In the fast-paced world of Short-Term Rental property management, efficiency and accuracy of financial information is paramount. Managing finances can be especially time-consuming, often requiring manual processes that are prone to error, which can distract you from your core operations and guest services.
Recognizing this pain point, Clearing and Hostfully have joined forces to provide a seamless bookkeeping solution for property managers that use Hostfully as their Property Management Platform (PMP).
Through our integration, Clearing ingests all property and booking information from Hostfully. This information is leveraged to match against bank account transactions and provide detailed records for each line item within the transaction. This integration ultimately creates a streamlined trust accounting set up, liberating property managers from burdensome manual tasks, and massive spreadsheets.
This powerful collaboration between Clearing and Hostfully is poised to transform how property managers handle their financial processes, bringing an unparalleled level of automation, accuracy, and ease to closing their books.
Integrating Clearing with Hostfully
Hostfully Setup Steps
The following will be completed from within Hostfully.
Step 1: Turn on the integration from Hostfully’s integrations page
Navigate to your settings menu, and click “Integrations”.
Scroll down to the accounting section, and find “Clearing”. You will now toggle this “On”.
Step 2: Adjust settings for the integration
Click the settings button once the system is toggled on, so that you can complete the setup.
Step 3: Toggle “On” each of the properties
Once you have entered the settings section for the integration, go through the list and toggle on each of your properties. This will allow for the integration to start communicating with Clearing for each of your properties.
Clearing Setup Steps
The following will be completed from within Clearing.
Step 1: Initialize the integration from within Clearing
Step 1.1: Already signed up for Clearing? - follow these steps:
If you have already signed up for Clearing and can access your dashboard - the first step will be to click your name in the bottom left of the platform and select “Integrations”.
Select “Hostfully” from the following list.
Enter your Hostfully UID (Find Your Agency UID) and click “Connect”.
Step 1.2: Going through onboarding with Clearing? - follow these steps:
If you are currently signing up for Clearing and are going through the onboarding steps, you will be brought to a page where you can select your Property Management Software. Choose “Hostfully” here and submit your Hostfully UID, which can be found here: Find Your Agency UID.
Completing the Integration
Step 1: Confirm your assets from within Clearing
Once the integration has been completed, your properties will pull into Clearing automatically - if they don’t show up, you can click the “Refresh” button so long as both of the previous steps have been completed.
Step 2: Configure your assets from within Clearing
Complete this step by first naming your assets (or leave them the same as how they are named in Hostfully which will appear automatically).
If you want to group properties, for any categorization needs, you can complete that now (this can also be done later).
In general, people tend to group their assets by buildings or cities, but the flexibility of Clearing’s platform allows you to group properties however you desire. If a new group is needed, you can create new groups from this step by clicking the plus sign beside the group column title. There is also no requirement to group your properties - it’s completely up to you!
Step 3: Rock and Roll! 🤘
That’s it!
You have completed the integration, congratulations!
You are now ready to leverage all the automation Clearing provides to simplify your bookkeeping and streamline your Trust Accounting.
By now, you've taken the first step towards transforming your property management finances by integrating Clearing with Hostfully. Your journey towards automated bookkeeping, reconciliation, and efficient payout processes begins now. Move forward with confidence knowing that the power to automate and streamline your financial management is right around the corner.
Don’t hesitate to reach out to our dedicated Clearing support team for any additional guidance or support needed as you explore and optimize your new financial management system.
Together, we'll simplify the financial management of your property management business - so let’s get going!
Up next, dive into the platform and start automating your bookkeeping!
Stay tuned for more knowledge articles and exciting product announcements that will further enhance your financial management processes!
Clearing is a Financial Technology Company, not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.