Understanding the structure of owner and manager statements, as well as how sales tax is managed, is crucial for accurate financial reporting. Below, we provide an overview of these topics to help you better understand the reporting features available.

Owner statements are fully customizable, allowing you to tailor the information presented to meet specific needs. These statements typically include details about income, expenses, and other financial transactions related to the property. Customization options ensure that owners receive clear and relevant financial summaries.

Manager statements are designed to show income earned from the trust or property management activities. These statements provide a clear breakdown of financial performance, helping managers track and report earnings effectively.

Sales or lodging taxes typically do not appear on owner statements unless those taxes are being passed through to the owner. In most cases, taxes are received and recorded in tax liability accounts rather than being listed as income or expense lines on the owner statement. This ensures accurate tax reporting and compliance.

For bookings made through third-party channels (e.g., online travel agencies or direct bookings), tax settings are often managed within the property management system (PMS) or directly on the booking channel. These settings are not controlled by the platform itself, so it’s important to configure them correctly in the relevant system. By understanding these aspects of financial reporting, you can ensure that owner and manager statements are accurate and that tax handling aligns with your operational needs.