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How to Change the Recognized Date for Future Bookings in Clearing
How to Change the Recognized Date for Future Bookings in Clearing

Discover the process for adjusting the recognized date on future booking reservations from within the Clearing financial management software

Corey Reid avatar
Written by Corey Reid
Updated over a month ago

In Short-Term Rental property management or vacation rental management, keeping accurate financial records for future bookings can be a perplexing challenge. When revenue payouts from Stripe hit the bank account, these transactions are automatically recognized based on that date, creating confusion for property managers and homeowners alike. Imagine receiving payment today for a reservation scheduled months ahead; this misalignment between payout and booking date can puzzle both property managers and homeowners who receive periodic homeowner statements. The default recognition process doesn't always align with the booking date, making accurate accrual accounting a puzzle. This is where Clearing steps in as the solution to this challenge by empowering users to easily adjust the recognized date of these transactions and account for revenue in the month of the actual booking.

Clearing, a leading platform in vacation rental financial management, has introduced a user-friendly feature that allows property managers to adjust the recognized date associated with their individual bookings. This feature ensures that revenue is accounted for in the specific month of the reservation, aligning financial records with booking dates and ensuring accurate accounting for future bookings. With bookkeeping automation and recognized date configurability capabilities, Clearing simplifies reconciliation of financial transactions allowing property managers to confidently close their books, faster than ever before.

Simple Steps for Changing the Recognized Date of Future Bookings in Clearing

Step 1: Access the Bookings Section in Clearing

Log into your Clearing account and navigate to the “Bookings” section in the side menu. This is where you'll find a centralized view of all your bookings, regardless of their source (e.g., Airbnb, Vrbo, Booking.com, your direct booking website, etc).

Access the bookings dashboard in Clearing

Step 2: Choose the Booking you want to Adjust

Scroll through your bookings until you find the specific one for which you need to adjust the recognized date.

Choose the booking you want to adjust

Step 3: Adjust the Recognized Date

Once you have chosen the booking you want to adjust, look for the "Recognized on" option. If this value needs to be changed, then click "Open" to see more options related to booking details.

Open the booking details to adjust the recognized date on a booking

Click on the "Recognized date" option and customize the date according to your teams revenue recognition needs.

Select the date that the booking should be recognized on

When you enter the “Rules” dashboard and click the "On bookings" tab, you can set the default "Recognized date" by using that option. Clearing currently allows for two system default recognized dates. These are, recognize on "Arrival" date, and recognize on "Departure" date. Click on the particular option you prefer, or you can opt for a "Custom date" by clicking on and adjusting the "Recognized date" option in the individual bookings. If you'd like to split larger bookings over a months end, to be even more accrual based, you can also do this in the booking details of a booking that goes over a month's end.

Open the booking details to adjust the recognized date

Take Advantage of Clearings innovative recognized date feature and effortlessly adjust the date that financial transactions should be recognized to align your financial records accurately with booking details.

Ready to optimize your financial bookkeeping for future bookings?

Connect with us for a personalized demo and discover how to change the recognized date for future bookings in Clearing.

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

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

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