Feature Release: Analyzing your Online Travel Agency (OTA) Payout Details within Clearing

Use Clearing to automatically match OTA payout details with each booking and property information to audit financial transactions with ease!

September 7, 2023


Feature Release: Analyzing your Online Travel Agency (OTA) Payout Details within Clearing

Nowadays, most people book their Short-Term Rental or vacation rental properties using Online Travel Agencies (OTAs). Therefore, it’s essential for property managers to list their rental assets on platforms like Airbnb, Vrbo, or Booking.com. Listing properties on such portals is not only good for marketing the property, but also has become almost necessary for business success.

It’s important to understand that bookings that results from OTAs may create accounting challenges pertaining to the financial information management. Reconciliation of transaction becomes challenging as categorizing each line item from Stripe and/or Airbnb payouts is difficult and time-consuming. A property manager’s time is preoccupied with business activities pertaining to the marketing and management of Short-Term Rentals, and taking time away from this to do manual bookkeeping is a huge opportunity loss. This manual bookkeeping means that they don’t have as much time to focus on their primary business operations. In addition, hiring someone to audit financial transactions and categorize them is often seen as an additional expense and takes time to train and get up to speed with the processes.

Despite these challenges, reviewing the transactions for each property is essential as it can help property managers ensure greater financial clarity. Insights derived from granular bookkeeping can then be used to allocate business resources effectively, helping property managers scale their businesses. The problem is a “catch-22”.

In light of this, Clearing has developed a solution that makes property managers' accounting processes much easier, especially for bulk payouts from OTAs. We’re proud to announce that Clearing now matches Stripe and Airbnb payouts with the financial details of the respective booking - all the way down to the individual line items. This exciting new feature automates categorization of each line item and simplifies the process of reviewing the transactions.

Property managers can view different expenses, such as cleaning and maintenance for each Short-Term Rental property, helping them audit financial transactions with ease. They also have access to additional information such as booking ID, and Airbnb code from within the system, which can easily take you into those respective platform’s booking records for cross validation. Property managers can see each of the different line items, such as rent cleaning fees, processing fees, taxes, or maintenance fees. They can even tag specific homeowners and properties for each booking automatically. This helps property managers ensure financial clarity and improve the level of transparency pertaining to each of their Short-Term Rental transactions per property.

So, if you’re looking to audit financial transactions with ease, Clearing is the solution you need!

We’re always pleased to offer a free personalized demo of this feature so you can see that managing Airbnb and Stripe payouts, and reviewing the transactions details, is quite simple.

Get in touch and learn how we can help you audit financial transactions with ease!

Stay updated with all our exciting feature releases and be the first to implement them for streamlining your Short-Term Rental trust accounting and bookkeeping operations.

For information on how to use this feature, see the following help article: How to Analyze your Online Travel Agency (OTA) Payout Details within Clearing

Clearing is a Financial Technology Company, not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

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