What should my "go live" date be?
Always on the 1st of a month.
The onboarding process varies based on the size and complexity of your business. We typically discourage going backwards and trying to complete multiple months of historical clean-up. Focusing on the current month allows the user to understand the process of how VRPlatform works and how to perform the month-end reconciliations and owner statement reports/payments.
When will I be able to Issue Owner Statements in VRPlatform?
Typically your first time issuing owner statements in VRP will be AFTER you have completed your first month of accounting. For example, if your go live date is April 1st, 2024, then you would typically issue your owner statements for the first time for April payouts (typically in May).
How long does Onboarding Take?
Currently, onboarding typically takes between 5-10 hours and involves the following:
VRPlatform Connections - 15%
Quickbooks configurations and setup - 20%
Automation Configurations and Setup - 30%
Owner Statement Setup - 20%
Accounting Process Overview - 15%
NOTE - the estimated hours varies based on the number of listings. Clients managing less than 20 listings can expect less onboarding time than clients with hundreds of listings.
Which Payment Processors does VRPlatform connect with?
Currently Airbnb and Stripe are supported payment platforms. You can still use VRPlatform if you use other payments processors (Authorize.net, Vacation Rent Payment, Lynnbrook, etc.), but you will need to have access to the payout details in order to match the deposits to the individual reservations.
Processors that don't withhold a fee from the deposit, but rather bill their merchant fee or deduct it separately are the best alternative to Stripe (from an accounting automation perspective).
How does Billing Work?
Billing is based on the number of active listings in VRPlatform around the 1st of each month. Our automated billing system is connected to VRPlatform. Within the first 5 days of each month, your active listing count in VRPlatform will be pulled and your payment method will be charged. If you have listings that are inactive in your Property Management System or disabled in VRPlatform, you will not be charged for those listings.
It is important to note that your listings should be reviewed at least monthly after owner statements are issued to make sure you disable listings that you are no longer managing.
Can I import Historical Data?
Yes you can. Please reach out to our team via the support chat in VRPlatform and let us know what dates you would like to be pulled into VRPlatform and then sent to QBO. NOTE - you will be charged for each month of data you request to be posted into QBO.
What Connections are Required?
Quickbooks
Property Management System
Stripe account or accounts (if applicable)
Airbnb account or accounts (if applicable)