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For property managers working with Short-Term Rental trust accounting practices, maintaining accurate financial records and ensuring owner transparency is essential. Integrated Property Management Software (PMS) systems often bring in booking financials that may need adjusting or categorizing for specific owner payments, fees, or taxes. Clearing’s “Other Formulas” feature allows property managers to create custom formulas that can calculate new booking data out of existing booking information, improving financial reporting and overall financial management for your vacation rental business.

Clearing empowers property managers with precise formula management tools that help automate complex financial reporting requirements for Short-Term Rentals. By creating custom formulas, adjusting output categories, setting up formulas for specific bookings, and deriving new financial data from existing booking details for reporting, you can streamline bulk mathematical handling and enhance reporting capabilities. With options to exclude income lines or create additional tax categories like jurisdiction-based lodging tax formulas, property managers can ensure compliance, simplify reconciliation, and keep owners fully informed of financial activity.

Login to your Clearing account and navigate to the “Rules” section in the side menu. Here click on the “On Bookings” option, and then select the “Other Formula” option.

If no formulas are set, you can click the “+” button to create a new formula.

Use the filters on the left to choose specific criteria, such as bookings for a particular homeowner, asset, and/or channel.

Once set, define the formula that will apply to those bookings.

Set up an output category for the formula’s result, like net payout or a new tax category.

Choose an accounting field for the output: either “to owner”, “to management”, “exclude”, or “tax”.

You can use the exclude option to exclude original income lines (e.g., accommodation fare or host fee) and avoid double entries in financials. Check the relevant checkbox as shown below to do this.

Once the formula is defined, go to the “bookings section” and filter for the particular owner, asset, or channel, for which you defined the formula.

Choose any booking and click on “open” button to see booking details.

Once opened, scroll down and find the particular formula that you have defined and click the “Apply” button.

Once applied to bookings, you can see changes in the booking financials resulting from the applied formula.

If you want to apply formula only to bookings that you manually select, you can set a formula’s status to “Manual”. This is as described in the previous section.

If you want to apply the formula to all existing bookings and to all bookings moving forward, you can set a formula’s status to “Active”. Once made “Active” you can use the “Apply formula” button to apply the formula to all current bookings. On going bookings will also have this formula applied.

Explore Clearing’s formula management tools and derive new data out of the existing booking information, as per your Short-Term Rental property management needs.

Are you ready to streamline your financial management and enhance owner transparency?

Connect with us now for a live demo, and learn how to create & manage “other formulas” for your bookings in Clearing.

Explore our comprehensive knowledge base today to dive deep into Clearing's features to embark on a journey to revolutionizing your financial bookings management experience.

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