Explanations of options available within Accounting Options > Account Defaults tab.

Overview

The 'Accounting Options' > 'Accounting Defaults' tab offers a range of customisation options to configure the Property database.

Options include Accounting Method, End of Financial Year, Rounding, Balance Transfer, Transfer Invoice to A\R, Update Nightly Rate, End of Day, Automatic Open New Day, Transfer Credit on Departure, Credit Expiry, Cancellation Policies, Consumption Credit and Credit Card Reconciliation.

In the side menu of RMS, go to Setup > Accounting > Accounting Options > Account Defaults tab.


 

See further information on options below -

Accounting Method

The Accounting Method determines the means for revenue reporting and the available accounting functions in RMS.

Accrual Accounting is where revenue is reported based on when the charges are created on the account.

Cash Accounting is where revenue and expenses are reported when the receipts are created on the account.

Below is a summary of the key differences in these Accounting Methods.

Financial Year Ending

The end-of-financial-year setup is used in reports when selecting the 'Financial Year' date range option, or where a Financial Year to Date comparison is included.

Rounding Button

The Rounding option will determine the increment a transaction is rounded to when using the option on an account.

The rounding option is available under the 'Corrections' menu on accounts.
The rounding does not apply automatically and does not affect rate calculations.

Rounding to the nearest whole value occurs automatically for countries that do not include decimal places, including Vietnam and Japan.

Debit Balance Transfer GL Acc Code

A General Ledger Account Code can be set for Debit Balance Transfers between Properties.
The Balance Transfer transaction on the origin and destination accounts will use the General Ledger Account Code assigned.

Allow Same GL Acc Code on Categories

The Allow Same General Ledger Account Code on Categories option enables revenue reporting for multiple categories to be allocated to the same General Ledger Account Code.

General Ledger Account Codes are required on any revenue-generating setup in RMS, including Categories or Areas and Sundry Charges.

Transfer Invoice Balance to A\R Account

Only available if using Accrual Accounting.

Automatically Open New Day

End of Day is an accounting option that determines when the Accounting Date is rolled forward.

Automatic End of Day will roll the Accounting Date forward at the selected time of day.

This feature operates using the timezone set in Property Information.

Use End of Day Processing

End of Day is an accounting option that determines when the Accounting Date is rolled forward.

The Accounting Date is the transaction date or Financial Revenue date for charges and receipts.

Users will be required to open a New Day manually, using the New Day/Night Audit utility.

If the End of Day Process is not performed and transactions are posted on an incorrect Accounting date, Properties can consider the following options -

• Finish the current day on the incorrect Accounting Date, and factor this into the end of processes.

When completing the Open a New Day process, complete it twice to correct the Accounting Date.

• Reverse receipts and void charges that have been posted on the incorrect Accounting Date, then open a New Day.  Re-receipt the payments and re-create the charges.

Update Nightly Rate

The Update Nightly Rate option is used to specify the time of day the Nightly Rate will be created on reservation accounts.

Reservations must have an Arrived status to be compatible with this feature.

Do Not Create Rate Before

For use with Properties that have imported data and do not require charges on accounts before a specific date.

Transfer Credit on Departure

Credit Transfer on Departure is an option to automate transferring outstanding credit balances on a reservation account to the Guest Account when the reservation is changed to 'Departed' status.

Enterprise customers can select if the Transfer to Guest Account will be transferred to the Property Account or the Enterprise Account for that Guest.

The option 'Warn on Departure if Account is Active or Ignore Account State on Departure' is required to use this feature.

Users can follow the Guest Account Transfer steps to relocate the transferred credit from the Guest Account to a future reservation.

Users can also choose to apply the credit directly from the receipt screen.
 

Credit Expiry

Credit Expiry is an independent option. When a credit balance on a Guest Account reaches its expiry date, the selected Sundry Charge is posted to consume the balance. This applies whether the credit arrived via Transfer Credit on Departure or a manual balance transfer performed by a user.

The Credit Expiry can be manually updated on the Guest Account for users with Security Profile access.

When the Credit Expiry date is reached, the selected Sundry Charge will be created on the Primary Guest's Account to consume the credit balance.

The Sundry Charge used for the Credit Expiry must be a standard Sundry Charge and not a Credit Note.

Cancellation Policies

The Cancellation Policies setting includes a dropdown to select a Sundry Charge. The selected Sundry Charge is used as the property-wide default when a Cancellation Policy applies charges on cancellation of a reservation.

Only Sundry Charges are available in this dropdown - Sundry Groupings do not apply to this setting.

If no Sundry Charge is selected here, one must be configured on each individual Cancellation Policy Rule. See Cancellation Policies for more information.

Credit Card Reconciliation

For use to reconcile charges incurred by transactions on specific Credit Cards.

Allow Charge to Area

Compatible with POS Lite and 3rd party POS integrations that support this functionality and read from this field in RMS.

A maximum amount can be setup to limit charges. This value can be overridden on a reservation.

Charge to Area can be disabled on a reservation to prevent guests from sending charges to their reservation account.

Use Consumption Credit

Consumption Credit is a feature that only allocates the used portion of the entered value from the selected Sundry Grouping.

A credit value can be added as a Package component using a Sundry Grouping to determine the charges that will contribute to the consumption of the credit.

Any unused portion will be balanced off using the selected General Ledger Account Code.

Consumption Credit can be used to offer vouchers to guests, and only the used portion of revenue will be allocated to the General Ledger Account Code.