Managing financials for your short-term rental business can be time-consuming and prone to errors, especially when juggling multiple properties and owners. While providing a seamless guest experience is the main priority, keeping track of revenue, expenses, and owner payouts is equally crucial.
That’s why we’re excited to announce our first account integrating with QuickBooks. After connecting, you’ll automate and streamline your accounting process, ensuring accurate and speedy financial reporting. This means less time spent on manual data entry, fewer errors in owner statements, and a clearer financial picture for your business, all without lifting a finger.
How’s It Work?
Connecting QuickBooks
Integrating QuickBooks with Hospitable is simple and can be done in just a few steps. We make it easy by recommending an accounting setup in case you’re not tied to a specific format. You must also be the Mogul plan to connect with QuickBooks.
To make the connection:
- Log in to Hospitable and go to Operations > Owner Statements > Accounting.
- Click the Connect button next to QuickBooks and follow the prompts.
- After signing in, you’ll map your chart of accounts, properties, and owners.
- Publish an owner statement to send the financial data to QuickBooks, that’s it!
Automating Monthly Financials
Once linked, Hospitable will automatically sync financials from your published owner statements, ensuring that all guest, reservation, and transaction data is accurately recorded. This eliminates manual entry, ensuring that all revenue and expense details are accurately reflected in your accounting software.
Hospitable will:
- Create customers in QuickBooks from your guest information.
- Sync reservation revenue and expense data from your owner statements.
- Automatically categorize transactions within QuickBooks.
- Ensure accurate financials in your balance sheet and profit and loss reports.
Since everything is automated, you no longer need to spend hours updating your accounting information at the end of each month. Let QuickBooks and Hospitable handle it for you!
Why Use It?
There are numerous benefits to automating your accounting process by connecting QuickBooks to Hospitable, but here are the top advantages:
- Save Time with Automation. No more manual data entry or double-checking spreadsheets. Hospitable syncs your financials automatically, so you can focus on growing your business instead of crunching numbers.
- Ensure Accurate Financial Reporting. Automating reporting minimizes human error, ensuring statements are always correct. You can trust that shared financials reflect real-time data with complete accuracy.
- Simplify Owner Payouts. With detailed and automated owner statements, property managers can easily track and distribute earnings, improving transparency and reducing back-and-forth inquiries from owners.
- Stay Tax-Ready with Organized Books. With all transactions properly categorized and stored in QuickBooks, you’ll have cleaner records and an easier time preparing for the coming tax season.
By automating your financials, you’ll save valuable time, reduce mistakes, and ensure accurate reporting, helping you run a more efficient and profitable rental business.
Tip: Unpublish your January statement before connecting to Quickbook to get a fresh start to the coming year’s accounting!
For a full step-by-step guide, check out our help article about connecting your accounting software to Hospitable.
What Do You Think?
We would love to hear your thoughts about our QuickBooks integration. Is there something you’d like to see in the feature's coming iterations? Fill out the form below!
Stay tuned for more product updates!
