In the Administrator plan, the finance module aims to assist with managing the forwarding of reservations to owners, and financial reporting. Before you begin with this article, you can check out all the available features in the finance module for the Administrator plan.
To manage the forwarding of reservations to owners, it's necessary to adjust some settings and learn the routines sequentially. Therefore, we recommend following the steps below for one or two listings to get some practice.
Step | Instructions | |
|---|---|---|
| 1 | Set your commission | To calculate the amount to be paid to owners, the first step is to set the details of your commission. To do that, access [Settings > Owners > Commission] and fill out the fields. |
| 2 | Learn the different forwarding statuses | When you start your reservation forwarding routine, you will have different statuses about activities. Learn what open forwarding, pending forwarding and finished forwarding means. |
| 3 | Manually forward a reservation | From the reservation page, you can check whether the amount to be paid to the owner is valid and post credit to their balance. |
| 4 | Check the owner's statements | From the [Owner Statements] screen, you can filter postings by period in order to calculate the final result to be paid to owners. Important: If you pay the owner's expenses to be refunded later, learn how to do it. |
| 5 | Reset your owner statements | The idea of [Owner Statements] is that periodically the owner's balance goes to zero, which indicates that you have paid the credits posted to the owner. To do this, just create an account payable from the "pay a bill on behalf of the owner" model in your accounts payable routine. |
| 6 | Manage your accounts payable and receivables | On the [Accounts Statements] panel, in addition to paying the amounts of forwarding to owners, you will be able to add other expenses of your business and check open receipts in your reservations, for example. |
| 7 | Follow general data on forwarding reservations | From the [Reservation Center > Find reservation] menu, you can generate a report with your past reservations and check some information there, such as the total commission you earned in the period or the total amount spent on commission for a channel, for example. |
| 8 | Enable the owners' extranet | Once you have mastered the forwarding routine, enable the extranet and provide your partners with an overview of pending receipts and the reservation calendar for the accommodations. |