Built by owners, for owners.
Replies: 5 - Pages: 1 - Last Reply: Jun 15, 2019 10:30 AM by: JTVRs
Kismet Propertie
Registered: 9/27/18
Financials

Would love to see an operating report for the month and YTD showing an owner revenues minus expenses in a summary format.

Chris Hynes
Registered: 10/19/12
Re: Financials

Is this for you or for owners? For you, the booking summary report gets close -- you can run one for Owner Amount on the summary field, but it doesn't subtract expenses because the expense charge date may be different than the recorded date.

There is also a new Owner Dashboard option you can grant access to in the Portal area for owners -- that shows revenue and occupancy by month.

Perhaps that owner dashboard should also have a line to show the owner statement booking/expense/total amount? That's really the only source of truth for what an owner actually will see -- but it's only good in arrears because future bookings/expenses won't be on statements yet.

JTVRs
Registered: 6/25/18
Re: Financials

Related to this, a high concern is ensuring that the listing sites who won't work through Lynbrook properly pay for each booking at the correct time. Same goes for managing security deposits.

I'm not really familiar with the reports yet, is there a report I could run on a periodic basis to make sure that past or current bookings were properly paid to date?

Pennsylvania (Poconos) supposedly requires the listing sites to remit the taxes now, but there is a sales tax and hotel tax. I'm not really sure what I'm going to face from each of these for listing sites once taxes are actually supposed to be paid.

Chris Hynes
Registered: 10/19/12
Re: Financials

Yes, you can run the booking detail report and it'll show you the payment status for each one. You can also filter the booking List or Ribbon view by payment status.

JTVRs
Registered: 6/25/18
Re: Financials

I only have people with occasional complaints on other forums that they didn't get their payment from this or that OTA. So just want to stay on top of that, especially in the beginning. I suspect after a few months, it will be a lot smoother than I anticipate. Some of the OTA forums are filled with a lot of venting about how evil they are and how much they hate VR owners. I am trying to be more optimistic :)

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