Monthly Deposit Review and Reconciliation Procedure
Objective
This SOP outlines the steps to review and reconcile monthly deposits from Airbnb and Stripe connections in VRTrust, ensuring accurate financial records.
Key Steps
Step 1: Review Deposits 0:03
Access the bank reconciliation page in VRTrust.
Review the deposits fetched from Airbnb and Stripe connections.
Step 2: Navigate to Non-Reservation Tab 0:33
Go to the Non-Reservation tab.
Identify any charges related to reservations that lack detail.
Step 3: Edit Transactions 0:48
Select 'Edit' on the transaction.
If already matched in the bank feed, unmatch the transaction first.
Step 4: Move Deposits to Reservations Tab 1:00
If amounts belong to a reservation, move them to the Reservations tab.
Select the correct reservation using the reservation name or confirmation ID.
Step 5: Assign Amounts and Save 1:09
Assign the amount to the associated reservation.
Save the edit.
Step 6: Handle Non-Reservation Amounts 1:30
If the amount does not belong to a reservation, move it back to the Non-Reservation tab.
Choose the correct account to record the transaction.
Step 7: Bill to Owner 1:38
If the amount is billable to the owner, select the 'bill to owner' box.
Assign the transaction to a specific listing.
Step 8: Management Revenues or Expenses 1:46
For management revenues or expenses, assign the appropriate account.
Leave the 'bill to owner' box unchecked and save.
Step 9: Review Remaining Deposits 2:06
Review remaining deposits with non-reservation amounts for accuracy.
It's acceptable for amounts to remain in the non-reservation column if reviewed correctly.
Step 10: Review Unassigned Deposits 2:21
Review deposits unassigned to a bank account, typically related to co-host listings.
Step 11: Archive Non-Trust Deposits 3:00
Archive deposits that do not belong to the trust account to remove them from records.
Step 12: Filter Deposits for Reconciliation 3:11
Filter deposit transactions for the month being reconciled.
Step 13: Ensure All Deposits are Reconciled 3:27
Ensure all deposits for the month are reconciled or matched to the trust account.
Step 14: Check for Unmatched Transactions 3:36
Verify that all remaining deposit transactions are matched or reconciled.
Step 15: Final Reconciliation Check 3:53
Confirm that all deposits have a green check mark in the reconciliation column with no unmatched amounts.
Cautionary Notes
Always unmatch transactions before editing if they have been previously matched.
Ensure that amounts are accurately assigned to the correct reservations or accounts to avoid discrepancies.
Tips for Efficiency
Regularly check for unmatched transactions to avoid backlog.