Accounting Reports

We are pleased to announce that we have officially rolled out Accounting reports to all ThinkReservations customers. These reports will simplify your accounting process. You can find the reports under the Accounting section on the Reports page. If you do not see them, please review your user permissions to make sure you have access.

More information can be found in our documentation:

Summary Report

The Accounting Summary Report supports a journal entry into your accounting system by presenting a balanced entry of debits and credits for each account for the period specified. The amounts represent the net change for the period to be recorded in your accounting software.

The Accounting Summary introduces an account called Guest Ledger. The Guest Ledger represents the status of guest reservations that are in-house at any point in time. The balance in the Guest Ledger will also include any reservations with a balance due from, or owing to, the guest after departure, and the balance due or owing on any point of sale bill where the sale date has occurred. This account is set up as an asset. The Guest Ledger will be increased (debited) as revenue is earned and will be decreased (credited) when payments and credits are applied. Advance deposits received will be moved from Deposit Liability to Guest Ledger on the date of arrival.

Accounts Report

The Accounts Report provides the transaction level detail by account, showing all debits and credits supporting the amounts on the Summary Report. The report displays date, description of the activity, a link to the confirmation ID, and the amount.

Journal Report

The Journal Report displays the balanced debits and credits for each transaction within the dates specified. This report is at the lowest transaction level (room/item/payment), and includes date, description, a link to the confirmation ID, account, debit, and credit. It is useful for researching specific transactions and how they affect the accounts.

We look forward to helping you discover new ways to grow your business!

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