Key Steps
Step 1: Reconcile Accounts and Prepare for Statement Review 0:03
Fully reconcile the bank account.
Review accounts receivable.
Record all expenses and reservation adjustments.
Step 2: Access Owner Statements 0:13
Navigate to the statements page.
Select the month under review.
Choose the owner statement to review.
Step 3: Understand Statement Statuses 0:32
Draft: Editable status for making changes.
In Review: All data recorded but not yet ready for issuance.
Published: Finalized statement locked and posted to the owner portal.
Step 4: Review Notifications on Statements 1:17
Check for notifications regarding:
Open balances on reservations.
Unmapped reservation lines.
Unmapped revenue and expense accounts.
Step 5: Investigate Unpaid Reservations 2:10
Identify missing payments or necessary adjustments for unpaid reservations.
Drill down into reservations from the statement to check payment status.
Step 6: Review Management Commissions and Fees 2:37
Ensure formulas for management commissions and fees are calculating correctly.
Confirm that the net owner revenue section is accurate.
Step 7: Capture All Expenses 2:56
Ensure all expenses are recorded for the owner statement.
Step 8: Verify Balance Summary and Net Income 3:06
Review the balance summary for accuracy:
Net revenue should reflect total revenue.
Expenses should be recorded correctly.
Calculate net income as net revenue minus expenses.
Step 9: Change Statement Status to In Review 4:42
Once all data is verified, change the status from draft to in review.
Step 10: Publish the Statement 4:53
Finalize the statement by changing the status to published.
Optionally add a message for clarification.
Choose to send email notifications immediately or after two hours.
Step 11: Review All Statements 5:13
Navigate back to the statements page and repeat the process for all monthly statements.
Step 12: Handle Missing Owners and Listings 5:47
If an owner is missing, add them on the owner's page and assign them to the listing.
Step 13: Input Owner Payouts 6:16
Once statements are published, use the blue pay owner button to create a payout.
Step 14: View Transfers to Owners 6:47
Navigate to the statements page and select transfers to view recorded owner payouts.
Cautionary Notes
Ensure all financial data is accurate before publishing statements.
Double-check for any unpaid reservations before finalizing the statement.
Tips for Efficiency
Use the draft status to make necessary adjustments before finalizing statements.