Hi Everyone,
I'm a small business owner who works on my own so I am not a skilled accountant in any way. I have an issue with a payment which I am unable to resolve so wanted to reach out to the accountants in the community to try & seek advice on how to best resolve my issue. Here's what's going on.
I rent multiple vacation homes via Airbnb. In QB desktop I have every home I rent set up as it's own 'other current liability' so it has it's own liability account for rental monies we collect & distribute to our home owners we manage property for.
I had a guest arrive & Airbnb sent payment. Then 48 hrs in to the stay, the guest cancelled & departed due to the AC failing & we could not get parts quick enough to fix. We agreed to a full refund.
Here's the issue. We already had the payment therefore the only way guest could be refunded was Airbnb deduct the refund due to the guest from a future payment due to us and from another guest plus it was for another house I rent out so a different liability account.
By Airbnb deducting the refund from another payment due for another house, I did not receive enough funds to 'pay' the current due invoice for the other house.
I've tried moving the credit issued to the guest with the AC issue to try & 'pay' the outstanding invoices affected by the deduction but I cannot figure out how to do it. I tried doing a general journal entry but it didn't change or move money from one liability to another.
How would an accountant tackle something like this? I hope I've explained it well enough for the community. Any help or guidence would be most appreciated!
