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Data Flow Review
Step 1. Navigate to Listing Settings Page
In Bnbtally, the Listing Settings page is where you set the rules for when an income and a refund event takes place for a specific listing. To get to the listing settings page, navigate to view all your Listings and select a listing to edit.
Step 2. Create Invoice
To create an invoice rule, press the plus button [+] below the Reservation Income event. What this means is that for every reservation payout that you receive from Airbnb, Bnbtally will create an invoice in Xero following the rules you set here.
Step 3. Set Contact for Invoice
On this invoice, you can set the guest as the customer of the invoice, but you can also set any existing customer from your Xero organization. You can also set a Customer Group, but this is not required.
Step 4. Review Airbnb Price Item Column
Each price item you see here is found in an Airbnb itinerary for each reservation. These will show up in Xero as line items in your invoices. You’ll see here an Accommodation Fare, Cleaning Fee, Airbnb Service Fee and Resolution Adjustment - all these price items need to be defined in order successfully save your rules in Bnbtally. Each price item is explained in detail here...
Step 5. Review Percent Column
Many users set 100% allocations of each price item into a single allocation within Xero. However, there are plenty of scenarios where it is appropriate to split an Airbnb Price Item into more than one allocation with a percentage split.
Say for example that you're a Property Manager and you collect a 20% commission on the Accommodation Fare. With Bnbtally, you can easily allocate 20% of any Airbnb Price Item to a specific commission code and set the remaining 80% to a Rents in Trust code (for example). You can do this by selecting "Add Line", select "Accommodation Fare" and then set the percent column to 80%. With Bnbtally, you can split an Airbnb Price Item into any number of lines.
Less than or equal to 100%
Greater than 100%
Negative Percentages (-%)
Step 6. Review Xero Item & Account Columns
NOTE: To see your Xero Item column, Items need to be enabled in your Connection settings.
Use the Item column if you've set up Product/Service Items in Xero (Xero Items are optional). Otherwise, set the Xero Account directly. The lists you see from the drop-down menus are pulled directly from your Xero organization and are specific to what you set up in Xero. If you need help setting up your Xero organization so that a list of Product/Services show up here, you can import a common set of Chart of Accounts and Product/Service codes using the "Set Up Xero" utility in Connection's Settings.
Step 7. Review Tracking Categories
With Bnbtally you can also assign multiple Tracking Categories for each line. This is powerful in Xero and is strongly recommended, this helps to generate Income Statements and Balance Sheet reports for each specific listing in Xero.
Step 8. Allocate Multiples & Fixed Amounts (Optional)
If you need to allocate a fixed amount based on multiples of the number of nights, number of guests, or perhaps a one-time charge for a reservation, this is where you can configure such rules. First, click "Show Multiples & Fixed Amounts" to display the section.
From here, select the multiple you’d like to use (Per Night, Per Guest, Per Reservation, etc...) and enter the static amount. Then select which Item or Account to allocate and select the price item to subtract the total amount from. Bnbtally will multiply the static amount by the number of nights, guests (etc...) to the reservation and allocate it to your selected item/account in Xero. We'll then subtract the amount from the remaining price item which will be further handled by the percent rules.
Step 9. Automatically Apply Payment using Payment Clearing Account
The last thing is to make sure that the Automatic payment box is checked if you’d like Bnbtally to automatically apply a payment to each invoice created using your payment clearing account. This is usually recommended if you're receiving the Airbnb payouts directly from Airbnb.
For more information about the Payment Clearing Account and how it is used by Bnbtally, click the following link...
Step 10. Set Refund Rules
Moving on to refund rules. Now that we’ve created an invoice rule for your reservation income, don’t forget to set a refund rule as well. For this press the plus button [+] under the refund event and select refund receipt. Some users set this the same as their income rule but most use different item/account codes for refunds because they want to track refunds separately within Xero. Either way is fine.
Step 11. Review Payout Account
Before you save your listing rules, check the Payout Account selection to make sure it’s correct. If you have a split payment routing rule within Airbnb, you’ll need to select the correct account to apply these rules.
Step 12. Save Listing Settings & Go to Historical Import
Once you’ve completed your configurations for your listing, be sure to save it. The moment you save your listing rules, Bnbtally will begin to sync all your reservations starting from today and onward. If you'd like to import any reservations that took place in the past, the next step is to import your reservations using the Historical Import feature...
Related Guide: Airbnb Accounting & Bookkeeping: A Comprehensive Guide