Opening balances

Opening balances explain your trust bank balance on your go-live date. You record them once, during onboarding. Open Settings > Opening Balances for every step below.

The trust balance on go-live is made of:

1. Advance deposits: guest payments received for stays after go-live.
2. Owner balances: what you owe owners or what owners owe you.
3. Taxes payable: guest taxes collected and not yet remitted.

Check the bank opening balance

1. Go to Bank Reconciliation.
2. Click the menu next to the bank account and select Edit.
3. Check that the opening balance is dated on your go-live date.

To change the date, remove the opening balance, save, add it again with the right date and save. The date is locked once a bank record of the account is matched. Undo every match first, change the date, then reconcile again from the new date.

Add listing starting balances

On the Add Starting Balances for All Listings card, select Review listings. Enter each listing’s balance, or import them all:

1. Click Upload CSV and download the template. It lists every listing with its ID and any balance already entered.
2. Fill in the balances and upload the file.

An import can overwrite balances you already entered.

Enter taxes payable

On the Enter Taxes Payable card, enter the taxes you collected and have not remitted yet. The offset account is Opening Balance Deficit, so the entry does not touch the current period.

Review advance deposits

On the Review Advance Deposits card, click Update. VRTrust shows the payouts it found for reservations after go-live.

• Select reservations already in VRTrust, or upload a CSV with the columns Reservation ID and Posting Total. The reservation ID is the one from your PMS. VRTrust shows it under the guest name on the Reservations page.
• A payment followed by a refund with a total of zero usually belongs to a cancelled reservation. Delete it.
• Click Submit. VRTrust records the deposits on your bank feed start date against Opening Balance Deficit.

You can edit the entries later.

Surplus and deficit

After all opening balances are recorded, the rest of the trust balance is a surplus or a deficit.

• Surplus: the trust account holds more than you owe. Common causes are commissions you have not moved to your operating account yet.
• Deficit: the trust account holds less than you owe, often because owners or you were paid before guest funds cleared. Watch a deficit closely.

Do not force either to zero. The goal is a trust balance that matches the bank and a difference you can explain.

Payments after go-live for earlier bookings

A reservation that was paid in full before go-live shows zero in VRTrust. When its payment arrives in the bank after go-live:

1. Go to Deposits and add a deposit dated on your go-live date, in the bank account that received the money.
2. Describe it as the adjustment for the reservation.
3. Enter the payment total as a negative amount.

Then check that the reservation shows no negative payment and that accounts receivable is right.