This article describes the Daily Financials report, which shows the debit, credit and net movement posted to each General Ledger Account Code (GL Acc Code) for a property over a chosen date range.

Overview

The Daily Financials report totals the financial transactions RMS has posted to each GL Acc Code for a property over a selected date range.

It is typically run by accounts or finance staff who need a daily general ledger movement figure, either to reconcile against an external accounting system or to check the postings behind a specific day's activity.

The report can show either one summarised row per GL Acc Code, or every individual transaction that made up that total.

Please Note! RMS is highly configurable. Some Terminology, User Access & Permissions, Images, Labels, and Functions used in these articles may differ from your setup. CLICK HERE to find out more.

Use Cases

• Daily reconciliation with an external accounting system - the accounts team exports the report to CSV each day and imports it into external accounting software to check RMS-recorded revenue against the property's chart of accounts.
• Investigating a GL Acc Code movement - if a GL Acc Code total looks wrong for a specific date, switching Report Type to Detailed lists every individual transaction (including voids) that made up that total, without opening each reservation.
• Automated delivery to finance - properties that need the file delivered on a recurring basis use Schedule instead of exporting on demand, to receive it as a PDF or CSV automatically.

How to Access

In the side menu of RMS, go to Reports > Management > Financial > Daily Financials.

Please Note! Daily Financials does not render an on-screen preview like most reports. Use Export to CSV to download the file immediately, or Schedule to receive it automatically as a PDF or CSV.

Report Options

The report options below control the date range, the property and the level of detail in the exported file.

Column Headers

The columns below appear in the exported file. Selecting Report Type: Detailed keeps every Summary column and adds six transaction-level columns.

Summary column headers

Detailed column headers (in addition to Summary)

Data Sources & Calculations

The following concepts govern more than one column above.

GL Acc Code postings

RMS posts every financial transaction, such as a charge, receipt, adjustment or void, as a debit and a credit to two GL Acc Codes, following the property's GL Acc Code Hierarchy. In Summary, GrossAmountDebit and GrossAmountCredit are the totals of every debit and credit posting to that GL Acc Code on that date, and GrossAmountTotal is the net movement between them. For example, if a charge is posted and then voided on the same day, that GL Acc Code's debit and credit totals both increase, but its GrossAmountTotal returns to zero because the two postings cancel out.

Report Type: Summary vs Detailed

Summary groups every transaction posted to the same GL Acc Code on the same date into a single row. Detailed removes that grouping and lists each individual transaction on its own row, which is why it carries the extra AccountNo, TransNo, CreatedDate, ReservationNo, TransactionDescription and Username columns - these identify the specific transaction rather than describing an aggregated total.

Related Reports

• Company Revenue Report - shows revenue generated by each company account.
• Facility Usage and Revenue Report - shows usage and revenue for bookable facilities.
• Liabilities Report - shows the property's outstanding liabilities.

Related Articles

• Set up General Ledger Account Codes
• GL Acc Code Hierarchy