Guesty's chart of accounts

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A chart of accounts is a list of all accounts used by a company in its accounting system. Accounts are classified into various elements and each account is assigned a unique account number.

Guesty’s Accounting solution uses five preselected accounts under assets and liabilities to record transactions. See more information below.

Assets

  • Cash
    The Cash account records the movement of money to, from, and within the trust account.

Liabilities

  • Advanced deposits (guests)
    The advanced deposits account records payments made by guests for services owed to them. When the services are rendered, corresponding transactions are recorded to decrease the amount owed to the guests.
  • Accounts payable (PMC, vendors, tax)
    The accounts payable account keeps track of what is owed to third parties such as tax authorities, your property management company, and service providers called vendors.
  • Owners
    The owners account records payments owed to the property owners.

Tip:

Learn more about organizing and keeping track of your business’ finances using Guesty's Accounting solution.

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