Clearing is a revolutionary financial management solution crafted exclusively for Short-Term Rental operators. It is aimed at simplifying complex processes like manual bookkeeping, expense allocations, trust accounting, and payout management. Acting as a comprehensive tool, it enables property managers to streamline their financial workflows efficiently.
This integration requires both a Clearing and a Lodgify subscription.
Clearing Features and Benefits
Automated Bookkeeping
Clearing’s Automated Bookkeeping simplifies transaction categorization and allocation per property, eliminating manual efforts. It consolidates diverse financial data sources, streamlining processes without the need for extensive spreadsheets. The self-operating reconciliation efficiently matches booking details with bank deposits, offering pre-categorized lists for each payout, including cleaning fees, host fees, taxes, and more. Customizable rules enable automated bookkeeping, providing a swift and efficient closure to your financial books.
Trust Accounting
Clearing’s Trust Accounting feature effortlessly organizes and collects funds by homeowner or property group. The use of zero-balance accounts guarantees precise and automated fund allocation. This feature streamlines commission tracking, eliminating any confusion with homeowner payouts. Moreover, Clearing facilitates direct payments to homeowners, vendors, and utility companies, offering an intuitive and efficient solution for Short-Term Rental financial management.
Expense Management
This functionality allows you to effortlessly track and categorize all your expenses in a unified view. Clearing automates the categorization and allocation of transactions by property, ensuring consistency. Seamlessly split transactions across various listings and add collaborative notes to enhance communication with your accountant. Attach receipts to transactions for a comprehensive record and easily filter transactions based on homeowners, properties, categories, dates, and more.
Reporting
Clearing’s Streamlined Reporting eliminates the need for manual spreadsheets during accounting and financial management business processes. This feature automates reporting by category and property, providing real-time insights into your cash flow. Effortlessly filter and compare listing performance to optimize your operations. In addition, generate owner statements with ease, customize them according to your preferences, and share directly with property owners. Leverage the opportunity to improve collaboration by extending invitations to your accountant and team. Further, generate Profit & Loss (P&L) statements on demand, for the entire business, for each individual property, or for groups of properties.
This integration requires both a Clearing and a Lodgify subscription.
