3.) Configuring VRAccountant: Channels

Step 3: Configuring VRAccountant: Channels

Map the reservation channels from your property management software (PMS) to customer types in QuickBooks® Online; designate which QuickBooks Online account is used to record payouts from each channel

Map the reservation channels in your PMS to customer types in QuickBooks Online

What's the mapping do? (PMS to customer types in QuickBooks Online)

VRAccountant retrieves each reservation channel from your PMS and each customer type from QuickBooks Online. When VRAccountant creates a customer record for your guest in QuickBooks Online, it will assign the customer type selected here based on the channel your guest booked through.

Customer types can be used to filter QuickBooks Online financial reports, allowing you to review transactional activity or financial performance by channel.

Steps (PMS to customer types in QuickBooks Online)

For each reservation channel listed, select the corresponding customer type from the dropdown list.

Don't see a customer type listed? Follow these steps to add it.

Then,

Return to the onboarding wizard.
Select Save at the bottom of the page.
Select Workflow Configurator to return to the onboarding wizard and see your updates listed.

Map the reservation channels in your PMS to payment accounts in QuickBooks Online

What's the mapping do? (PMS to payment accounts in QuickBooks Online)

VRAccountant records a receive payment against an invoice in QuickBooks Online whenever a payment is recorded against a reservation in Guesty.

Because different channels deposit guest payments to your bank account in different ways, depending on who's acting as the merchant of record, you have the flexibility to decide which account VRAccountant posts those payments to, by channel.

The accounts mapped here play a key role in facilitating a clean and easy bank reconciliation.

Steps (PMS to payment accounts in QuickBooks Online)

Optimize the VRAccountant workflow for deposit reconciliations by following these steps:

If you're using VRAccountant's Stripe+QuickBooks Online integration, select Stripe Deposits Clearing Account for all channels where you use Stripe to collect guest payments.
Select Airbnb Deposits Clearing Account for each instance of Airbnb listed. NOTE: You may see multiple Airbnb instances listed depending on the number of Airbnb accounts you've connected to your PMS.
For all other channels/PMS integrations, or if you're not using the Stripe+QuickBooks Online integration, select Undeposited Funds.

Don't see the Undeposited Funds or Stripe Deposits Clearing or Airbnb Deposits Clearing accounts listed? Ensure you've added them to your QuickBooks Online chart of accounts, and that the account type is set to Other Current Assets.