Accounting by Guesty is a premium feature. Please contact us to discuss activating it.
A balance is a summary of financial transactions from the trust account's point of view as of a specific date. For example, you want to know your balance for today, so today is the "as of" date. Let's say a guest pays for their reservation and some of that money is intended for a vendor that provided a service for that reservation. If, as of today, that money is still in the trust account and has not yet been paid to the vendor, it will be part of that vendor's balance.
In Guesty, you can view a balance report for your ledgers as of the balance date you choose, in a quick tabular view. As opposed to a posting journal entry, which represents a single transaction to a vendor, for example, on a specific date, a balances report entry shows the sum of transactions as of that date, over time.
Follow the instructions below to view ledger balances.
ֿStep by step:
- Sign in to your Guesty account.
- In the top navigation bar, click the mode selector and select Accounting mode.
- Click General ledger and select Balances from the drop-down menu.
- At the top left, use the filters to focus on the date and ledger that interest you:
- Click Balance date and select the "as of" date discussed in the example above.
- Click Ledger and select the ledger for which you want the balance to be calculated.
- If needed, you can click the blue plus icon to add more filters.
- At the top right, click Columns. In the drop-down menu, toggle to activate "Outstanding balances".
If you change your Guesty account currency, balances that remain from before the change will be displayed in both currencies: the balance until the change will be displayed in the old currency, and the balance since the change will be displayed in the new currency.