Achieve full compliance with Australian trust accounting regulations, including Queensland’s stringent standards, using Guesty’s accounting reports and features for Australia and New Zealand.
Important:
Local accounting standards in Australia and New Zealand require specific processes for handling trust monies, reconciliations, and owner statements. Always verify compliance requirements in your region.
Guesty provides tailored accounting tools and workflows for users in Australia and New Zealand. Explore the resources below to learn about available features, best practices, and step-by-step workflows.
Setup and general configuration
- Set up fiscal year starting month
- Add owner payout method
- Add vendor payout method
- Include Australian or New Zealand business registration details
Reviewing transactions and reports
- Review transactions in a reservation’s accounting folio
- Overview of accounting reports (three-way reconciliation, cash book breakdown, monies in transit, and more)
- Balance the three-way reconciliation report
- ANZ accounting reports
Owner statements
- Charge the owner GST for commission
- Generate annual owner statements
- Customize to show year-to-date column
- Customize to display GST on accommodation fare only
Bank reconciliations and payouts
- Manage bank reconciliations
- Create an ABA file payout
- Enter adjustments directly in bank reconciliation (see bank reconciliation guide)
- Unique sequential numbering for deposits and disbursements
Transaction categorization and grouping
- Classify transaction categories as trust or non-trust monies
- Filter transactions by trust or non-trust status when creating a disbursement
- Manage grouped transactions (check register)
- Airbnb auto grouping (for enabled accounts)
Expense and owner charges management
- Manage expenses and owner charges
- Create expense or owner charge rules
- Create a one-time expense or owner charge
- Manage expenses with insufficient funds
Accounting best practices
Tip:
Bookmark this article and your most-used workflows to keep guidance at your fingertips as you manage your accounting processes.