Recommended Chart of Accounts

Accounting integrations are available for those participating in a private pilot as a part of our Mogul plan.

When connecting your accounting software to Hospitable, we will recommend creating a Chart of Accounts. A Chart of Accounts serves as the foundation for your accounting system, ensuring that financials are properly categorized, and reports about your business can be generated accurately.

Account Categories

Asset accounts represent resources owned by the company.
Liability accounts represent the company's obligations.
Revenue accounts represent income earned from sales or services provided.
Expense accounts represent costs incurred for the sake of the business.

If you do not already have an accounting system in place, you can use our recommended chart of accounts when connecting your accounting software.

Financial item in Hospitable	Categories	Recommended Account	Notes
n/a	Asset	Cash and Cash Equivalents	Hospitable will create this Account, but will not post Journals to it.
Reservation Payouts	Asset	Reservation Payouts	Accounts Receivable type account.
Pass-through taxes	Liability	Lodging/Occupancy Taxes	Accounts Payable type account.
Full amount owed to the owner from a Reservation	Liability	Distributions to Owners	Accounts Payable type account.
Commission on the accommodation	Revenue	Reservation accommodation income
Commission on the discounts	Revenue	Discounts
Percentage of cleaning fees withheld by the property manager	Revenue	Cleaning fees
Percentage of the additional guest fees withheld by the property manager	Revenue	Additional guest fees
Percentage of the linen fees withheld by the property manager	Revenue	Linen fees
Percentage of the management fees withheld by the property manager	Revenue	Management fees
Percentage of the pet fees withheld by the property manager	Revenue	Pet fees
Percentage of the resort fees withheld by the property manager	Revenue	Resort fees
Percentage of the community fees withheld by the property manager	Revenue	Community fees
Percentage of other fees withheld by the property manager	Revenue	Other fees
Flat fee charged to the Owner per reservation, as a part of the reservation commission agreement.	Revenue	Flat fees	The flat fee charged to the Owner for every reservation. This fee is not charged to the guest.
Revenue made by markups on transactions.	Revenue	Markup revenue
Percentage of upsell revenue withheld by the property manager	Revenue	Upsell revenue
The portion of the host service fee that the property manager is responsible for	Expense	Host service fee
Transaction line item amounts with the 'Maintenance' category.	Expense	Maintenance	Markups are categorized separately. See 'Markup revenue' account.
Transaction line item amounts with the 'Supplies' category.	Expense	Supplies	Markups are categorized separately. See 'Markup revenue' account.
Transaction line item amounts with the 'Uncategorized' category.	Expense	Uncategorized	Markups are categorized separately. See 'Markup revenue' account.
Amount owed to the owner.	Expense	Distribution to Owners (COGS)

Map your Accounts to fit your existing accounting structure

If you do not want to leverage Hospitable's recommended Chart of Accounts because you already have a system in place that works for you, you can map your existing Accounts with Hospitable's financial line items. This will ensure that journals created by Hospitable are categorized in the appropriate accounts, based on how they're mapped.

In Operations > Owner Statements > Accounting click on the Chart of Accounts tab.
Change any of the Accounts by choosing a new existing account from the dropdown. Changes made to this configuration will apply to any statement or invoice published after the setup is saved.

Note that Accounts cannot be re-categorized. This means that if you want to consider something in the Asset category as Revenue instead, this change is not supported.