While simply creating a single full Invoice for each reservation is the most common use case, Bnbtally supports multiple business models found in the short-term rental industry. If you don't need to allocate 100% of the revenue from your Airbnb reservation payouts, then you can create Invoices that represent only a partial amount. We also support configuring multiple Invoices per reservation as well. In other words, when you receive a payout for a single reservation on Airbnb, Bnbtally supports importing multiple Invoices - full or partial Invoices - whenever a payout event takes place.
- One Partial Invoice per Reservation: Let's say you're managing Airbnb listings on behalf of a client. However, your client receives 100% of the revenue directly from Airbnb. In this case, you need to create a partial Invoice for a portion of each reservation and set your client as the customer. This way your client can pay you for your services later on.
- One Full Invoice and One Partial Invoice per Reservation: You're a Co-Host, and you receive 15% of each reservation via a payout split directly from Airbnb, which you create a full Invoice for in Bnbtally. However, in this case, the owner has agreed to pay you an additional amount for each reservation to cover cleaning and turnover services, which requires you to create a partial Invoice in addition.
- Two Partial Invoices per Reservation: You created a single listing to represent more than one unit in a multi-unit property, which you allow larger groups to reserve in a single booking. However, Airbnb is paying out to a single bank account and you want to create two partial Invoices to represent the revenue for each unit with their own separate set of allocation rules and customer settings.
- One Full Invoice per Reservation: This is the most common case and is not the focus of this article - but we need to mention this. Regardless of whether you're an Owner, doing Rental Arbitrage or you are a Property Manager earning a commission - in any of these cases - if you don't need to collect any additional amounts outside of your Airbnb payouts, then you likely only need to create just one full Invoice for each reservation payout and you do not need to set up any additional partial Invoice. If this is your case, you don't need to read this article.
How to Create a Partial Invoice
Under the Listings Manager, select any listing to edit. In your listing settings, create an Invoice by selecting the plus [+] button under "Event: Reservation Income". At the very bottom of the Invoice there is an option labeled "Require Complete Allocation of all Price Items", be sure to disable this checkbox.
That's it! The requirement to define 100% of all price items is lifted and now you can simply define whatever partial amount you need to allocate in the Invoice.
You're also able to do the same for any refund events.
What other behavior changes are involved with a partial Invoice?
- For full Invoices, any Multiples & Fixed Amounts defined will be subtracted from a selected price item before the Ratio Rules are followed. However, this is no longer the case for partial Invoices. For partial Invoices, any Multiples & Fixed Amounts will not be subtracted from ratio amounts.
- For full Invoices, ratio rules are required for all price items. However, for partial Invoices, ratio rules are optional and you can solely define Multiples & Fixed Amount rules if needed.
- Rounding. Any amounts in the thousands place that is 5 or greater will be rounded up to the nearest cent. This means $1.005 will be rounded up to the nearest cent ($1.01) while $1.004 will be rounded down ($1.00).
How to Create Multiple Invoices per Reservation
Under the Listings Manager, select any listing to edit. In your listing settings, create an Invoice by selecting the plus [+] button under "Event: Reservation Income". Once you've completed your configuration of this Invoice, create a second Invoice by selecting the plus [+] button again. That's it!
For more details about Bills and use case scenarios surround the use of Bills, be sure to read the following article...
NOTE: Be sure to check with your accountant if you have any hesitance on what you should be setting up for each reservation and specifics for your business model.