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:
Next, you can add the item when creating a sales transaction, either an invoice or a sales receipt.
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.
I have the same question as the OP. When I use your solution, my vacation rental sales show as doubled on the Dashboard and on the Sales Overview Income Over Time graph. They now get counted once when VRBO deposits the Guest's payment directly into my bank account, and they get counted a second time when I enter a Sales Receipt to track it, per your solution. How should this work?
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:
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.
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:
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.