Feature Release: Manage your Booking Financials with Clearing

Simplify Short-Term Rental booking financials with Clearing! Automate commissions, customize owner statements and gain control over your financials.

November 14, 2023


Feature Release: Manage your Booking Financials with Clearing

Short-Term Rental (STR) property managers face a number of challenges that significantly impact their operational efficiency. The intricacies involved in handling vacation rental bookings, commission calculations, and generating accurate owner statements often lead to a time-consuming and complex process. Property managers grapple with the need to analyze all booking financials meticulously, including payouts from various Online Travel Agencies (OTAs), and commission calculations. The trust accounting and automated bookkeeping required for such transactions add another layer of complexity. As the Short-Term Rental market continues to grow, the demand for a comprehensive platform that can seamlessly resolve these challenges becomes more apparent.

Recognizing the multifaceted challenges faced by property managers managing Short-Term Rental bookings, Clearing steps in as a transformative solution and introduces a robust tool to manage booking financials effectively. The platform allows users to access a centralized "Bookings" tab, aggregating bookings from various OTAs, property management softwares, and direct booking websites. Users can filter and analyze bookings based on criteria such as booking ID, external ID, asset, homeowner, status, and listing sites. The feature includes the ability to customize what is included in owner statements, calculate commissions manually or automatically, and modify individual line items to ensure precise financial management.

Clearing's solution for managing booking financials is a comprehensive and adaptable platform designed to cater to the intricate needs of Short-Term Rental (STR) property managers. By offering a centralized "Bookings" tab, Clearing ensures that property managers can seamlessly handle vacation rental bookings originating from various Online Travel Agencies (OTAs) and direct booking websites.

One of Clearing's standout features is its ability to automate the complex process of calculating commissions for property management businesses. Property managers can leverage Clearing to effortlessly calculate commissions, whether utilizing predetermined commission formulas or opting for manual adjustments for specific bookings. This flexibility ensures that property managers have the autonomy to adapt commission calculations to the unique needs of their business.

Clearing's platform goes beyond basic financial management by allowing users to modify individual line items within each booking. This level of customization proves invaluable for property managers dealing with unique circumstances, such as one-off bookings that require specific commission adjustments. The platform also provides insights into the details of each transaction, showcasing the date of financial transactions, associated accounts, and a breakdown of line items, allowing for meticulous trust accounting and automated bookkeeping.

For property managers seeking to generate accurate owner statements, Clearing offers a solution that enables them to customize and modify statements based on specific criteria. This ensures that only relevant bookings are included, allowing for a transparent and precise representation of financial transactions. The platform's ability to include or exclude certain bookings from owner statements provides property managers with unparalleled control over their financial reporting.

Effortlessly manage and analyze your booking financials with Clearing's innovative feature. From handling vacation rental bookings to automating commission calculations, generating precise owner statements, and offering granular control over financial transactions, Clearing is your all-in-one solution.

Ready to take control of your booking financials?

Connect with us for a personalized demo and discover firsthand how Clearing can revolutionize your financial management experience.

Curious to learn more about how to manage and analyze booking financials?

Explore our in-depth knowledge article on this topic and uncover the benefits of precise financial management, automation, and customization with Clearing.

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

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