How a canceled reservation is reflected in the accounting folio and the owner statement depends on the listing's cancellation policy, the related business model, and the timing of the cancellation.
Canceled reservation in the accounting folio
Reservation canceled prior to check-in
If a reservation is canceled prior to check-in, all items in the accounting folio are zeroed out. One of the following will happen depending on the timing of the cancellation and the listing's cancellation policy:
- No charges apply: Accounting folios remain at zero
- Charges apply: "Cancellation fee" appears as journal entry in the accounting folio
The revenue split between PMC and owner for the cancellation fee is based on the business model setup for "cancellation fee".
Reservation canceled on or after check-in
If a reservation is canceled on or after check-in, no changes are made in the guest folio. In the accounting folio, the revenue split between PMC and owner is based on the business model setup for "canceled reservations" under the net rental income calculation.
Canceled reservation in the owner statement
If the reservation is canceled before the owner statement is generated, the statement reflects the updated revenue and no further action is required.
If the reservation is canceled after the owner statement is generated, and after the business model trigger (such as check-in or check-out), the statement may show the full amount or a cancellation fee for the reservation.
If the reservation is canceled and no refund is due, the owner statement already reflects the full reservation revenue. No action is required.
If the reservation is canceled and a partial or full refund is due back to the guest, regenerate the owner statement to reflect reduced or zero revenue.
Tip:
Update your owner statement template reservation settings to display "canceled" on the statement for reservations that are canceled but have revenue.
Remove canceled reservation from owner statement
If a canceled reservation is still showing in the owner statement, follow the steps below to remove it. The actions depend on whether the payment was refunded or not.
Canceled reservation with full refund
- Adjust the guest folio. Make sure you follow the recognition date set by your business model.
- The adjustment pushes automatically to the accounting folio. If the reservation is locked, reprocess the reservation.
- Once the accounting folio shows zero, regenerate the owner statement following steps below.
Canceled reservation with cancellation fee
- Decide whether to show the cancellation fee based on your policy, or remove the reservation from accounting (leaving the guest folio unchanged).
- To remove the reservation from accounting, reverse the transactions from the accounting folio.
- Regenerate the owner statement following steps below..
Note:
Reversing transactions from the accounting folio removes the canceled reservation from statements but does not affect the guest folio.
Generate a canceled reservations report
Step by step:
- Sign in to your Guesty account.
- In the side navigation menu, click
Reservations. - Apply filters: Listing, Check in/out dates, status is “Cancelled”.
- Add relevant columns, including "Payment".
Check any reservations with a 0 total paid amount to confirm whether they should appear on the owner statements.
If removal is needed, reverse the transactions from the reservation and regenerate the statement.
Regenerate owner statement for refunded reservation
Step by step:
- Sign in to your Guesty account.
- In the side navigation menu, click
Accounting to open the dropdown menu. - Under Owner accounting, select Owner statements.
- In the far right column next to the relevant owner statement, click the three dots to view more options.
- Click Regenerate.
Cancellation charge waived for guest
If you waive a cancellation fee charged by your business model:
- Reverse the transaction for the cancellation fee by following these steps.
- Regenerate the owner statement as described above.
