Financial Reporting updates: 2022 recap Follow
During 2022 we have been working on several improvements to build a more reliable Financial Reporting module. We’ve also worked hard to make improvements and fixes that were mostly invisible to our end users.
Here is an explanation of what we have done so far in 2022:
1. An overall smarter system
We took the opportunity to work on several improvements:
- Optional extras and discounts can be added for all channels
- We are now always storing past configurations for reservations, so changing listing settings and editing a reservation breakdown will not re-create reservation breakdowns based on the new settings but on the ones we had on the creation date (allowing smooth reservations alterations)
- The connection between financial fields and price breakdowns is now clear, so no more inconsistencies or doubts while editing
- We now show which pieces will affect the total price and which ones will not for each channel, and we limit the list of financial fields per channel (so you cannot add an Airbnb-unique field to a Booking.com reservation, for instance)
- iCals reservation can now include manually added financial fields
- Ability to calculate cancellations payouts
- Support of Vrbo-specific fees
2. Price breakdowns for all channels
Total price now is standardized across all channels and corresponds to what the guest paid
- Airbnb: For Airbnb reservations we used to only show the Airbnb Payout. Now all channels have the same logic (total paid by guest), if you still need to see the Airbnb Payout the information is available in the reservations table and as a financial field as “Airbnb payout sum”
- Booking.com: As you read in our announcement on January 7th, we built a mapping tool so that localized taxes reported by Booking.com can be automatically mapped to one of our default taxes. Thanks to this we can build a breakdown. All financial information, taxes included, will come from the channel itself.
- Expedia: The price breakdown is very simple. We show the price received from channel and then any extras can be added to the reservation breakdown.
- Other channels: We show the price received from channels, with the updates we have been working on these breakdowns can adapt easily to future updates.
3. Public API updates
The documentation reflects and explains the updates mentioned above. It is important to understand that we have the price calculator that needs to be used to get a new total price. So changing/adding a financial field via public API will not be enough to update it. Some options we should find there are:
- Get the total price from a reservation
- Get easily a price breakdown from a reservation with all of its components
- Understand if these components correspond to a tax, or an extra (and any other data such as this one we may be able to offer)
- Enter new financial fields to a reservation, such as extras, or discounts. If the total price needs to change based on that, let’s change it too
- Modify or delete the financial fields of a reservation
- Update the total price of a reservation based on the financial fields included in it
- Add or subtract extras, at least when they can be multiple
- Get any formula name and its values applying to a reservation
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