When creating a business model, you select the revenue recognition parameters for the PMC commission, recurring owner expenses or charges, and additional fees. The recognition parameters define the date that a transaction is recognized in your accounting, regardless of when the guest payment is received. Learn more.
If you frequently book long-term reservations that span over more than one month, you may want to set your revenue recognition to nightly.
If your revenue recognition is set to check-in or check-out, but you would like to make an exception for the occasional long-term reservation, you can manually adjust the specific reservation.
For example:
Reservation is made for check-in August 15, check-out December 15. Total revenue is $25,000.
The related business model recognition is check-in. $25,000 for this reservation is recognized on August 15.
You would like to recognize $5,000 per month over the 5 months of the reservations. To achieve this, you can make adjustments to the reservation's guest folio to manually redistribute the total amount. Using the above example:
- Adjust the accommodation fare (-$20,000) with a realization date in August
- Adjust the accommodation fare +$5,000 with a realization date in September
- Adjust the accommodation fare +$5,000 with a realization date in October
- Adjust the accommodation fare +$5,000 with a realization date in November
- Adjust the accommodation fare +$5,000 with a realization date in December