It's important to know what happens to payments and refunds after they are deposited in your bank account. OwnerRez has developed solutions for you to determine your deposit, payment and refund statuses.
Deposit Status on Payments and Refunds
In the Transactions section of each booking, you will note the "Deposited" field.
These fields have been added to show you whether a payment or refund has been deposited to your bank account or not. After all, just because you've been paid by the guest doesn't mean you've actually gotten the money yet. In some cases, like Airbnb bookings, it may be several months before a payment is actually deposited.
When a payment or refund is gathered up in a deposit, the "Deposited" field will show the date of the deposit with a link you can use to click over to the deposit record.
In this example, the American Express payment was deposited on September 27th, and if we drill into that link, it will open the entire deposit record detailing the other transactions, fees, and adjustments that were part of the same deposit.
This should give you an indicator of whether the payment or refund has actually deposited into your bank account versus still waiting for the bank or channel.
Wondering how to search for deposited or undeposited payments across the system? You can do that too. Check out the section below about finding and filtering deposits which includes information about filtering bookings and using reports.
Finding and Filtering Deposits
As your list of deposits builds, it's important that you know how to field and filter them to deal with your accounting.
To aid with that, the main Deposits list now includes a number of helpful filters allowing you to search against nearly every aspect of the deposit - items that are included, amounts, dates, statuses, etc.
Through the adoption of deposits throughout the system, we have added filters and reporting in many other places as well. You can search for bookings based on deposited status. Wondering which bookings have payments that haven't been deposited yet? You can do that. Go to the main Bookings list view and click the Filters button on the left side. You'll see a new Deposit Status option with four statuses to choose from.
Those statuses are:
- Fully Deposited - the booking has payments or refunds, and all of them are fully deposited.
- No Transactions - the booking has no payment or refunds, so deposits are relevant.
- Not Recorded - the booking has payments or refunds, but no deposits have been recorded yet whatsoever.
- Partially Deposited - the booking has at least one deposited transaction but there are other payments or refunds on the booking that are still not deposited.
These four statuses are mutually exclusive, meaning that a booking can only be in one of these statuses at a time. If a booking has no payments or refunds, it would not come up under the Fully Deposited status. Its status would be "No Transactions". Likewise, the "No Recorded" status only applies if there are actual transactions on the booking but no deposits.
You can also search for payments directly based on their deposited status by going to Reports > Summary Reports > Payments. In the Payment Detail Report there is a new Deposited filter in the top list of filters.
This filter will return payments that are part of a specific deposit or merely "marked as deposited".
There is also a new Deposits Summary Report in the reports area. Pick a period and grouping level, and it will show you your aggregate totals for that group level (eg. month).