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Troubleshooting clearing accounts
Troubleshooting clearing accounts

Month-end accounting tasks

Updated over 6 months ago

While reconciling your clearing accounts, you may notice that some guests either lack a corresponding payment or journal entry transaction. There are various reasons why this may occur.

The following scenarios are:

There is a missing payment in the clearing account

Sometimes you will have a journal entry recorded in your clearing account without a corresponding payment. Make sure to sort the clearing account reconciliation by payee so that all transactions related to each guest appear together.

To troubleshoot a missing payment, perform the following steps:

  1. Navigate to the guest profile in Quickbooks for which there is a missing payment by searching the guest name in the search box and selecting the contact customer profile.

  2. Ensure that the missing payment is not recorded in the list of transactions. Sometimes, a payment is recorded to the wrong clearing account. If the missing payment is generated by VRPlatform, and not recorded manually, perhaps your initial configurations or current configurations are set incorrectly, causing the payment to be recorded to the wrong clearing account. Check the "Receive-to Account" section on your Mappings page to ensure the payments are being directed to the correct clearing account.

  3. If a payment is missing, navigate to the payments page, search for the guest name or reservation ID in the search box, select the payment transaction, and select "Post." You can then select the "Reservation Payment' box and "Push to selected automations."

  4. Go back to your clearing account reconciliation in Quickbooks, refresh your browser, and the payment will show in your reconciliation.

  5. Each payment recorded against the invoice should have a matching journal entry. If you search the guest name in the search box, and there is one payment, and two journal entries for the same payment, delete the duplicate journal entry. Be sure to delete the duplicate journal entry transaction that is not matched to your bank feed.

There is a missing journal entry in the clearing account

You may notice that there is a payment recorded, with no matching journal entry. This can happen for one of three reasons: There is a duplicate payment being recorded that needs to be deleted in Quickbooks, the journal entry was not generated and matched to the deposit in your bank feed, or your journal entry configurations are set incorrectly, causing the reservation deposit amount to be recorded to the wrong clearing account.

To troubleshoot a missing journal entry, perform the following steps:

  1. Navigate to the guest profile in Quickbooks for which there is a missing journal entry by searching the guest name in the search box and selecting the contact customer profile (Step 1 above). There should be one invoice, recorded payments, and one journal entry for every payment received. You can easily see if there is a duplicate payment being recorded. Delete the duplicate payment.

  2. If the journal entry is not in QBO, navigate to the payments page (step 3 above), search for the guest name or reservation ID in the search box, select the payout journal transaction, and select "Post." You can then select the "Payment Journal Entries" box and "Push to selected automations." Go back to your clearing account reconciliation and refresh your screen to find the missing journal entry to match against the payment. Make sure the journal entry is matched to the deposit in your bank feed.

  3. If you suspect that your mappings are incorrect, as you notice many payments without matching journal entries, review that all payment reservation amounts are directed to the proper clearing accounts on the Mappings page under the section "Items- Payment Processors." The line types should be set to the clearing accounts as indicated below:

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