I desperately need some help!
Answered
Accounting Help Please!
+1Best answer by Brandon Huetteman
Hi
Thanks for reaching out with this, and I definitely can understand how confusing this can be. Whether you are using our QuickBooks integration or just trying to reconcile reservations against payouts, I suggest the same approach.
I find it helpful to utilize the financial data being provided from the platform that is acting as the Merchant of Record — the ones who are processing the payments from guests and paying the host out. They are going to be the source of truth because they are the actual ones to manage the payment flow from beginning to end. This data helps to match which payouts and reservations match.
Personally, I will use the Transaction Report from Airbnb, the Bank Deposits Report from VRBO, or the Payments and Payouts Data for Hospitable — these would be for whoever is the Merchant of Record. It breaks down the reservations that the payouts apply to, as well as if there were adjustments taken out of the payout for bookings in the past that payments have already been processed for such as resolution adjustments, etc. This allows you to easily reconcile which reservations are included in the bulk payouts. You can use Metrics from Hospitable, however given we do not receive the payment processing data, it would be a bit more tricky to attempt to match reservations with payouts if you have many at a given time.
- Hospitable Team Member
- Answer
Hi
Thanks for reaching out with this, and I definitely can understand how confusing this can be. Whether you are using our QuickBooks integration or just trying to reconcile reservations against payouts, I suggest the same approach.
I find it helpful to utilize the financial data being provided from the platform that is acting as the Merchant of Record — the ones who are processing the payments from guests and paying the host out. They are going to be the source of truth because they are the actual ones to manage the payment flow from beginning to end. This data helps to match which payouts and reservations match.
Personally, I will use the Transaction Report from Airbnb, the Bank Deposits Report from VRBO, or the Payments and Payouts Data for Hospitable — these would be for whoever is the Merchant of Record. It breaks down the reservations that the payouts apply to, as well as if there were adjustments taken out of the payout for bookings in the past that payments have already been processed for such as resolution adjustments, etc. This allows you to easily reconcile which reservations are included in the bulk payouts. You can use Metrics from Hospitable, however given we do not receive the payment processing data, it would be a bit more tricky to attempt to match reservations with payouts if you have many at a given time.
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