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Level 1

What is the best way to manage a vacation rental if it is just ONE home rented only via Airbnb or VRBO?

 
6 Comments
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QuickBooks Team

What is the best way to manage a vacation rental if it is just ONE home rented only via Airbnb or VRBO?

Hi there, @chrisjkennedy315.

 

I'm here to provide the best way in managing the vacation rental in QuickBooks Online.

 

First, you need to create a service item for the home rental. Here's how to do it:

  1. Click Sales.
  2. Choose Products and Services.
  3. Click New.
  4. Select Service.
  5. Enter the item information.
  6. Click Save and close.

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Next, you can add the item when creating a sales transaction, either an invoice or a sales receipt.

  1. Click the Plus icon.
  2. Choose Invoice or Sales Receipt.
  3. Enter the transaction information.
  4. Click Save.

 

That should help you manage the rental of your customers, @chrisjkennedy315.

 

I'm still here to help you more if you have additional questions. Just drop a comment below. Have a good day.

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Level 1

What is the best way to manage a vacation rental if it is just ONE home rented only via Airbnb or VRBO?

Hi 

Highlighted
QuickBooks Team

What is the best way to manage a vacation rental if it is just ONE home rented only via Airbnb or VRBO?

It'll show as duplicate if the payment from your bank was added instead of matching it to the manually recorded Sales Receipt, rwulfert.

 

Once a bank transaction is downloaded, use the Match function so you can attach it to the Sales Receipt. Follow theses steps to match them together: 

 

  1. Go back to the Banking menu, the proceed to the For Review tab.
  2. Look for the downloaded payment, then click on it.
  3. Click Find Match.
  4. Look for the Sales Receipt.
  5. Click Save.

More details about this are discussed in this article: Download, match, and categorize your bank transactions in QuickBooks Online.

 

You can also go back to the Income or Sales report every now and then to check if the amount is already accurate. 

 

I'll be around if you require additional help while categorizing your banking transactions.

find match.PNG

 

find match 2.PNG

 

 

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Level 14

What is the best way to manage a vacation rental if it is just ONE home rented only via Airbnb or VRBO?

@rwulfert 

Explore this app for your business and integrate it with your QBO.

https://uplisting.grsm.io/uplisting

 

Hope it helps.

 

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Level 1

What is the best way to manage a vacation rental if it is just ONE home rented only via Airbnb or VRBO?

Thank you JenoP, I'll go in and experiment with this now. I appreciate your prompt response, especially on a weekend.

R.

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Level 2

What is the best way to manage a vacation rental if it is just ONE home rented only via Airbnb or VRBO?

Hi @chrisjkennedy315, to build off of what @HoneyLynn_G is saying. Yes, for each reservation, you can create an invoice. But to go further, for each invoice, you probably want to split the Airbnb Accommodation Fare, Cleaning Fee and subtract the Host Service Fee so that you can get a better idea of your direct costs and actual revenue of each reservation. I recently wrote an article with some Quickbooks templates you can download here: https://support.bnbtally.com/en/articles/3571867-preparing-quickbooks-for-an-airbnb-rental-arbitrage...

 

There's also software out there that you can use to automatically import Airbnb reservations into Quickbooks Online as invoices 100% automatically. You may find this useful:

 

BNBTALLY: https://www.bnbtally.com/airbnb/quickbooks/integration

 

A bit about me.. I've been an Airbnb host for several years and I totally understand the pain of organizing Airbnb reservations for accounting. However, once it's done right, it's incredibly valuable! Feel free to reach out anytime.

 

Respectfully,

Jason

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