Holiday statements explained

Unlike normal owner statements and payments, where all moneys received is paid to the owner, the Holiday statements always ignore current balances, and only pay out to owners money that has been received from tenants who have a vacate date in the current month, even if the money was actually received months ago. Holiday statements/payments ignore money received where the tenants end date is outside of the date range selected. Current month's invoices reduce the amount to be paid.

Processing a normal Owner payment transaction against a holiday property is therefore a no-no as it will try to pay out all moneys in the account, including money for tenants booked for future occupation.

The holiday statement requires a date range to be entered – usually the whole calendar month. In order to ensure that all previous transactions have been accounted for, the opening balance for a Holiday statement is always an accumulation of all previous transactions for that property. This is to take into account possible transactions entered after a statement run, but date within a previous statement periods. These transactions amount will be included in the opening balance for the new period.

If a statement closes showing a closing balance, and the next statement does not open with the same amount, this will be because something affecting the previous period(s) has been processed.
A new transaction has been dated in the previous period.
The end date of a tenant has been moved back or forward across the periods

If you have any expenses i.e Creditor invoices that you want to relate to a particular holiday booking, you must date the invoice entry within the date range of the actual holiday booking. When you generate the statement for that date range it will pick up charges and invoices dated with that range.  THE BOOKING HAS TO STILL BE UNPAID OUT< IF PAID OUT IN A STATEMENT RUN YOU CANNOT USE THAT DATE.

Note: It is strongly recommended that you only use the Holiday property type from the start of the property, if you change to a residential property type at all (or from Residential to Holiday), it will affect the accuracy of the Holiday Statement from there on.  A Residential property will pay out all money owing to an owner, the holiday property type will only pay out from finished holiday bookings.


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