Accounting

Hi Community! 🙋🏼This article purpose’s is to discuss how best to filter through your Accounting Ledger to ensure you have the tools in hand to make the greatest use of it. ⚡ The Logic To use a report, it is always best to understand the logic behind the numbers. The information below is based on a report in mode Grouped and grouped by Owner The Detail Columns Open past revenue: Items c

Dear Community, 🙋🏻Today, we'd like to discuss a practice of closing bills before the arrival of guests and shed light on the challenges that can arise from this practice. 📄There are two distinct options depending on the legal environment regarding required deposits:Option 1 - Legal Environment with Required Deposits:In situations where deposits are mandated (usually for revenue and VAT reporting purposes), it is essential to close the payment against the deposit, rather than the entire bill. By doing so, the accommodation charges remain open, allowing for future updates and modifications to the reservation. If an automatic deposit settlement system is in place, the deposits will be posted, and the remaining positive balance will remain open until manually closed upon the guest's departure.Option 2 - Legal Environment without Required Deposits:In this scenario, where deposits are not necessary, there is no imme