Owner statements: Overview

Accounting by Guesty is a premium feature available to Pro users only. Please contact us to discuss activating it.

Important:

Activate Accounting by Guesty and set up your business models to start using owner statements.

What is an owner statement?

An owner statement provides a summary of transactions regarding a specific owner for the calendar month before the statement was generated. For example, if an owner statement is generated in May, it summarizes transactions that happened in April. The statement includes the income from all reservations, expenses paid by the owner, and payments that you posted to the owner.

After you set up Owner statements we will generate them for you automatically. You will be able to preview statements, approve them if they are accurate, or flag them for further review if they are inaccurate. If changes are made that are supposed to affect a statement after it was already generated, such as a change in the business model, you should regenerate it and review it one more time before approving it.


Read more about owner statements below to see which templates are available to you and to understand how the statements are structured.

Owner statement templates

Guesty has a default owner statement template and a credit/debit template. The template you choose will be used for your entire account. You cannot choose one template for some listings and the other template for the rest of your listings. Read about the templates below and contact us if you want to change your template.

Default template

For each transaction, the default template shows:
  • The amount, which is the owner's gross income from the transaction. This is the accommodation fare plus any additional income related to the owner for this reservation. Based on how the business model is set up, this can include the cleaning fee and guest taxes, channel commission.
  • The management fee, which is what the owner pays you for the transaction, i.e., your commission.
  • The net, which is the owner's net income from the transaction, i.e., the gross income minus the management fee and VAT, if it's paid by the owner.

Credit/debit template

For each transaction, the credit/debit template only shows amounts related to the owner, i.e., how much they received (credit) and how much they paid (debit), but it does not show how much you, the PMC, received.

Owner statement structure

The owner statement is comprised of three pages—the General Summary, Listing Summary, and Owner Transactions Summary. Read more about each section below.

Owner statement contact details

The property manager's name, email, and address are found on the left-hand side of the owner statement. We use the address found in the account profile section of Account Settings. If the account profile is not filled out, the official company address will be used.

General summary

Each general summary always presents the initial balance and ending balance:
  • Initial balance: The balance that was in the owner's account at the beginning of the month in question. 
  • Ending balance: What is left in the owner account after adding and subtracting the different transactions that took place during the month in question, such as those listed below.
All other items that may appear in the general summary depend on the transactions that took place during the month in question:
  • Rental income: The total rental income transactions for that month.
  • Supplies and purchases: Expenses to be paid by the owner during that month.
  • Management fee: The PMC commission for that month.
  • Minimum account balance: A reserve of money left in the account, as defined between the owner and the PMC  in their contract agreement. Known as the "working capital" in the Owner's Portal.
  • Payment to owner: Payments you posted to the owner. 
  • Payment due to owner: Money you still owe the owner. If no minimum account balance is required, this will be the ending balance.

Important:

The initial balance of an owner statement represents the ending balance of the previous month's owner statement. If an owner was not paid the previous month, there will be an initial balance for the next month. We are able to zero out this initial balance, but it is your responsibility to account for this action as it can create a discrepancy in the owner statement if the owner is not paid.

Listing summary

At the top of each listing summary, there is a summary similar to the general summary we discussed above, of the income due to the owner for a specific property. Below this summary is a breakdown of transactions for that listing that occurred during the month in question. The summary includes:
  • Transaction date
  • Transaction category
  • Description of the transaction
  • Amount of the transaction
  • Management Fee
  • VAT
  • Net amount of Transaction

Owner transactions summary

The Owner Transactions Summary displays transactions that are not connected to specific listings, but rather transactions between the owner and the PMC. Transactions shown in this section include manual transactions created by the PMC via adding a transaction. The summary includes:

  • Transaction date
  • Transaction category
  • Description of the transaction
  • Amount of the transaction
  • Management Fee
  • VAT
  • Net amount of transaction

 

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