This Module is designed to handle the Accounting of YOU as a Vacation Rental Manager, to help you save time and reduce human errors.
It is important to know that the Accounting Module is adaptable to any type of business. No matter how you operate, we can help you find the way to fit your needs.
The system is built on three basic concepts: Recipients, Accounting Statements, and Payments.
1. The Recipients are every person and/or company that should earn money from any given Reservation/Service/Fee. You will need to create a Strategy for each one of them to indicate to the system how much each of them receives from the earnings of each of the Rentals. This is a one time set-up.
Main things to keep in mind:
The Strategy for the Team Owner of this account (typically the Rental Manager or Agency) should be the DEFAULT Recipient, as it’s typically the only person/company that will earn money from all Rentals and Reservations managed within this account.
Every other person shall have a Strategy based on the EXCEPTIONS, as they will not be earning money from every Reservation/Service/Fee by default.
The Booking Platforms’ Commissions will be separated automatically (as long as the Channel Manager provides the amount charged by the Platform to Rental Ninja), and it will be automatically extracted from the Rental Price’s value. In this case, the Strategies will be applied on the Rental Price earnings, excluding the Booking Platform’s Commissions (eg. Booking.com & Airbnb).
2. Once the Strategies will be set up, you’ll choose the periodicity you’ll want to account your bookings, decide whether you’ll group them per owner, per location, or do a statement for each rental individually, and simply create the Statements with the periodicity needed in each case.
3. Once the Statements are created, you’ll take the last step: Create a Payout/Payment for each Recipient. Here is when the Strategies you’ll have created for each recipient will apply.
Any extras can be added manually into the Payouts before saving them.
Keep in mind that extras are not stated in any reservation, and therefore any extra “earned” by a Recipient will need to be “paid” by another Recipient in order to balance out the amounts.