Accounts

Every transaction posts to accounts of your chart of accounts. Open Settings > Accounts. VRTrust starts you with a chart of accounts and account assignments made for short-term rentals.

Add or duplicate an account

Click Add Account, choose the type, name, classification (asset, liability, revenue or expense) and category, and save. To reuse an account’s setup, open its menu, select Duplicate, change the name and click Add Account.

Owner revenue and expense accounts must be mapped in the owner statement template, see Owner statement templates.

Account assignments

An assignment names the account VRTrust uses on its own for a kind of posting. They are in the last column of the accounts list.

Assignment	Used for
Payout Distribution	Owner payouts from published statements. A bank account. Each owner can have their own payout bank account.
Accounts Receivable	What guests owe. Rises with reservations and financial adjustments, falls with payments.
Accounts Payable	Unpaid expenses
Deferred Revenue	Revenue collected and not yet recognized
Cancellation Revenue	Money kept from cancelled reservations
Deposit Reserve, Deposit VAT, Deposit Channel Fee, Deposit Merchant Fee	The parts of a deposit line
Deposit Co-Host Payout	Payouts to co-hosts and others from a deposit
Expense Markup, Expense Sales Tax	Markups and taxes on expenses and fees
Expense Reimbursement	Owner expenses paid from an account outside VRTrust
Opening Balance Account	The offset of opening balances. Only an asset, liability or equity account can hold it.
Due to/From Trust	Money that crosses between trust and operating accounts. Managed by VRTrust.

Accounts receivable and accounts payable can never be picked by hand. On the trust ledger, an owner’s balance can only sit in a few accounts: receivables, payables, deferred revenue, lodging taxes payable, security deposits payable and owner payables. Everything else lands on the manager. That is why some accounts are greyed out when you code a transaction.

Reference accounts

A reference account records an amount from your PMS that is not revenue or expense, such as the Booking.com host fee, which is not part of what the guest paid. It posts no ledger entries. Fees can still use its amount, see Booking channel fees.

1. Click Add Account and choose the type Reference. Name it, for example “Booking.com Channel Commission - Reference”.
2. Map the PMS channel fee line to it under Settings > Accounting Preferences. Keep Airbnb’s channel fee on the channel commission account, with an exception per channel, see Reservation lines.

On a Booking.com reservation, the fee from the PMS then shows struck through.