What is the Debtors Report?
This report will show the financial position of the property at a given time. It will include deposits held for future bookings, unpaid past bookings (debtors) and in-house reservations (currently checked-in reservations).
Tip: The figure on the bottom right side of this report is the net financial position of the property, at that time. In credit, it reflects that the property has more in deposits than it is owed. In debit, vice versa.
Generating a Debtors Report?
You can select:
- A start date
- An end date
The report is summarised by the client types your property has set.
Understanding a Debtors report
The calculations are as follows
Balance = – deposits + invoiced + in-house
Explanation:
‘Deposits’ are deposits held on bookings
- Positive balance = deposits held by you.
- Negative balance = there can’t be a negative here.
‘Invoiced’ is invoices CLOSED on Benson (i.e. not pro-forma invoices). These can be on reservations or on client profiles.
- Positive balance = moneys owed to you.
- Negative balance = over-payments on invoices – say when an agent pays for two nights accommodation but a stay is cut short to one night and a credit is left on the invoice.
‘In-house’ is reservations that are check-in and in the property now.
- Positive = moneys owed to the property.
- Negative = moneys the property has in credit (technically still owned by its creditors)
The ‘Closing Balance’ on the bottom right hand side is the net cash position of the property. I.e. if the property closed-down at that moment in time it should claim all the positive balances from clients (its creditors) and have to repay all negative balances (its debtors).
For reference, Benson uses the formula: – deposits + invoiced + in-house = balance
See detailed explanations on downloading and viewing options.