The "Items - Payment Processors" section on the VRPlatform Mappings page simplifies the process of the mapping of general ledger accounts from QBO to specific line types from your payment processors associated with the Payment Journal Entries automation. This mapping is essential for accurately delineating revenue and expenses, ensuring that each transaction is appropriately recorded and tracked through the automated deposit journal entry, subsequently matched in the bank feed to your Stripe and Airbnb deposits.
It is imperative to assign the common line types utilized to the corresponding general ledger accounts based on whether the revenue or expense is incurred by the Property Manager (PM) or the property owner.
Please note: For the line types below pertaining to Stripe Fees in the second column (Stripe Application Fee, Stripe Fee, and Stripe Stripe Fee), the listed account directs the merchant fee to the owner as the expense is incurred, which does not always coincide with the stay. If you prefer that the fee appears on the owner statement concurrent with the stay, you will need to set up a Stripe fee automation, and the account should be directed to "Other Guest Fee Revenues:Processing Fees" in the "Items - Payment Processors" mappings.
In the table provided, the first column indicates the appropriate balance sheet account to assign if the line type is associated with the owner. The second column specifies the profit and loss (P&L) account to which the line type should be allocated for the property manager (PM). It's important to note that certain line types are linked to the same balance sheet account in both columns, indicating they are not classified as owner or PM income or expense line types. Below are the mappings for commonly used line types:"
Line Type | Items - Payment Processors - To Owners (To Balance Sheet) | Items - Payment Processors - To PM (To P&L) |
Airbnb Adjustment | Trust Liabilities:Owner Payables:Net Earnings:Resolutions | Trust Liabilities:Owner Payables:Net Earnings:Resolutions |
Airbnb Resolution Adjustment | Trust Liabilities:Owner Payables:Net Earnings:Resolutions | Other Guest Fee Revenues:Airbnb Resolutions Revenue (Expense) |
Airbnb Cancellation Fee | Trust Liabilities:Owner Payables:Net Earnings:Cancelation Fees (Net of Refunds) | Other Guest Fee Revenues:Cancelation Fees (Net of Refunds) |
Airbnb Cancellation Fee Refund | Trust Liabilities:Owner Payables:Net Earnings:Cancelation Fees (Net of Refunds) | Other Guest Fee Revenues:Cancelation Fees (Net of Refunds) |
Airbnb Cleaning Fee Adjustment | Trust Liabilities:Owner Payables:Net Earnings:Resolutions |
Other Guest Fee Revenues:Airbnb Resolutions Revenue (Expense) |
Airbnb Host Service Fee Adjustment | rust Liabilities:Owner Payables:Net Earnings:Resolutions | Other Guest Fee Revenues:Airbnb Resolutions Revenue (Expense) |
Airbnb Pass Through Tot | Trust Assets other than Cash & A/R:Payments in transit to Trust:Payments Clearing - Airbnb | Trust Assets other than Cash & A/R:Payments in transit to Trust:Payments Clearing - Airbnb |
Reservation Payment | Trust Assets other than Cash & A/R:Payments in transit to Trust:Payments Clearing - Airbnb | Trust Assets other than Cash & A/R:Payments in transit to Trust:Payments Clearing - Airbnb |
Stripe Application Fee | Trust Liabilities:Owner Payables:Net Earnings:Credit Card Fees | Other Guest Fee Revenues:Processing Fees |
Stripe Charge | Trust Assets other than Cash & A/R:Payments in transit to Trust:Payments Clearing - Stripe | Trust Assets other than Cash & A/R:Payments in transit to Trust:Payments Clearing - Stripe |
Stripe Dispute | Trust Assets other than Cash & A/R:Stripe Disputes (chargebacks under review | Trust Assets other than Cash & A/R:Stripe Disputes (chargebacks under review |
Stripe Dispute Reversal | Trust Assets other than Cash & A/R:Stripe Disputes (chargebacks under review | Trust Assets other than Cash & A/R:Stripe Disputes (chargebacks under review |
Stripe Fee | Trust Liabilities:Owner Payables:Net Earnings:Credit Card Fees | Other Guest Fee Revenues:Processing Fees |
Stripe Refund | Accounts Receivable (A/R) | Accounts Receivable (A/R) |
Stripe Stripe Fee | Trust Liabilities:Owner Payables:Net Earnings:Credit Card Fees | Other Guest Fee Revenues:Processing Fees |
For those who have a Booking.com connection, please set an exception for the "Reservation Payment" line type as shown below:
