Updating the Deposit Settings in Your ThinkReservations Account [Mini Video]

For your convenience, we've included a transcript of this video below.

Hello everyone, and thank you for joining me here today. My name is Laura Scheidegger and I am a Sales Account Manager.

Today I just wanted to do a quick how-to video. Today's topic is specialized in how to update your deposit policy. This can be done in your settings. let me go ahead and show you how to do that. Bear with me as I share my screen.

Okay, once you are in your account, I am in our sales demo account, and I'm going to head right to Settings. In the upper right-hand side, click on Settings. Once in Settings, on the far left hand side, scroll down just a little bit until you hit Room Configurations. And I'm going to click on Rate Types within your rate type, this is where you make your rates, but this is also where you can update your deposit policy.

Mind you all rate types are unique. So if you change one deposit policy, you have to change any others based on what your property decides.

I'm going to start by going into our Best Available Rate. Once in this rate type you’re immediately under the General Information page. Under Edit Rate Type, we're going to look at the Deposit Type area right here. And today we're going to make an adjustment to this rate type to change it to “no deposit” at time of online reservation.

So to do that, I'm going to the first line where it says Number of Nights and click to change that to a percent. Mine automatically change to zero but if yours doesn't you can simply change that and put a zero.

The next line is going to be “Take full deposit if number of nights less than or equal to”, we're going to change that to zero. The next line is “Take full deposit if lead time is less than or equal to” and we're going to change that to zero.

“Include taxes with your deposit” - we're not taking a deposit, so we're going to change that to “no”. No taxes will be taken at time of this deposit and then the same thing with items. We are not going to take any out on item payment at time of reservations.

Once those details are set you can simply go up and to your Save button and that will update your deposit policy for your online reservations.

Remember every rate type is unique (independent). So you must pop into each individual rate type and make those changes individually and save.

If you are using Hotel Collect with Expedia or Booking.com, the rate type you would update is your OTA Rate (unless you have named it something else). We do highly recommend that you also update your Extranet to make sure that everything is showing the same.

And once those are done, the next thing we suggest you do is make an update to your business configuration settings. So under Business Configuration in Business Settings, if you are making an amendment to your Terms and Conditions or your deposits or your cancellations, go ahead and click on Business Settings. Scroll down a little bit until you see the two boxes; one is Terms and Conditions, the other is Cancellation Policy. These are easily updated by clicking into the box.

You can move it down and then type the information you choose to make an adjustment to. And the same thing if you make an adjustment to your cancellation, The information goes here. Please don't forget to scroll all the way to the bottom and hit Save. Tt will update your Terms and Conditions and Cancellation Policy for anyone making an online reservation. And they will see that immediately during that process.

That's pretty much all I have for today. If you need assistance with making any of these changes to your system, please don't hesitate to call our Support Team, and they'll be happy to walk you through it. I hope everyone has a fantastic day, gets out and, has some sunshine and we'll speak to you soon. Take care.

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