💡 Note: This article covers the new version of owner statements available from the Reports section, which is currently in beta. If you don’t see the option to manage them in the reports, please follow the classic instructions in this article instead.
If a guest causes damage to your rental during their stay, and you need to cover the repair or replacement costs, you must account for it in your Owner Statements.
To better understand the steps, let’s look at an example:
🔎 Example: Upon arrival, you blocked a €300 security deposit on your guest’s credit card. During their stay, the guest accidentally breaks a living room lamp.
As the rental agency, you purchase a new lamp for €125, with the store invoice issued in the owner’s name. You then deduct this amount from the guest’s security deposit in your reservation system.
To account for this money at the end of the owner statement period, follow the steps below:
- Go to your left-hand menu, select Advanced, and then click on Reports.
- Select Owner statements from the left sidebar.
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Click the owner for whom you want to create a new transaction, then select Transactions and + Transaction.
Then, fill in the following information:
- Expense / Credit: Select Expense.
- Fill in the transaction’s name, description, amount, and the date you bought the lamp.
- Toggle the percentage switch if you want to split the payout between the manager and the owner. In this case, it will most likely remain off.
- Select the rental affected by this transaction.
- Leave the Make recurring toggle off.
- Click Add to complete the addition of this transaction.
- The transaction will automatically appear in the next owner statements that include the transaction date.