The "Items-PMS" tab within VRPlatform's Mappings page is necessary for configuring your reservation invoice automation by associating products and services with your PMS line types. For each line type, you'll designate the respective product or service from your accounting system, facilitating accurate tracking of revenue and expenses.
To initiate the process, ensure your Fallback field is set to "Guest Charges: Owner Income: Uncategorized Item." This specific product or service, directed to your balance sheet under "Trust Liabilities," serves as the default assignment for any unmapped line types. If you observe transactions accruing in this account during your monthly review, it serves as a prompt to access the Items-PMS tab and address any unmapped line types promptly.
Familiarity with the imported product and service list during your QuickBooks Online (QBO) account configurations is crucial. In your mappings, any product and service starting with "Guest Charges: PM Income" will be categorized under property management income in the Profit and Loss (P&L) statement. Conversely, products and services beginning with "Guest Charge: Owner Income" will be allocated to the balance sheet within the "Trust Liabilities" section as owner income. Understanding and adhering to these categorizations ensure accurate financial reporting and tracking within your accounting system.
After assigning all line types to respective products or services and finalizing Class, Location, and "Receive-to Account" mappings, it's essential to test the reservation automation by running a reservation and payment for a guest from each booking channel. This step allows for verifying whether any items need inclusion or exclusion based on the Inclusion instructions.
Exceptions can also be established, directing a line type to one product or service for certain listings and to a different one for others, similar to the setup demonstrated for the cleaning fee seen above. Refer to the video below for guidance on setting up these exceptions effectively.