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North American Beta: New Ledger Reporting & Trial Balance Reconciliation

Hey North American community 👋

 

We are super excited to invite you to the Beta Pilot program for our standalone Deposit, Guest, and City Ledger Reports, plus Trial Balance Reconciliations! 

 

We know how important it is for our ledger system to align with industry standards and to make data reconciliation easy and efficient.  That’s why we are thrilled to introduce our new ledger reporting framework, which follows double-entry accounting principles and provides seamless data reconciliation through Trial Balance.

 

 

 

Benefits for You ✨

  • Instant Access to Ledger Balances: Get a clear overview of your assets and liabilities. 

  • Reservation-Centric Ledgers: Easily oversee the total reservation cost and pending payments, ensuring no revenue goes unpaid. 

  • Clear Payment Identification: Know whether payments are for the current or future stay, aiding in cash flow forecasting. 

  • Time Efficiency: Minimise daily time spent on data reconciliation. 

  • Fast and Accurate Data: Make informed business decisions with up-to-date information. 

 

How to Participate 🙋🏾

  • Customers in North America: Please share your property name in the comments to this thread. We will start enabling  Beta in your Live environment in July. Meanwhile, you can familiarise yourself with the Beta pack, which will guide you on how to use the new features.

  • Customers in Other Locations: Stay tuned! Following successful testing in North America, we will extend the Beta to other regions.

 

We have ambitious plans for further improvements, but we need your feedback to make them even better. Let's create the future of ledgers together! ✨

 

Have a look at the Demo walkthrough video 👈🏻

 

Pease ask any questions or share any feedback in this thread 

Hi Joanna,

 

Thank you so much for having this beta for the Ledger Reports.  I met with our Accounting Team and we came up with some initial notes for you:

 

1) Deposit Ledger
* More of a Mews functionality note rather than a Deposit Ledger issue, but we need to be able to have companies have payment methods so we can show the company not the customer associated with it for all the reservations bills owned by that group/company.  we end up with a lot of profiles on the Deposit Ledger, or Accounting Ledger for that matter, with one guest’s profile name rather than the company paying for the rooms as we cannot associate a credit card payment method with a company.  our work around right now is to create customer profiles for the companies to “house” the payment method if it’s a company credit card, but I don’t think that is the spirit of the functionality of having companies and customer profiles.

* Arrival/Departure Dates are not populating for all accounts on the Deposit Ledger.  assuming this has to do with accounts that have more than one stay associated with it.

2) City Ledger
* Would like to see linking to the billing for the account, similar to the Deposit and Guest Ledger
 

* Wil not a critical ask, whould be great to have the options to show the balances in the traditional Current - 30 -60 -90 - 120 column formats for the timeframe due.  this is not only visually helpful, but can provide totals as well for quick reporting

4) Trial Balance
* Need full detail of the Accounting Report, plus the net change of the ledgers (Deposit/Guest/City).  this is so a full daily journal entry  could be generated from the Trial Balance.  the other way this could be accomplished is to provide the net change numbers for the 3 ledgers at the bottom of the Accounting Report

 * Not clear on what the Balance Brought Forward number represents?

* Assuming we can only see the day before yesterday's trial balance file becuase of our 1 day editable accounting history window, correct?


*Need webhook-automation similar to other reports so we can automatically pull that data to our data base from the Trial Balance.

I hope this feedback is useful, and please reach out if you would like to discuss anything further.

 

Thanks - 

Robin Koetje

Staypineapple Hotels

 

Hi Robin

 

Many thanks for testing and such a thorough feedback, highly appreciated!

Please see my comments below:

  1. Deposit ledger
    1. Good news: We plan to add the options for Companies to use Credit Card payments by the end of this year.
    2. Arrival-departure are not populated if the payment is not linked to any reservation. We currently do not support ability to link one payment to multiple reservations, this will be covered early next year.
      1. Question: Can you explain  more in which scenarios you have payment on a profile that has multiple stays that the payment would need to cover? We want to better understand the use cases to be solved.
  2. City ledger
    1. We are working to add these links as we speak -  will be available somewhere next week.
    2. We will be adding the aging breakdown into the final version of City ledger that we plan to deliver towards end of this year.
      1. Question: Are you interested in the aging breakdown for  per company/owner or also for individual invoices? We are currently exploring various options, I attach the designs below- any feedback welcomed.
  3. Trial balance
    1. Net change - we are now implementing the calculation of net change for Deposit, Guest and City ledgers, which would be the difference between Closing and Opening balance - mock below. This should be ready early next week - please let us know if this is what you meant.
    2. Towards the end of the year we are building the final version of Trial Balance, that will break down Revenue and Payment balances by Accounting category - I attach design below. 
      1. Question: Is summary per accounting category enough, or would you want to see all transactions? Our idea is to give to input a link from Trial balance that would lead you to Accounting report detailed view filtered by the relevant period
      2. Question: We are considering breaking down the amounts in Trial Balance into Debit and Credit columns, so that it is easy to validate that total of debits = total of credits. Would you consider it useful or would you rather have one Amount column with + or - amounts.
    3. Correct, Trial Balance is only generated at the end of the Operational Editable History Window, as it is this window that allows for amending past reservations / late check-ins. Aim is to only generate it once the data is immutable.
      1. Question: Would you see a value in seeing Trial Balance calculation prior to OEHW completion, even thought the data could have change?
      2. Question: Would you ever need any other time period for Trial Balance than daily, and if yes, what would be the reason?
    4. Trial balance data is available via API - here is the link to documentation. Would that suffice?

