Financial reporting: 2023 updates - FAQ Follow

This FAQ is related to the 2023 Financial Reporting Updates explained in this article. 

Where can I find the mapping tool?

In your account financials settings: https://dashboard.hostaway.com/settings/financials

What type of taxes does Airbnb reports and what is the difference?

Airbnb reports taxes in 2 levels: Generic (Airbnb transient occupancy tax or Airbnb pass-through tax, that can contain other specific taxes) and Specific (ie Tourism Tax (Can - Quebec Hotel)). Until today we used and stored only the generic ones, while the specific ones have been historically ignored for reporting. From now onwards they will both be available.

Will the generic taxes still be calculated?

Yes, but they will not be part of the price breakdown for reservations with check-in after the 1st of January, only the specific ones. They can still be found as financial fields and used in formulas.

Will this be available from the first of January?

Releasing it to all our clients may take a few days, so possibly the first of January everything still looks the same. But after we release it, we will update any existing Airbnb reservations with check-in on 2023

What will happen if I modify a financial field affected by a formula?

For modification, we will check if there are some taxes configured that should apply to that field. In this case, we will update the tax based on those settings, otherwise, we will not modify the value of that tax

What about the reservations with check-in before 1/1/2023?

They will remain exactly the same as they are today, and taxes will still be based on what we calculate

Does it affect my formulas?

It depends. Most likely the only thing you need to do is to be make that the mapping has the taxes you use in the formulas. If the default mapping we provide doesn’t match your formulas configuration, you will need to change the mapping.

If you were just using the “generic” formulas there will be no changes.