Feature Release: Effortlessly Change the Recognized Date for Future Bookings in Clearing

Effortlessly change recognized dates for future bookings with Clearing's innovative feature. Optimize financial record-keeping and boost transparency.

August 29, 2023


Feature Release: Effortlessly Change the Recognized Date for Future Bookings in Clearing

Property managers often face challenges when keeping accurate financial records for future bookings. When revenue payouts from Stripe are received, these transactions are recognized by default based on when the money hits the bank account. This default recognition can lead to confusion, particularly for those handling bookings made well in advance. For instance, a property manager receives payment today via Stripe for a reservation that's months away; this misalignment between payout and reservation date can puzzle both managers and homeowners who receive periodic homeowner statements. This issue highlights the need for a platform that allows property managers to easily adjust the recognized date of these transactions, allowing them to account for the revenue in the month of the actual booking.

Clearing offers an innovative solution to this challenge by empowering users to easily change the recognized date of their financial transactions. This feature ensures that revenue is accounted for in the specific month of the reservation, aligning financial records with booking dates. This accuracy in financial reporting can prevent disputes with owners and simplify bookkeeping for property managers. By providing automated bookkeeping and recognizing transaction capabilities, Clearing facilitates the smooth reconciliation of financial transactions, enabling property managers to efficiently close their books with confidence.

Clearing's platform now includes a user-friendly feature that allows property managers to adjust the recognized date associated with their accounting transactions. Whether a booking originates from Vrbo, Booking.com, their own booking website, or other Online Travel Agencies (OTAs) that make the property manager the merchant of record, users can opt to have the transaction recognized on the arrival date, departure date, reservation date, or a custom date of their choosing. This flexibility guarantees that the revenue is attributed to the correct month, improving financial transparency and ensuring accurate accounting for future bookings.

With Clearing, property managers can effortlessly adjust the date that financial transactions should be recognized to align with the booking month or check-in/check-out date. If a booking is made months in advance but the payment arrives promptly, property managers can now align the transaction's recognition with the actual month of the reservation. This comprehensive solution ensures precise financial record-keeping and minimizes the complexities associated with payment processing, being merchant of record, or transaction reconciliation.

Furthermore, by providing property managers with the ability to adjust the recognized date, Clearing ensures that homeowner statements accurately reflect the revenue associated with each booking. This not only enhances transparency but also minimizes confusion and potential disputes.

Effortlessly adjust the recognized date for your financial transactions with Clearing's innovative feature. Say goodbye to homeowner revenue disputes and regain control over your financial records by aligning the financial transactions with booking dates.

Connect with us for a personalized demo and discover how Clearing can optimize your financial bookkeeping for future bookings.

Curious about how to change the recognized dates for future bookings?

Look no further!

Explore our knowledge article to uncover valuable insights and step-by-step instructions on adjusting the recognized dates for future bookings in Clearing, ensuring that your financial records accurately reflect the revenue associated with each booking.

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

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