provides a very personal approach with in-person meetings and a service that responds to each yacht’s individual requirements.