As part of setting your opening balances in VRTrust, it’s important to report advance deposits accurately and completely. This ensures your financials reflect the correct cash position and helps maintain trust accounting integrity from day one.
What Are Advance Deposits?
Advance deposits represent payments received for future reservations where revenue has not yet been recognized.
These deposits are critical because they:
Represent liabilities (money held on behalf of owners or guests)
Impact your trust account balances
Ensure accurate financial reporting and reconciliation
How to Import Advance Deposits
Step 1: Navigate to Advance Deposits
Go to Settings
Select Opening Balances
Locate the Review Advance Deposits section
Click Update
Step 2: Choose How to Add Deposits
In the modal, you can:
Select existing reservations already pulled into VRTrust, or
Upload deposits using a CSV file
To upload:
Click Download CSV Template
Step 3: Complete the CSV Template
The template includes three required columns:
Reservation ID
Payment Amount
Refund Amount (if applicable)
Important Notes:
Include all future reservations with payments already received
Each row should represent a single transaction tied to a reservation
The Reservation ID must match your PMS record
You can also find this in VRTrust under the Reservations page (below the guest name)
Step 4: Upload Your File
Save the completed file as a CSV
Upload it in the import modal
Click Import
Step 5: Review and Confirm
After importing:
You’ll see a success message
VRTrust will automatically:
Match reservations using the Reservation ID
Sync reservation details
Apply the payments and refunds you uploaded
You can make adjustments directly in the list if needed.
Once everything looks correct, click Submit.
Why This Matters
Accurately recording advance deposits ensures:
Your cash position is clear and reliable
Your trust accounting is compliant
Your owner balances are correct from the start