How to Review and Understand Account Assignments in VRTrust
Account Assignments determine which general ledger (GL) accounts are used when specific transactions are created in VRTrust. Understanding these assignments is critical for accurate reporting, reconciliation, and statement generation.
This article explains where to find Account Assignments and how each assignment is used.
Where to Find Account Assignments
Go to Settings (bottom of the left-hand menu)
Select Accounts
View Account Assignments in the far-right column
When a VRTrust account is created, you inherit:
A default chart of accounts
A set of default account assignments
These defaults support standard short-term rental accounting workflows.
What Are Account Assignments?
Account Assignments control:
Which GL account is used
For which transaction type
And how balances move as transactions are created, updated, or paid
Each assignment is tied to one or more transaction workflows (reservations, deposits, expenses, transfers, etc.).
Account Assignments Explained
Transfer Owner Payout
Used for: Owner statement transfers
Purpose: Records payments made to owners when transfers are created from owner statements
Typically mapped to a bank account
Can be overridden per owner by:
Going to Owners
Selecting the owner
Editing the Transfer Bank Account
Suggested account classification: Asset (Bank)
Deposit Reserve Account
Used for: Deposit transactions
Purpose: Tracks funds held in reserve on reservation lines
Commonly used when:
Deposits include reserves
Stripe transactions temporarily hold funds before release
Suggested account classification: Asset
Deposit VAT Account
Used for: Deposit transactions
Purpose: Tracks VAT tax withheld from deposits
Accounts Receivable
Used for: Reservation and deposit transactions
Purpose: Tracks money guests owe
Balance increases when:
A reservation is added
A reservation financial adjustment is added
Balance decreases when:
A deposit with a payment or refund is added
Unpaid reservations remain in this account until payment is received.
Suggested account classification: Asset
Accounts Payable
Used for: Expense transactions
Purpose: Tracks money owed to vendors
Balance increases when:
An unpaid expense is added
Balance decreases when:
The expense is marked as paid
Suggested account classification: Liability
Deferred Revenue
Used for: Reservation transactions
Purpose: Tracks timing differences between:
Default revenue recognition date
Reservation line revenue recognition date
These differences are recorded as deferred revenue.
Refer to the Revenue Recognition help article for configuration details.
Suggested account classification: Liability
Expense Sales Tax
Used for: Expenses, fees, and commissions
Purpose: Tracks taxes when:
A markup and markup tax are added to an expense
A tax rate is set on a fee or commission
Suggested account classification: Liability
Cancellation Revenue
Used for: Reservation transactions
Purpose: Records revenue retained from cancelled reservations
Used when:
A financial adjustment is added to a cancelled reservation
The adjustment type is not specified
Suggested account classification: Revenue
Expense Markup
Used for: Expense transactions
Purpose: Tracks revenue created from expense markups
When a markup is applied to an expense, the markup amount posts to this account.
See the Expense Markups help article for more details.
Suggested account classification: Revenue
Expense Reimbursement
Used for: Expense transactions
Purpose: Tracks revenue when:
An expense is added to an owner’s ledger
The expense is paid from a non-trust account
See the Expense Reimbursements help article for setup guidance.
Suggested account classification: Revenue
Deposit Channel Fee
Used for: Deposit transactions
Purpose: Tracks channel fees included in deposits on reservation lines
Suggested account classification: Expense
Deposit Merchant Fee
Used for: Deposit transactions
Purpose: Tracks merchant processing fees included in deposits
Suggested account classification: Expense
Deposit Co-Host Payout
Used for: Deposit transactions
Purpose: Tracks payouts made to:
Co-hosts
Owners
Other entities paid from deposit activity
Opening Balance Account
Used for: Opening balance entries
Purpose: Records opening equity when establishing the beginning trust account balance at Go-Live
Transfer Account
Used for: Transfer transactions
Purpose: Records payments to owners created from owner statements
Reduces the amount owed to the owner
Supports owner payout tracking and reconciliation
Suggested account classification: Expense
Summary
Account Assignments in VRTrust:
Control how transactions post to the general ledger
Drive accurate statements and reporting
Work automatically with the default chart of accounts
Can be reviewed and adjusted as needed for your workflows
Understanding these assignments ensures confidence in your accounting setup and month-end reconciliation.