 

It’s been quite a long post  😅 

I hope it answers your questions.   I will be off for next 2 weeks but if you would like to share your feedback on the designs for the final solution for ledgers or Trial balance, please post them here, or  feel free to reach out to our designer  [email protected] so she could schedule a call to show you more of the designs and gather feedback face to face. Thank you!

 

Joanna

 

 

 

City ledger: Invoices grouped by owner
Invoice details
Pilot Trial Balance report: Adding net variance difference for ledger balances
Trial Balance: Expanded Payments & revenue sections
Trial Balance: Expanded ledger sections

 

Hi, 

Could you please add our property, Les Lofts Vieux-Québec in Quebec City. 

Thank you !

Enabled :)

Hello, It seems that we do not have the feature anymore, can you check ?
Thanks,
Julie

Hi, 

Could you please add our property, Les Lofts Vieux-Québec in Quebec City. 

Thank you !

Enabled :)

Hello, It seems that we do not have the feature anymore, can you check ?
Thanks,
Julie

 Hi @JulieLVQ , we have now enabled you the feature! If you have any feedback, please share here or e-mail me directly at [email protected] :) thank you!

Hello would definitely like to be part of this . The current system on mews is a manager flaw as its really default to track when people owe us money and has resulted a couple of times staff missing taking payment for rooms and one of the reason we signed up for booking.com payments as cheaper and payments dont get missed.

Hello would definitely like to be part of this . The current system on mews is a manager flaw as its really default to track when people owe us money and has resulted a couple of times staff missing taking payment for rooms and one of the reason we signed up for booking.com payments as cheaper and payments dont get missed.

 

Hey, thank you for joining the Beta! We will enable you these features in your Live environment later today or on Monday. This post contains the user guides and the walk through video of the solution. Looking forward to hearing your feedback 😀

Hey everyone 👋🏻 

 

Many thanks to all of you for taking part in Beta and sharing your feedback, it is extremely valuable to us.

 

Based on your insights, I would like to share what updates we have done  so far and what changes we plan to deliver within next 2 months:

 

Changes already introduced

  • Trial Balance: For each ledger, we now calculate the net difference between opening and closing balances
Net variance calculated for each ledger balance



 
  • We export Trial Balance to both Excel and PDF, to satisfy auditors requirements for immutable data source
Trial balance export now available in both Excel and PDF

 

 

Changes coming in Autumn

  • More granular Trial balance information
    • We will breakdown the Payments and Revenue information by the accounting category, to provide more granular data for reconciliation
    • We will also break down ledger movements into Debits and Credits movements (see example below)

 

More granular data breakdown in Trial balance

 

 

 

  • We will provide data snapshot of each ledger details at the EOD and include it in the same file download as Trial balance (in both Excel and PDF formats)

 

Trial Balance file will have additional tabs where each ledger data will be presented in their EOD state

 

Really curious to hear your feedback on the proposed changes, please comment here or if you would want to have a chat with us, reach out at [email protected]

 

Please note: We are gradually working toward further improvements to the new ledger solution. Our goal is to enable real-time ledgers, with the ability to view historical data directly within ledger reports by selecting a past date, instead of referring to file exports, among many other improvements. I’ve shared some designs in previous posts—stay tuned for more updates!

 

 

 

I’m happy to volunteer our property: Mari Jean Hotel in St. Petersburg, Florida.

I’m happy to volunteer our property: Mari Jean Hotel in St. Petersburg, Florida.

 

Hi David,

We have now enabled you the ledgers reporting in your Live environment! Please reach out if you have any questions or feedback :)

 

Have a great day,

 

Joanna

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