The purpose of this article
VRTrust supports several ways to record a cancellation — fee adjustments, manual PM revenue allocation, and cancellation revenue to owners. This article provides a decision path instead of a feature list.
Decision path
Was a cancellation fee charged to the guest? If yes, record it as a cancellation fee adjustment so it flows to the correct fee/commission accounts.
Does any revenue need to be reallocated to the property manager (e.g., a non-refundable deposit the PM keeps)? If yes, use the manual PM revenue allocation adjustment rather than editing the reservation directly.
Does the owner keep any revenue from the cancellation? If yes, route it through cancellation revenue to owners so it appears correctly on their statement.
Is the cancellation happening after the statement period has closed? Use the financial adjustment tools from the reservation drawer rather than reopening a closed statement.
What should be documented
Who is authorized to approve a cancellation adjustment above a dollar threshold.
Standardized memo/description language for cancellation line items, so they're identifiable in the GL later.
Turnaround time expectations between a cancellation happening and the adjustment being recorded.