Accounting for Managers is included for all Mogul plan subscribers who create a business model of a Manager.
Managing a property on behalf of another Owner has unique accounting implications. With Accounting for Managers, we have developed a recommend accounting structure that ensures your financials are properly categorized and reports about your business are generated accurately.
Accounting Categories
Asset accounts represent resources owned by you.
Liability accounts represent your obligations.
Revenue accounts represent income earned from sales and services provided.
Expense accounts represent costs incurred as part of your business.
Category in Hospitable | Account Type | Details and Notes |
Cash and cash equivalents | Asset | Bank account |
Reservation and adjustment payouts | Asset | Accounts receivable categorization account where reservation payouts are received |
Due to Owner | Liability | Accounts payable type account where monies due to owners are held |
Property management commission and fees | Revenue | Parent account for property management commission and fees |
Property management commission | Revenue | Revenue earned from commission |
Property management markup fees | Revenue | Revenue from transaction markups |
Property management ad-hoc fees | Revenue | Revenue earned from ad-hoc fees on the reservation |
Reservation accommodation income | Revenue | Parent account for reservation accommodations income |
Airbnb accommodation income | Revenue
| Hospitable obtains from reservation financials |
Vrbo accommodation income | Revenue | Hospitable obtains from reservation financials |
Booking.com accommodation income | Revenue | Hospitable obtains from reservation financials |
Direct accommodation income | Revenue | Hospitable obtains from reservation financials |
Manual accommodation income | Revenue | Hospitable obtains from reservation financials |
Agoda accommodation income | Revenue | Hospitable obtains from reservation financials |
Reservation fees | Revenue | Parent account for reservation fees revenue |
Cleaning fees | Revenue | Hospitable obtains from reservation financials |
Extra guest fees | Revenue | Hospitable obtains from reservation financials |
Linen fees | Revenue | Hospitable obtains from reservation financials |
Management fees | Revenue | Hospitable obtains from reservation financials |
Pet fees | Revenue | Hospitable obtains from reservation financials |
Resort fees | Revenue | Hospitable obtains from reservation financials |
Community fees | Revenue | Hospitable obtains from reservation financials |
Other fees | Revenue | Hospitable obtains from reservation financials |
Upsell revenue | Revenue | Hospitable obtains from reservation financials |
Pass-through taxes | Revenue | Parent account for pass-through taxes revenue |
Pass-through sales taxes | Revenue | Hospitable obtains from reservation financials |
Pass-through lodging and occupancy taxes | Revenue | Hospitable obtains from reservation financials |
Host service fee | Expense | Hospitable obtains from reservation financials |
Refunds and reimbursements | Expense | Hospitable obtains from reservation financials |
Advertising and marketing | Expense
| Items such as fees related to photography, social media, and website ads and fees |
Bank fees and charges | Expense | Fees related to business banking |
Business meals | Expense | Meals related to business and in conjunction with conducting operations |
Cleaning services | Expense | Items such as fees related to cleaning and preparation of your property |
Continuing education | Expense | Items such as fees related to certifications, continuing professional education, and conferences |
Equipment rent | Expense | Fees related to borrowing or renting equipment for business purposes |
Insurance | Expense | Items such as fees related to business, liability, and property insurance |
Licenses | Expense | Items such as fees related to business and tax licenses |
Maintenance and repairs | Expense | Parent account for maintenance and repairs |
Maintenance | Expense | Fees related to the upkeep and maintenance of your property |
Repairs | Expense | Fees related to the restoration or repair of something to restore it or replace it to its original condition |
Memberships | Expense | Fees related to the cost of an affiliation with an organization or group for business or professional purposes |
Professional services fees | Expense | Fees related to the cost of professional services such as accounting or legal |
Salaries and wages | Expense | Fees related to the cost of an employee for services provided |
Shipping and postage | Expense | Fees related to the cost of shipping and mailing goods or items |
Software, applications, and subscriptions | Expense | Fees related to the cost to utilize software, applications, or subscriptions such as Hospitable |
Supplies | Expense | Parent account for supplies |
Cleaning supplies | Expense | Fees related to the purchase of tools, products, and equipment used for cleaning purposes |
House supplies | Expense | Fees related to the purchase of items and goods used for the household such as furniture and equipment |
Office supplies | Expense | Fees related to the cost of items needed for day-to-day office operations |
Repair supplies | Expense | Fees related to the purchase of materials, tools, and equipment used for repair, restoration, or replacement |
Taxes | Expense | Parent account for taxes |
Lodging and occupancy tax | Expense | Taxes imposed on reservations for lodging and occupancy purposes and remitted to the respective government entity |
Payroll taxes | Expense | Taxes imposed on employers or employees and remitted to the respective government entity |
Sales tax | Expense | Taxes imposed on reservations or business for sales purposes and remitted to the respective government entity |
Travel | Expense | Travel related to business and in conjunction with conducting operations |
Utilities | Expense | Parents account for utilities |
Electricity | Expense | Fees related to the cost of consuming electricity for your property |
Water | Expense | Fees related to the cost of consuming water for your property |
Gas | Expense | Fees related to the cost of consuming gas for your property |