How To Set Up a New Ledger

In RoomRaccoon, you can allocate specific items that generate revenue for your property to certain ledgers. For example, all add-ons pertaining to transport will be assigned to your transport ledger. This will reflect the revenue generated from transportation within your financial reports and your Accounting Software.

Once you've created your separate ledgers, your add-ons (when selected within a reservation) will be automatically allocated to the correct ledger. This minimises staff errors and keeps precise track of where your revenue is generated, all while categorising each stream.

How to set up a new ledger?

Step 1: Click on the Finance module on the left of your screen and navigate to the Ledgers tab.

Step 2: Click on + New Ledger in the top right corner of your screen.

Step 3: Add the name of your ledger, e.g., Food and Beverages.

Step 4: Give your ledger a code (Numerical only)

Step 5: Enter the VAT amount for this specific ledger in the Add-on.

Step 6:  Enter the VAT code. *This is very important to ensure smooth record-keeping, prevent any VAT-related mistakes from occurring or avoid a delay in invoices being sent out. (If you are connected to an accounting connectivity, your accountant will be able to provide the code for you).

Step 7: Click Save. (Be aware that once you press save, you cannot edit the ledger. Since it is permanent, be extra sure to enter the correct VAT amounts and codes).

Step 8: Once you have created your ledgers, you can allocate your add-ons to a type field when creating a new add-on. 

How to connect Add-Ons to a Ledger

Step 1: Click on the My Property module on the left of your screen.

Step 2: Under the Add-Ons tab, click on the pencil icon next to the add-on you want to connect to a ledger.

Step 3: Now assign the add-on to the correct ledger account by clicking the dropdown arrow and clicking save at the top right of your screen.

Step 4: If all your add-ons are allocated to a ledger, the fields will automatically appear in your reservations. This minimises staff errors and keeps track of all your revenue streams.

Good To Know!

• Once you have created a ledger, you cannot edit it.

• If this does happen, you can create a new ledger and archive the old one by clicking the archive icon to the far right. These can be unarchived at any time.

• If you have not yet and want to set up your accounting connectivity.

FAQ

Will an invoice be entered into my accounting system?

We work with a cash system and not with an invoice system. This means all components (accommodation, add-ons, taxes, etc.) are split up and linked to the correct ledger account.

Is there a cost for this link?

To get the link, the client has to upgrade to a different package (Starter, Premium, and Enterprise). This includes ledgers and financial reports.