How to Set up Ledgers With Each Accounting Connection

Modified on Mon, 14 Nov 2022 at 11:06 AM

To successfully use the accounting connection and to give you accurate reports, you must have ledgers set up where your add-ons will be allocated.

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.

Here’s how to set up a new ledger

  1. Click on the Finance Tab on the left of your screen and navigate to the Ledgers Tab at the top of your screen.

  1. Click on + New Ledger in the top left corner of your screen.

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

  1. Give your ledger a code (Numerical only)

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

  1. 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).

  1. 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).

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

  1. 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.

Our Accounting Connections

  • Twinfield

  • Quickbooks

  • Zero

  • Sage

  • Exact Online

  • Unit 4

RoomRaccoon works with a cash system and not an invoice system. This means that all components such as accommodation, add-ons and taxes are split up and linked to the correct ledger account for accounting connections.

Good to know

  • If add-ons are not correctly entered into your Ledgers then they reflect as unallocated amounts on your financial reports.

  • Ledgers may not be edited once they have been created.

  • You may create a new Ledger and archive the previous one if you’d like to edit.

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