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DAILY PROCEDURES (Step by Step task list for VRM Clients)
Run the Check In & Check Out reports (under Reservations Reports)
Check in Guests (go to Reservations>Batch Check-In/Out> Batch Check-In tab)
o Automatically updates housekeeping to occupied status
o Populates “Present Guest” Report (go to Reservations> Reports).
Check out Guests (go to Reservations> Batch Check-In/Out> Batch Check-Out tab)
o Automatically updates housekeeping to departure cleaning status
o Automatically populates Schedule Housekeeping “update schedule” screen
o Automatically allocates reservation monies at 11:20 p.m. when the nightly jobs run.
Make sure all income received has been posted to each reservation. (Go into the reservation> Pay Up> Pay Receivable)
Run Cash Receipts Report and Prepare Bank Deposit Ticket (Accounting> Reports> Cash Receipts)
o Match cash and checks to “Cash Receipts” report and create your Bank Deposit Ticket.
Create VRM Bank deposit to match Bank Deposit Ticket for Cash/Checks.
o Create deposits into VRM system under Accounting> Deposits.
o Click New> Description: name your deposit> Date: change date to working date.
o Under “Manage Payments,” move all entries associated with that date from left to right
Note: All payments must be in a deposit dated the same month as the payment was taken
For cash/check deposits, the total on the right deposit screen should equal “Bank
Deposit Ticket” and “Cash Receipts” report.
If not, STOP and contact support.
Run Credit Card Settlement Batch Report from VroooomPay!, Point of Sale terminal or Fast Charge gateway.(In VroooomPay! the settled batches are located under Reporting> Settlements> Batch Report. This will show the total amount of the settled batch, to see the individual transactions in the settled batch click on the number under the "# Trans" column).
Verify VRM credit card deposit for preceding day matches settled batch for same date
o Items in settled batch should match Credit Card portion of “Cash Receipts” report for preceding 24 hours
o Remove credit card payment items not yet settled and add to separate deposit of unsettled items
All these amounts need to balance. If not, STOP and contact support.
Perform your business practice checklist on a daily basis
Process confirmations - Print, email or mail
Verify Receipt of “Reservation E-Mail” (hooked emails) report for the day.
Prepare Check-in Packages needed for the next day (go to Reservations> Reports> Check-In Packages)
Process Work Orders (update status) (go to Maintenance> Work Orders AND/OR go to Housekeeping> Work Orders)
Process Security Deposits
o Check “hold deposit” box if you want to hold Security Deposit (General Screen within the reservation> check the Hold Deposit box> and Save).
o Release security deposit refund (This will occur automatically using the “Number of Days Before Refund” set up under System Configuration OR you can manually refund the guest by going to Accounting> Accounts Payable> Expense Member tab)
Housekeeping Reports
o Schedule housekeeping using the Schedule Housekeeping grid. (go to Housekeeping> Schedule Housekeeping> Schedule Housekeeping tab)
o Print “Housekeeping” Report. Always run housekeeping report AFTER opening the Schedule Housekeeping grid for the same time frame. (Housekeeping> Reports)
Run Receivables Due Reports
o Run “Outstanding Payments/Balances Due” report (for Short Term) (go to Accounting> Reports)
o Review Reservations owing monies (take appropriate action)
Run “To Be Cancelled Reservations” report (take appropriate action) (go to Reservations> Reports) - this report will display the following
- Confirmed short term reservations not paid in full using the “Days Required for Full Payment” under system configuration.
- Un-Confirmed short term reservations that have not meet the required down payment using the "Confirmation Required By" on the general screen of the reservation.
Run “Unconfirmed Reservations” report - this report will display reservations which have not paid their down payment/required prepay using the “Reservation Confirmation Days” under system configuration (go to Reservations> Reports)
WEEKLY PROCEDURES
Run “Items to Pay” Report (go to Accounting> Reports)
o Check for negative balances in Prepay and/or Security Deposit accounts on reservations
o Check for positive balances in Pre Pay and Security Deposit accounts (past reservations)
Run the Reservations Not Distributed report (go to Accounting> Reports) - troubleshoot undistributed reservations
Process payables and pay vendors - if the reservations generating the payables are correct
END OF MONTH REVIEW PROCEDURES
Prior to the last day of the month being closed
The purpose for the end of month review is to make sure all of
your reservations, work orders and vendor accounts are in order BEFORE the end
of the month. If everything has been
proofed ahead of time, the end of month close process can be expedited.
