Key Steps
1. Review Reservations with No Open Balances 0:03
Access the reservations page in VRTrust.
Filter by payment status to show only fully paid reservations.
Confirm that guest balances are equal to zero.
2. Generate Guest Balances Report 0:42
Navigate to the Reports page.
Select the Guest Balances report.
Set the date to the last day of the month for the month under review.
3. Analyze Departed Guest Balances 1:06
Focus on the departed section of the report.
Ensure that all checked-out guests have a zero balance.
4. Identify Non-Zero Balances 1:14
Review booked and canceled reservations with non-zero open balances.
Note that most non-zero balances are related to resolutions, refunds, or cancellations.
5. Make Financial Adjustments for Overpayments 1:28
For reservations with overpayments, identify the total charge and total received.
Add an adjustment in the financials to account for any extra payments received.
6. Record Adjustments for Specific Items 2:21
If the extra payment is for a specific service (e.g., cleaning), add the adjustment directly from the relevant line item.
If it’s for a different service (e.g., baby crib), select 'Reservation Adjustment' and enter the amount.
7. Confirm Adjustment and Update Balances 2:42
Save the adjustment to mark the open balance as paid.
Verify that the balance is removed from the departed section of the Guest Balances report.
8. Handle Canceled Reservations 3:03
Review canceled reservations with open balances.
Add an adjustment to record any cancellation fee revenue.
9. Finalize Adjustments 3:26
Ensure all adjustments for booked and canceled reservations are recorded.
Confirm that the departed section of the guest balances report shows a zero balance.
10. Review In-House and Advanced Deposits 3:41
Check the in-house section for guests who have checked in but not yet departed.
Review advanced deposits for future bookings to ensure all balances are reconciled.
Cautionary Notes
Always double-check the amounts before finalizing adjustments to avoid discrepancies.
Tips for Efficiency
Use filters effectively to quickly locate reservations with open balances.
Familiarize yourself with the Guest Balances report for better understanding.
Regularly review reports to stay on top of any outstanding balances.