A list of strategies that those in the vacation rental industry are implementing in order to best deal with the overwhelming number of cancelations and changes they have faced.
The right choice of accounting software helps track the profitability of your vacation rental business and provides the information you need when it is time to file your taxes. If QuickBooks Online is your software of choice, you will have to decide among several versions of the software. Here are some pointers that compare how…
Trust accounting is a system used to manage funds that a company collects and manages on behalf of someone else. Trust accounting allows a property management company to track how much money it is holding on behalf of each property owner. It helps to make sure the money is available when it is time to…
Ready to set up a system to keep track of your short-term rental business’s finances? Here are a few thoughts to consider about some of the more popular choices. Spreadsheets Pros They are easier to understand for those who do not have an accounting background. Income and expenses can easily be separated for each property….
When you started out in the vacation rental business, you probably were not expecting to have to weed through technical accounting terms like cash and accrual. Let’s look at the two methods of accounting, see how they relate to short-term rentals, and look at the advantages and disadvantages of each. Remember to always consult your…