Log a Service Request for assistance from our Customer Support Team.

    Alternatively, enter your question below to request a new article in the Help Centre.

    End of Month Preparations - Trust Accounting

    Pre-End of Month checklist for Trust Accounting properties using RMS.

    End of Month preparations should be completed 1-2 weeks prior to the end of the current month to give properties sufficient time to action any outstanding items.

    1. Print & Check All Owner Statements
      1. Compare Owner Statements against reservations on the Booking Chart for the current month. 
      2. Verify charges and commissions for reservations to date are as required.
    2. Apply Bulk Owner Charges
    3. Apply Third Party Charges
    4. Three Way Balance Report
      1. Verify there are no imbalances in reported figures.
    5. Moneys Held in Trust Report
      1. Sort by Departure Date.
      2. Verify no outstanding Reservations from previous months with charges on the Reservation Account.
      3. Review any Cancelled or No Show Reservations.

    Additional Information

    Bulk Owner Charges

    Used for adhoc charges to Owners and not for any recurring End of Month Expenses.

    Cancelled & No Show Reservations 

    Accommdation Charges posted on Reservations with a status of Cancelled or No Show will not be included in Pay Owner/Manager and should be removed from the account.

    Contact RMS Support for assistance with End of Month Preparations.

    Was this article helpful?

    Send Feedback

    Can’t find what you’re looking for?

    Our team of RMS experts are here for you!

    Submit a Question