What is the Deposits Report & the Deposits Movement Report?

Modified on Wed, 13 Mar 2024 at 04:11 PM

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Once you have activated the ‘Deposits’ for your account, pre-payments collected by guests during booking will be defined as deposits. These funds serve as a financial commitment from the guest to uphold their reservation and are typically required to secure a room booking for a future stay.

When these funds (prepayments) are collected from the guest - in the form of a prepayment via the booking engine or via an OTA - they are recognised as a financial liability for your hotel.

Pre-payments are considered “liabilities” for your hotel because your hotel owes a service to the guest which has not yet occured. Once the guest checks in, deposits will be counted toward your revenue balance and counted as income.

What is the Deposits Report?

This dynamic report displays the pre-payments (deposits) that have been received for a specific day. These transaction amounts are considered liabilities by the hotel, and have the potential to be refunded to the guest in the possibility that they cancel their reservation within the window allowed by the hotel’s cancellation policy. These deposit amounts can either become realised as income when the guest checks-in, or can be refunded (partially or fully) manually by the hotelier.

What is the Deposits Movement Report?

This dynamic report displays the pre-payments (deposits) of the guests that have checked-in to the hotel. This indicates that the deposit amount paid by the guest to secure their booking has been sufficiently converted into revenue, and is counted towards the opening balance of the reservation in the inhouse report. 

By viewing these dynamic deposit reports, you and your team will have a good understanding of guests that have checked-in to your hotel on a specific day, and the number of transactions that have been converted to revenue for your hotel.

Good to Know

Before accessing the deposit reports, we recommend that you close your daily revenue (available for Premium and Enterprise users) through the 'Daily Revenue' tab within the Reports Module. Closing your daily revenue enables you to secure your daily revenue data, preventing any additional modifications and provides accurate figures for the opening balances and closing revenue balances for the In-House Report, Summary Report, and Deposits reports.

Read more on how to close your daily revenue here

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