Work Orders
Make sure all work orders to be
charged to the owners account in the month being closed have been created,
completed and are approved by the last date of
that month. (i.e. closing out the month of December make sure all work orders
to be charged to the owner account for December are approved by Dec. 31st)
Do not pay your owners until your work orders are expensed for the month.
Note: Do NOT manually expense a work
order with a back date AFTER the month end close has been completed.
Reservations
Checked in Reservations (Only if this applies for your company)
EXAMPLE- a reservation that checks in in
the month of December and checks out in the month of January, if there is a
reservation that check in on 12/28/2013 and checks out 1/2/2014 and you want to
allocate this income to your owner in December 2013 then it would have to be
manually distributed as outlined above.
Note: Short Term reservations will not automatically
distribute until they are paid in full and checked out in VRM. A short term
reservation that is checked in and paid in full and you wish to distribute in
the month the reservation started has to be done manually.
Reservations Not Distributed
report
Owners Account
Run the “Guest per Property”
Report and a “General Ledger Journal” (GL) (Owner Accounts only) report for the
month that is being closed out.
To pull the Guest Per Property
report go to Properties> Report> Guest Per Property> click View
Report> leave the boxes checked for the options Show Rent, Deduct Discounts
& Deduct Builtins> select the time frame> select the Display
option> click Run Report.
To pull the General Ledger
Journal for the owner account go to Accounting> Reports> General Ledger
Journal> select just the Owner account> select the time frame> click
Run Report.
The General Ledger Report is a mirror of the Owners Statements
Compare distributed reservations on “General
Ledger Journal” to “Guest per Property” report to make sure they have been
distributed (Note: $0.00 reservations will not show on the GL)
Review all owner charges, work
orders and owner payments posted directly to the owner account are correct on
the general ledger journal for the owner accounts
Note: If a short term reservation
that falls on the last day of the month that is not checked out in VRM until
the beginning of the following month it will have to be manually distributed
and back dated to the last date of the month as long as the month end has not
been completed (go to Accounting> Manual Overrides> Distribute Short Term
tab> check the box for the reservations you wish to expense> change the
Date to the last date of the month being closed out>click “Distribute
Reservation” button)
Tax
Accounts
Run the Tax Collection report for
each taxing agency and the General Ledger Journal for each tax account
To pull the Tax Collection report
go to Accounting> Reports> Tax Collections> select the Taxing
Agency> select the time frame and click Run Report. (Note: do this for each taxing agency)
To pull the General Ledger
Journal for the tax accounts go to Accounting> Reports> General Ledger
Journal> select just the tax account> select the time frame> click Run
Report. (Note: do this for each tax account)
Compare
the Tax Due from the Tax Collection report to the Ending Balance on the GL
The beginning balance on the
General Ledger for the month should be $0.00
The ending balance is the amount
that will expense with the “Expense Ledger Balance” function
The ending balance should match
the amount due on the Tax Collection Report
If the beginning balances are not $0.00 or the ending balances
don’t match.
STOP and
contact support.
Travel Insurance
Run the Travel Insurance (By
Dates) report and the General Ledger Journal for the
Travel Insurance account
To pull the Travel Insurance (By
Dates) report go to Accounting> Reports> Travel Insurance (By Dates)>
select the Travel Insurance> select the Output Type: Acrobat PDF> Sort
By: Property Name> select the time frame and click Run Report.
To pull the General Ledger
Journal for the tax accounts go to Accounting> Reports> General Ledger
Journal> select just the Travel Insurance account> select the time
frame> click Run Report.
Compare Travel Insurance Report with the General Ledger Journal for the Travel
Insurance account.
The beginning balance on the
General Ledger for the month should be $0.00
The balance under Credits on the
GL should match the Total Gross on the Travel Insurance report
The total amount of the payable
in the check queue for Travel Insurance should match the Amount Due on the Travel Insurance
Report
If the beginning balances are not $0.00 or the ending balances don’t match.
STOP and contact support
For more information on CSA Travel Insurance Reports and Policy Numbers, see this article
13.1.5.2 Helpful Hints Guide for CSA XML Functionality
Management Accounts
To pull the General Ledger
Journal for the management accounts go to Accounting> Reports> General
Ledger Journal> select just the management account> select the time
frame> click Run Report. (Note: do this for each management account)
The general ledger journal
reports for each management account should be review to make sure everything
that distributed into the account is correct.
