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• AdminBen (Admin, RezOvation) commented  ·  March 06, 2012 10:53  ·  Flag as inappropriate  ·  Delete

  It may also be helpful to highlight the difference between how the typical innkeeper views a deposit, and how a resort or vacation rental views a deposit. For innkeepers, deposits are usually "payments taken in advance" and apply to the cost of the reservation. The deposit guarantees the reservation, provides some cash flow to the innkeeper during off season, and offers some recourse if the guest cancels last minute and the room cannot be rebooked. For some resorts and most VRs, deposits are held and then later returned in the event of damage or cancellation. Rezo GT is innkeeping software and so uses the concept that is most familiar to innkeepers / hoteliers.

  As an aside, In the VR space, it is becoming increasingly popular to sell property damage insurance which eliminates the need for a deposit. Travelers and owners alike love this trend, because it makes managing deposits very easy.

• AdminBen (Admin, RezOvation) commented  ·  March 06, 2012 10:48  ·  Flag as inappropriate  ·  Delete

  Does the Advance Deposit detail report not serve your needs? This report will show you all deposits in detail and also allow you to see your total liabilities as of the day the report is run.

  To clarify, payments are payments, and we don't flag or track a payment as a deposit per se (i.e. you cannot add an "advance deposit" payment to a reservation, you simply add a payment). What the system does is simply allow you to report on a payment based on when it was taken relative to the arrival date. So in general, payments taken prior to arrival date are deposits, and payments taken on or after arrival date are not (although the specifics will vary depending on how your reporting is configured). Please see this article for a more detailed explanation: http://www.rezovationwiki.com/index.php?title=Advance_Deposits_in_RezOvation_GT

• Border View Lodge commented  ·  March 05, 2012 07:27  ·  Flag as inappropriate  ·  Delete

  Agree, a deposit is just that, a deposit, until it reaches the date that it becomes revenue it should be able to be reported on seperately. There is no reason we should have to go through each future reservation with a calculator to determine what deposits are there.

• Sean commented  ·  November 01, 2010 14:49  ·  Flag as inappropriate  ·  Delete

  The main difference is how the deposit/ payment are recognized. For example, at my hotel we do not recognize a deposit as revenue until the guest has arrived.
  I assume the issue for the original poster is the inability to distinguish between a deposit which is a liability, and a payment which is revenue.

• Ephraim commented  ·  August 23, 2010 16:37  ·  Flag as inappropriate  ·  Delete

  Maybe I don't understand... what is the difference between them, beside semantics.