Create a formula that matches your reservation total?
One of the main requests we receive is how you can create a formula that will match your Total Reservation. We will explain more below.
We do NOT take into consideration the taxes that OTA sends to us. The reason is that every channel is different.
That is why we have built New Taxes. We will use New Taxes to calculate taxes in Financial Reporting. (We use New Taxes to calculate taxes for Hostaway channel and plan to use this for Vrbo calculation too).
You can read this article about New Taxes to learn more.
Note: If the OTA takes taxes, it will not be included in the Total Reservation.
What is the Total Reservation made of?
First, it is important to know that each OTA has a different way to calculate the Total Reservation. Then, depending on your setting on a channel, the Total might also be different. We will give below the main example we have noticed.
It could be that the channel includes Weekly/monthly discounts, host/guest fees, management fees etc.
To know what a reservation includes, the best is to check in the channel the reservation split up and then modify your formula accordingly.
Learn more on how to create a formula for a specific channel and then add these formulas to make one.
Total Reservation for Hostaway Channels (Direct, BookingEngine, WordPress)
In general, the reservation total includes: BaseRate + CleaningFee + Taxes.
That said, you edit a reservation and include Fees, Discount Coupon, Weekly/Monthly Discount etc.
On a reservation level, you can find the breakdown:
You can check this article to find more information on reservation breakdown and fees/discount.
Total reservation for Airbnb
Most likely, your total for Airbnb is made of: BaseRate + CleaningFees + PricePerPerson (+other fees) - hostChannelFee.
We saw that in some cases that the Airbnb Total Reservation includes also ManagementFeeAirbnb.
Note: the Total that Airbnb sends to us does not include Guest fees nor Taxes.
If you wish to calculate for cancelled reservations, please read the Financial Reporting FAQ.
Total reservation for Booking.com
For Booking.com, the general calculation is: BaseRate + CleaningFees + Taxes.
Total reservation for Vrbo
For Vrbo, the general calculation is: BaseRate + CleaningFees + Taxes (+Damage Deposit)
For Damage Deposit, if you selected in Listing > Edit > Price and Fees > Exclude from Reservation Sum. If this is selected, the Vrbo total will not include the Damage Deposit. If you selected it, it will not be included.
Total reservation for Expedia
It depends if Expedia takes payments for you or not.
If Expedia takes payments for you: (BaseRate + CleaningFee) * Expedia Commission + taxes.
Please note that we don't get the Expedia Commission but you can add the Expedia Commission % instead.
If Expedia doesn't take the payments for you: BaseRate + CleaningFee + Taxes.
First, it is important that you set up New Taxes. If you don't, the calculation will most likely be off.
Then, as you can see, many channels use the same formula: BaseRate + CleaningFee + Taxes, that said, some channels might be different. You can now create a formula per channel, please read our guide How to set-up your formulas? for more information.