These general ledger journal
reports then need to be printed or saved on the computer to be used during the
month end close to compare the ending balance to the payables in the check
queue after the accounts are expensed.
Note:
There are only four management accounts that will expense a negative balance
and those are the accounts set up under System Configuration> Company>
Offices tab. The accounts selected for Mgmnt Account, Res Account, Cancellation
Account & Travel Ins. Commission Account. If a property has an overall
negative property balance in any other management account that would need to be
fixed prior to expensing the ledger balances for the month.
MONTH END CLOSE PROCEDURES
Note: Check your dates when
expensing -- If any expensed item has to be “fixed” after the first of the month,
the date on which the item is
re-expensed will need to changed back to the previous month. Items expensed with the date set after the
month you are finalizing will NOT
show up on owner’s statements and your month will not balance correctly.
Pay Your Owners First
Ensure the End of Month Review
has been done.
Expense Ledger Balances “Owner (Not
Long Term)” (Go to Accounting> Expense Ledger Balance)
Change date back to last day of the month
Compare checks in the queue (Go to Accounting>
Check Queue) with owner statements and/or General Ledger Journal
Make sure all Owner accounts on General Ledger
Journal or Owner Statement have either a $0 or “minimum property” balance. (or
negative balance if your state allows) If not, STOP and contact support
If it applies process owner Direct Deposit first
Cut checks for owners- change the
date to the last date of the month that is being closed to match the date
expensed
Print final owner statements (Go to
Accounting> Reports> Owner Statements For Short-Terms)
Taxes
Ensure the End of Month Review
has been done.
Expense the Ledger Balances for
the tax accounts as of the LAST DAY OF THE MONTH
If it applies create negative work order for
the Collection
Allowance
Go to Maintenance> Work
Orders> New> Property: Bank Adjustment> Account to Charge: Management
(the account the money is going too)> enter a Short Description> Vendor
to Pay: Tax Agency> Amount: NEGATIVE amount> Date Completed: last day of
the month being close out> Status: Approved> finally Save. Then manually
expense this work order as of the last date of the month being closed out) Note: Do not use the word credit in the work order description
If they don’t
match, STOP and contact support
Travel Insurance
If they don’t match, STOP and contact support
Management Accounts
Expense each Management Account
by going to Accounting> Expense Ledger Balances> highlight each
management account one at a time and make sure to change the date to the last day of the month
Compare the checks in the queue
(go to Accounting> Check Queue) back to General Ledger
Journals that were pulled during the Month End Review.
The Ending Balance for each
management account should match the total payable in the check queue
Note: Work orders that are showing in the check queue for a
management vendor will not show on the general ledger journal for the
Management account. The reason is on the work order the owner account is being charged
and the money is being paid directly to the vendor so that has nothing to do
with the Management account.
Make sure they
match. If not, STOP and contact support
If it applies pull the Security
Deposits to Refund report (Go to Accounting> Reports) cut checks for
members/guests owed security deposits.
At this point, the check queue will normally be clear. However,
there may be exceptions.
Run the Financial Account Balance Report (Go to Accounting> Reports) for the
last day of the month to verify that all accounts have been appropriately
expensed (Some Damage Deposits, Prepay and Minimum Owner Balances should
remain)
Bank Reconciliation
When you receive your bank
statement, reconcile in VRM and clear out deposits and checks.
Go to Accounting>
Reconciliation> select the month & the year being reconciled> click
Get Items> check the box for the deposits that cleared your bank and click
“Clear”. Then check the box for the checks that cleared your bank and click
“Clear”. If applicable do the same for Direct Deposits that cleared the bank
and click “Clear”.
To account for bank interest
& bank fees accrued follow the document “How to post Interest Earned and
Bank Fees from your Bank”
Once all the items that cleared
your bank account for the month have been accounts for than to make sure your
bank statement & VRM balance go to Accounting> Reports> Bank
Reconciliation> enter your statement Beginning Balance & Ending
Balance> change the date to the last date of the month being reconciled>
click Run Report. The first & second section of the Bank
Reconciliation report should NOT have any difference.
If there is a difference in
either section, STOP and contact support
Revision 3.9