How to Set Up a Ledger

Your ledgers allow you to allocate specific items that generate revenue, for example all add ons pertaining to transport will be allocated to your transport ledger, this in turn reflects in the revenue generated from transport within your financial reports and your accounting software.

Once your separate ledgers have been created, your add ons (when selected within a reservation) will be automatically allocated to the correct ledger.

This minimises staff input errors as well as keep precise track of where your revenue is generated from, all while categorising each stream.

Here’s How To Set Up a New Ledger:

Click on the Property Set-up Icon and select Ledgers at the top of your screen.

Click on New Ledger in the top left corner.



Add the name of your ledger eg: Food and Beverages.

Give your ledger a code (Numerical only)

Enter the VAT amount to be charged on this specific ledger in the Add-on.

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).

Click Save. (Be aware that once you press save you will not be able to edit the ledger. Since it is permanent be extra sure to enter the correct VAT amounts and codes).



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



You can also now allocate the add-ons you create within a reservation. If all of your Add-ons are allocated to a ledger in the Add-ons tab, the fields will come up automatically 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 in the event 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 would like to set up your accounting connectivity click here.

RoomRaccoon connects with a few partners:

Twinfield
Quickbooks
Zero
Sage
Exact online
Unit 4

FAQ

Will an invoice be entered into my accounting system?

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

Is there a cost for this link?
Yes, the link costs £50 per month this includes ledgers and financial reports.
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